BUY: HomeChoice InternationalShare price: R38.10JSE code: HIL The attributes of this specialist retailer are unlikely to resonate too well with institutional shareholders. HomeChoice was delisted by the current majority shareholder in a most unsporting fashion in 2002, and the institutional memories are long and bitter. The fact that HomeChoice’s tenure as an unlisted company was hugely rewarding for the shareholders who were able to stay onboard has only increased the animosity. That said, the new-look HomeChoice International has returned to the JSE with a more compelling business model in the form of a broader retail offering and a slick financial services pitch to the company’s best-paying clients. Its shift from traditional catalogue sales to multichannel retail, with a growing digital sales platform and a showroom presence, is also intriguing. It seems that the costs of the showroom rollout might not require HomeChoice to seek fresh capital from the market. HomeChoice had prev...

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