Uchumi will be subjected to the same measures as an IPO for it to return to the bourse. That means, it must make a profit consistenctly for 3 yrs (Someone correct me if am wrong on the 3 yrs). So far, they have done slightly over two yrs. So, expect them back after they announce their end yr financial results.

By the way, Uchumi is out of liquidation but am not sure they cleared their loans from KCB and PTA banks.

Give Uchumi another two yrs before they pay a dividend.

A sinking company has to re-capitalize to initial capital if things turn north before paying out a dividend.

I usually see Uchumi shares with nostalgia cauze a picked over 40,000 rights shares at 10 bob and within two weeks sold at 15 bob. I was in the meeting at Mayfair where Murigu was addressing Uchumi suppliers convincing them to take up the rights they had been offered using the credit owed to them by Uchumi.

"Yuo take up the rights which you don't pay for, sell within weeks, and bolt. You fail to pick the rights, Uchumi goes under, you go home empti handed".

As an old dog at the bourse, I took the opportunity and made a killing, then flew to Shocking Asia.

@surealligator
Thanks for the insightful post. So we wait about 3 yrs then longer for any dividends. Hmm...
Is there another company that has bounced back the way Uchumi has in this economy? That says alot about their fundamentals being very solid don't you think so sir?

@yekeyeke
Very well put I must say. Okay, I now have more strength to wait a while more to redeem my very many shares in Uchumi. Thanks.

Well, they have reported their audited results for the final 3rd year (see today's standard, page 11). They have reported a profit per share of 4.81kshs! Plus, they also appear to have moved into positive reserves (638 million kshs worth).
I dont see any further hindrances to them relisting, now. They should do this by the end of the year. A good price appreciation should be in order

What's the highest profits Uchumi ever posted before its collapse?

At an EPS of 4.81, and growing at over 100% in profits, the results for 30th June 2011 may just hit Ksh 9-10 earnings per share!

If on relisting, the stock is to trade at a P/E of 5, this translates at a Price of about Ksh 24!!

Have they factored the dilutional effect of converting debt to equity that was part of the restructuring?

Happy hunting

Sparkly & Stockmaster, No - Uchumi has NOT factored the conversion. Why, I simply can't tell, unless the new shares were preference perhaps? Also, note that of the EPS of 4.81, the tax credit contributes Kshs 2.40 while investment income contributes Kshs 0.72 leaving a normalised EPS of Kshs 1.68. I would still consider that a GREAT performance!!

Why does the CMA dither on re-listing them?

Many firms make losses... but it is time to re-list!

HAHAHAHA I SEE MANY PEOPLE WHERE BURNT BUY UCHUMI HERE...

BTW, i don't lose any sleep about this, I wrote it off a long time ago. If it comes back, I'll think of it as a bonus and hold it for another 3 years