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FlameTree introduction instead of ipo
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The optimist
#41 Posted : Friday, November 07, 2014 2:10:17 PM
Rank: Member

Joined: 6/14/2010
Posts: 521
Location: Nairobi
mwekez@ji wrote:
The other directors/shareholders/their affiliates seems not to have been left behind in fleecing the company. In the half year to June 2014, the recorded gains from sale of properties are 78% of the net profit. These are properties that were carried in the books at very low book value and sold prior to listing at am sure non market prices going by the MD/CEO trade above.

... on valuation front:

Fully year 2013 EPS = Kes. 0.92
Fully year 2013 NBV = Kes. 1.22

Am AVOIDING this one

Thanks @mwekez@ji for combing through the IM for us.
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Mart_Consult
#42 Posted : Friday, November 07, 2014 2:42:17 PM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
Aguytrying wrote:
Mainat wrote:
Flame Tree Group did a private placement on 30th October and listed 6 days later.
Sisemi kitu ingine.


true. proving to be a shady firm already.
@mweke. I guess management is not exactly that trust worthy. fundamentals a rip off.
Gems market is getting a very bad reputation.


@Aguy My Sentiments exactly. Going for quantity over quality never works!

@Mainat ...private (speculative if I may add)investors looking to quickly flip it as the market always shows (misplaced) enthusiasm for listings...
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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hisah
#43 Posted : Friday, November 07, 2014 3:03:51 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
A shitty deal is a shitty deal


Burbidge Capital, sisemi kitu...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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jerry
#44 Posted : Friday, November 07, 2014 3:10:34 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
Do they have an auditor?
The opposite of courage is not cowardice, it's conformity.
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VituVingiSana
#45 Posted : Friday, November 07, 2014 7:44:13 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,354
Location: Nairobi
I like the firm's products, I like the market (tanks) it plays in. I like the future/potential.

I do NOT like the current price. It seemed attractive at the Private Placement price of 8/- but not at 13 only 6 days later. Let's see what the profits are without the gains from the sale of real estate.

I need to dissect the IM. For the moment, I am staying far away. Not as bad as HAFR but shades of LKL when it listed.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Boris Boyka
#46 Posted : Friday, November 07, 2014 9:02:45 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Mart_Consult wrote:
Aguytrying wrote:
Mainat wrote:
Flame Tree Group did a private placement on 30th October and listed 6 days later.
Sisemi kitu ingine.


true. proving to be a shady firm already.
@mweke. I guess management is not exactly that trust worthy. fundamentals a rip off.
Gems market is getting a very bad reputation.


@Aguy My Sentiments exactly. Going for quantity over quality never works!

@Mainat ...private (speculative if I may add)investors looking to quickly flip it as the market always shows (misplaced) enthusiasm for listings...

As you ponder, more listings in the segment
www.businessdailyafrica....84/-/cqy9y7/-/index.html
C&P
“There are three more after Flame Tree in the
pipeline before the end of the year. Next year
there will be a lot more coming on board. In
terms of sectors, we have a combination, one
being in FMCG (fast moving consumer
goods)and another one in real estate,”
Atlas Development and Support Services, a
logistics firm serving the oil sector, has
announced plans to list by the end of the year.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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hisah
#47 Posted : Monday, November 10, 2014 12:38:08 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The slide continues...

Ref HAFR...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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maka
#48 Posted : Monday, November 10, 2014 2:31:46 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
hisah wrote:
The slide continues...

Ref HAFR...


Very good....smile
possunt quia posse videntur
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Angelica _ann
#49 Posted : Monday, November 10, 2014 2:44:31 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
maka wrote:
hisah wrote:
The slide continues...

Ref HAFR...


Very good....smile

Kwani people never learn!
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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Aguytrying
#50 Posted : Monday, November 10, 2014 4:40:12 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
if nav is 1.22, I would consider it well priced at 2.00-3.00.
The investor's chief problem - and even his worst enemy - is likely to be himself
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