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Kimisitu IPO
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Mwende
#1 Posted : Wednesday, August 28, 2013 1:48:35 PM
Rank: Member


Joined: 7/29/2009
Posts: 217
As a member, I got this in my inbox today. Is it a good deal dear Wazuans? Please advice if its a go or no go zonesmile
Gracias



http://www.kimisituinvest.co.ke/sharesdrive.php
...hold me in your arms, like that Spanish guitar… all night long!!!
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selah
#2 Posted : Wednesday, August 28, 2013 3:38:12 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
The company seems profitable but am concerned for a company that seems to be highly dependant on selling properties(Land) it has invested very little of its money there most of the cash seems to be in cash and cash equivalents.

So what the point of the cash call when they have all that cash lying around?
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Murenju
#3 Posted : Friday, August 30, 2013 5:58:49 PM
Rank: Member


Joined: 7/13/2006
Posts: 94
Location: Nairobi
The cash is for buying more land and selling to members.
Their dividends are better than that of many listed companies.
My beef with them are the delayed titles for their slots in katani.
Knock hard and it will be opened. Ask and you will be answered. Seek and you shall find.
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Balaa
#4 Posted : Saturday, September 01, 2018 11:52:04 PM
Rank: Member


Joined: 7/6/2018
Posts: 175
Location: Kinshasa
Anyone in the house in need of Kimisitu Co. shares? Been trying to quit the company but share transfer is almost impossible.

Membership withdrawal process for the sister company Kimisitu Sacco is also a nightmare if you have KES 1 M plus in deposits and are located in the diaspora. Sacco insists that you send the original signed form via snail mail. It seems to me they having cashflow issues and have to look for flimsy grounds for not returning your deposits. It has happened to me. Don't know what is going on - last AGM held this year was chaotic. Members had to only approve partial honorarium for the BOD due to scandals.
If it don't make dollars, it don't make sense
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Thiong'o
#5 Posted : Wednesday, September 05, 2018 2:56:29 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
Balaa wrote:
Anyone in the house in need of Kimisitu Co. shares? Been trying to quit the company but share transfer is almost impossible.

Membership withdrawal process for the sister company Kimisitu Sacco is also a nightmare if you have KES 1 M plus in deposits and are located in the diaspora. Sacco insists that you send the original signed form via snail mail. It seems to me they having cashflow issues and have to look for flimsy grounds for not returning your deposits. It has happened to me. Don't know what is going on - last AGM held this year was chaotic. Members had to only approve partial honorarium for the BOD due to scandals.


This seems the trend with SACCO’s forming investment companies and modeled similar to MICL, you can borrow some ideas here http://www.wazua.co.ke/f...spx?g=posts&t=18321

Success for this company will depend on good governance, transparency and prudent investments and public perception matters and issues as pointed above by @Balaa taint the company management.

The company should have active OTC Process to enable transfer of shares for members who want to exit and a transparent bid pricing.
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