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Home Afrika Listing at NSE!
Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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Thanks @mw€k€ for the 2012 accounts & breaking down salient features. 2011 accounts looked depressing. Ofcourse the high interest regime present then takes much of the blame. Hope the turnaround in 2012 holds. This one I will watch from the sidelines! #spectator ions  @SufficientlyP
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@$PT, am with you #spectator ions Notice the 405,255,320 shares being listed have a net book value (including goodwill) of KES 0.91 and a net book value (excluding goodwill) of KES 0.73. ... Home Afrika will be ripping off wanjiku if the introduction price is not below 1bob!!!
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Rank: Veteran Joined: 6/17/2009 Posts: 1,616
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Sufficiently Philanga....thropic wrote:Thanks @mw€k€ for the 2012 accounts & breaking down salient features. 2011 accounts looked depressing. Ofcourse the high interest regime present then takes much of the blame. Hope the turnaround in 2012 holds. This one I will watch from the sidelines! #spectator ions From a deep loss position in 2011 to 4.67 in EPS and 70 cents dividend in 2012 ...
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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cnn wrote:Sufficiently Philanga....thropic wrote:Thanks @mw€k€ for the 2012 accounts & breaking down salient features. 2011 accounts looked depressing. Ofcourse the high interest regime present then takes much of the blame. Hope the turnaround in 2012 holds. This one I will watch from the sidelines! #spectator ions From a deep loss position in 2011 to 4.67 in EPS and 70 cents dividend in 2012 ... On listing, they have split the 40,525,532 shares as at 31st December 2012 to 10 meaning they are listing 405,255,320 shares. That means we are now talking of coming from a deep loss in 2011 to KES 0.467 in EPS and 7 cents dividend in 2012 ...
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!!
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Rank: Veteran Joined: 6/17/2009 Posts: 1,616
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mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mwekez@ji wrote:Company growth target:" to build a One Billion Dollar Company in the next five years. " mwekez@ji wrote:Home Afrika 10 Year Vision is to be a 10 Billion Dollar Company (sales revenue). Talk of lofty targets. Company generated <10 million dollar sales revenue in 2012 and its talking of hitting sales revenue of 1,000 million dollars in 2017 and 10,000 million dollars in 2022 ... are these the lofty assumptions used by PKF in valuing the company
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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cnn wrote:mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe.
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Rank: Member Joined: 9/26/2006 Posts: 389 Location: CENTRAL PROVINCE
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cnn wrote:mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe. At a net income of Ksh 167.7M for 2012 and a Book Value of Ksh 8.5B (which i assume will be the basis of determination of listing price); its return on equity = net income/shareholders equity is a depressing 1.97%. Compare this with the ROE of Trans Century at 15.1% (P/B of 1.8); Centum at 18.4% (P/B of 1.0); Housing Finance at 15.0% (P/B of 1.1). At such a low ROE, which is about an eighth of its peers,i would price the share at a tenth of Ksh 21 hence a price of Ksh 2.00. The price of Ksh 2.00 would mean a P/E of 4.30 which would be comparable to HFCK (p/e 7.5); Centum (p/e 5.6), trancentury (p/e of 12) all of which have better investor returns. Based on the 2011 results which were a loss position, i think i'll stay out of this one unless their is a significant discount on the Ksh 2.00. Happy Hunting.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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mwekez@ji wrote:cnn wrote:mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe. Kudos mwekez@ji. Big talk from these fellows. Not impossible - but such lofty promises tend to be unnerving to some. e.g Fountain Enterprises Programme wanting to be biggest bank in 2016  http://wazua.co.ke/forum.aspx?g=posts&t=18991
Better to be modest in promises, and exceed in delivery. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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youcan'tstopusnow wrote:mwekez@ji wrote:cnn wrote:mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe. Kudos mwekez@ji. Big talk from these fellows. Not impossible - but such lofty promises tend to be unnerving to some. e.g Fountain Enterprises Programme wanting to be biggest bank in 2016 http://wazua.co.ke/forum.aspx?g=posts&t=18991
Better to be modest in promises, and exceed in delivery. Well noted @¥c$µπ. Lofty promises is the word. ... The company has been in operation for the past 5 years. It would have been enlightening to know the promises they made 5 years ago and how much they have achieved against that. That could have shed alot of light on how good/poor they will be in executing the current 5/10 year plan …. I still dont understand why they havent given us Information Memorandum
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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mwekez@ji wrote:youcan'tstopusnow wrote:mwekez@ji wrote:cnn wrote:mwekez@ji wrote:A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!! I saw that and i was thinking how did they get to this....without the IM,my money stays safe. Kudos mwekez@ji. Big talk from these fellows. Not impossible - but such lofty promises tend to be unnerving to some. e.g Fountain Enterprises Programme wanting to be biggest bank in 2016 http://wazua.co.ke/forum.aspx?g=posts&t=18991
Better to be modest in promises, and exceed in delivery. Well noted @¥c$µπ. Lofty promises is the word. ... The company has been in operation for the past 5 years. It would have been enlightening to know the promises they made 5 years ago and how much they have achieved against that. That could have shed alot of light on how good/poor they will be in executing the current 5/10 year plan …. I still dont understand why they havent given us Information Memorandum and its not just home afrika. most information memorandums come just before the corporate actions. when i went there like 2 months ago, i was told i cant be given financial results i have to wait for info memo. unsurprisingly another over valued listing. rem we are in a bull market. @stocksmaster hit the nail on the head The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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What is the listing price? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Angelica _ann wrote:What is the listing price? 1st trade deal at 25bob BIDS 18,000 Quantity Price Splits Time 18,000 8.00 1 09:30:04 - - - - - - - - - - - - - - - - ASKS - Quantity Price Splits Time - - - - - - - - - - - - - - - - - - - - TRADES Quantity Price Time 5,000 25.00 09:30:02 - - - - - - - - - - - -
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Rank: Member Joined: 10/7/2010 Posts: 251 Location: nairobi
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What is the ticker symbol?
is it in CSFC.co.ke?
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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madebe wrote:What is the ticker symbol?
is it in CSFC.co.ke?
>ticker symbol: HAFR >csfs.co.ke are yet to bring this counter onboard online trading platform >Getting the livefeed from mystocks.co.ke
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mwekez@ji wrote:madebe wrote:What is the ticker symbol?
is it in CSFC.co.ke?
>ticker symbol: HAFR >csfs.co.ke are yet to bring this counter onboard online trading platform >Getting the livefeed from mystocks.co.ke ... rich.co.ke is also giving the livefeed of this counter
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Serious fellow has put a bid at KES 0.50 ;-)
BIDS 72,000
Quantity Price Splits Time
4,000 10.00 2 10:25:26
18,000 8.00 1 10:25:26
50,000 0.50 1 10:25:26
- - - -
- - - -
ASKS -
Quantity Price Splits Time
- - - -
- - - -
- - - -
- - - -
- - - -
TRADES
Quantity Price Time
5,000 25.00 10:18:57
5,000 25.00 10:16:20
5,000 25.00 09:30:02
- - -
- - -
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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mwekez@ji wrote:@$PT, am with you #spectator ions Notice the 405,255,320 shares being listed have a net book value (including goodwill) of KES 0.91 and a net book value (excluding goodwill) of KES 0.73. ... Home Afrika will be ripping off wanjiku if the introduction price is not below 1bob!!! Someone just got screwed >*25 NAV @SufficientlyP
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Sufficiently Philanga....thropic wrote:mwekez@ji wrote:@$PT, am with you #spectator ions Notice the 405,255,320 shares being listed have a net book value (including goodwill) of KES 0.91 and a net book value (excluding goodwill) of KES 0.73. ... Home Afrika will be ripping off wanjiku if the introduction price is not below 1bob!!! Someone just got screwed >*25 NAV Total rip off
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