http://www.reuters.com/article/nigeria-forteoil-idUSL8N1JG52Q

It said its fuel distribution and power business accounted for 95 per cent of its operating profit and that it hoped to announce its half-year audited account before July 31.

stcool:
http://www.reuters.com/article/nigeria-forteoil-idUSL8N1JG52Q

It said its fuel distribution and power business accounted for 95 per cent of its operating profit and that it hoped to announce its half-year audited account before July 31.

with dis audited Q2, should we xpect any dividend?

Princkez:
with dis audited Q2, should we xpect any dividend?

Don't be in a hurry, the company is trying to raise funds over 100 billion needed. It has raised 9 billion in bonds, next phase is 20 billion through equity.

Be rest assured that the year end dividend would be mouth watering as usual. According to the CEO, power sector contributed 20 per cent, upstream five per cent, and the downstream contributed 75 per cent for 2016 year end.

In the long run more revenue to be generated from power sector, and i hope they prepare for the NNPC biding when it is open, so I guess they are doing the right thing raising capital ahead of time.

My best advise, if you have the money...FORTE OIL below #80 keep accumulating.

The Federal Government has set aside N100 billion for the construction and rehabilitation of 65 roads and bridges to enhance transportation, according to Minister of Budget and National Planning, Sen. Udoma Udo Udoma. He said the amount was earmarked for the rehabilitation of Lagos/Ibadan road, N13.1 billion for Kano/Maiduguri road and N10.63 billion for Enugu/Port- Harcourt road. “We have N7 billion for the second Niger Bridge which connects the East with the rest of the country on that sides because it connects not just from Delta but all the way to Lagos. “N7.12 billion for Abuja/Abaji/ Lokoja road, N9.25 billion for the Obajana junction to Benin road, N7.5 billion for the Onitsha/Enugu dual carriage way and N7 billion for the construction of the Bodo/ Boni road. “Let me say something about the Bodo/Boni road, it is again one of the things that this government is doing, we are tapping private sector partnership for infrastructure.

There was cause for celebration Monday, when the federal government issued its first diaspora bond in the international capital market, raising the sum of $300 million at coupon rate of 5.625 per cent for a tenor of five years.

The Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo, explained in a statement Monday that the diaspora bond, which was 130 per cent subscribed, was targeted principally at Nigerians abroad, to provide them with the opportunity to contribute to national development.

According to Nwankwo, the bond was structured as a retail instrument to appeal to a wide range of investors and was offered through private banks and wealth managers, rather than institutional investors, which normally deal in large volume transactions.

He revealed that there was considerable interest from investors from all over the world, with the issue attracting initial orders of about 190 per cent of the offered amount.
Final subscriptions were about 130 per cent of offer at the final price for the transaction.
“The diaspora bond has opened a new source of financing for the Federal Government of Nigeria for funding projects for the development of the country.

“This new window further enhances funding liquidity and flexibility of the Nigerian economy, which are necessary characteristics as the country gathers momentum towards the attainment of advanced economy status,” he said.
Nigeria is the first African country to issue a bond targeted at retail investors in the United States, a market highly regulated by the United States Securities and Exchange Commission (U.S. SEC).

The only previous U.S. SEC registration for an African country was targeted at institutional investors.
The issuance of a bond registered by the U.S. SEC provides an opportunity to access a wide range of investors, Nwankwo explained.
With this development, Nigeria can now routinely access funds from private banks and wealth managers in the U.S. and European markets: this opportunity is not available to other developing countries that have only issued Eurobonds.

Reacting to the successful debt raising, the Minister of Finance, Mrs. Kemi Adeosun, said: “To have received the approval of the U.S. SEC was indicative that the highest level of transparency and accountability in the economic process has been attained.”
She explained that the bond should positively impact the country’s credit rating, transparency rating and financial market development index rating.

“The Diaspora Bond is the first bond issued by an African sovereign registered with both the U.S. SEC and the United Kingdom Listing Authority (UKLA) and targeted at retail investors,” she stressed.

With the successful issuance of the debut Diaspora Bond, Nigeria will establish a programme for raising funds from Nigerians and Friends of Nigeria in Diaspora, as an avenue for continuous participation in the development of the economy.
Market experts also hailed the move by the country, pointing out that Nigeria was able to raise the sum under the very restricted U.S. retail market.

This, according to experts, opened new window for programmed sourcing of diaspora funds.
“Unlike the Eurobond which restricts you to only institutional investors, to be authorised by U.S. and European regulators to issue a retail product means you can now approach wealth managers and private banks. In short, you have no more real restrictions,” one analyst who preferred not to be named, explained.

The international Joint Lead Managers to the issue were Bank of America Merrill Lynch and the Standard Bank of South Africa Limited.
The Nigerian Joint Lead Managers were First Bank of Nigeria Limited and United Bank for Africa Plc.
Prior to its issuance, the presidential aide for foreign affairs and diaspora, Hon. Abike Dabiri-Erewa, had urged all Nigerians to take advantage of the first ever diaspora offer by buying into the bond.

She said her office and Nigerians in the diaspora were excited about the offer, adding that it was a unique way of lubricating the interest of Nigerians abroad to participate in the development projects being carried out by the Muhammadu Buhari administration.

Preparatory to the debt issuance, Nwankwo had led the federal government delegation, comprising officials of the DMO, Ministry of Finance, Central Bank of Nigeria (CBN), and the Budget Office of the Federation on investor roadshows that took place in major cities of the world, including London, New York, Miami and Geneva.

The Central Bank of Nigeria, CBN, on Monday sold another $190 million to meet customers’ requests in various forex segments. The apex bank which injected $831.5 million into the interbank forex market last week said it would soon introduce a new forex retail option. Speaking on the disbursement, the acting Director, Corporate Communications, Mr Isaac Okorafor, said in a statement in Abuja that the apex bank sold $100 million to authorised forex dealers through the interbank market, while $50 million was offered to Small and Medium Enterprises window. Accordingly, the invisibles segment was appropriated $45 million to meet demands for business/personal travel allowances, school tuition and medicals. The CBN reaffirmed its commitment to the ongoing forex policy and insist on transparency to guarantee stability in the foreign exchange market. Since the Investors and Exporters forex window was launched in April, the CBN has aided transactions by contributing 30 percent of the total forex

Chibuking81:

Mr Tony, separated the hotel from the transcorp and name it Transcohot when the price rose from 50 kobo to #6, without given the Transcorp share holders some percentage of share in the hotel.

The same way he removed the oil sector (oil well) from Transcorp and name it "Tone oil" with nothing to the existing share holders of Transcorp, and I believe that soon, he will remove the power sector before the expected huge amount will be paid to him.

He is just using Transcorp as one man business without considering the investors, and that keep moving Transcorp one step forward and 3 step backward.

https://www.google.com.ng/amp/www.nigerianmonitor.com/revealed-check-out-the-full-list-of-owners-of-nigerian-oil-blocks/amp/
In case if you are doubting go through the list you will see from the link above and check the owners of OPL 281 and OPL 2008 "that is Transcorp & Tenoil"

This is excatly my anger with most of this CEO'S, investors go through hell with them and when light starts to show up they start unbundling the company gradually for their selfish benefits. Leaving the empty can to small investors.

Look at what WALE is doing @Oando after raising so much from investors he keeps diluting their shares and divesting major revenue generating businesses. Why on earth would Oando divest its downstream assets to Helios

The least I expected them to do was sell to existing shareholders at the same price Helios was willing to pay, and list it as a separate entity on the stock exchange. You can't quantify what Oando share holders has gone through in the last 5 years.

If Tony is towing the same line, time will tell.

But they(CEO's) cant take decisions like this without the approval of their shareholders.

stcool:


This is excatly my anger with most of this CEO'S, investors go through hell with them and when light starts to show up they start unbundling the company gradually for their selfish benefits. Leaving the empty can to small investors.

Look at what WALE is doing @Oando after raising so much from investors he keeps diluting their shares and divesting major revenue generating businesses. Why on earth would Oando divest its downstream assets to Helios

The least I expected them to do was sell to existing shareholders at the same price Helios was willing to pay, and list it as a separate entity on the stock exchange. You can't quantify what Oando share holders has gone through in the last 5 years.

If Tony is towing the same line, time will tell.

Zhirinovsky:
But they(CEO's) cant take decisions like this without the approval of their shareholders.

Oando Ceo and his team are masters in their craft. Have you seen Oando financial documents and resolutions, my brother you will go crazy reading it. You need a highly experienced lawyer on standby to dig deeper. When they want to divest they tie it to raising money for business expansion and reducing debt.

I would never forget how they increased their holding in the firm through the back door at a much lower price, it was at that point the market knew their game plan and priced it accordingly. A lot of people on SMN complained about it and till date Oando has lost it.

Its like JBERGER has started NORTHWARD march.

Who has an idea the price the FG sealed the deal with Maybaker? The stock is on the way to #6.00. The hammerers don hammer here.

Pls anyone know any good or bad news about wemabank I have not yet fix an exit price

locodemy:
Who has an idea the price the FG sealed the deal with Maybaker?
The stock is on the way to #6.00.
The hammerers don hammer here.

http://www.vanguardngr.com/2017/06/fec-approves-nigeria-may-baker-vaccine-production/

He said the company would be expected to meet the nation’s basic vaccines requirements in the next four years with a take-off capital of N100 million.

Adewole added that May and Becker would make an equity contribution N1.3 billion while the federal government would contribute N1.2 billion

He said: “The company between 2017 and 2021 will produce basic vaccines that we need.

With this kind of news they can push the stock to #10. This is NSE!

jamace:
Its like JBERGER has started NORTHWARD march.

With Budget signed and money is being released. JB most move up

stcool:


http://www.vanguardngr.com/2017/06/fec-approves-nigeria-may-baker-vaccine-production/

He said the company would be expected to meet the nation’s basic vaccines requirements in the next four years with a take-off capital of N100 million.

Adewole added that May and Becker would make an equity contribution N1.3 billion while the federal government would contribute N1.2 billion

He said: “The company between 2017 and 2021 will produce basic vaccines that we need.

With this kind of news they can push the stock to #10. This is NSE!

It is not even available at the current price.I used to have 1,000,000 units of this stock and i held it for some years.Just around December last year,i sold it for additional fcmb shares.

If i tell you i am not regretting,i am a liar.

locodemy:


It is not even available at the current price.I used to have 1,000,000 units of this stock and i held it for some years.Just around December last year,i sold it for additional fcmb shares.

If i tell you i am not regretting,i am a liar.

That is one thing with NSE if few are holding the stock they just keep going, it is worst when you rush to sell in a rally not knowing it just started.

It's quite painful...

stcool:


That is one thing with NSE if few are holding the stock they just keep going, it is worst when you rush to sell in a rally not knowing it just started.

It's quite painful...

We have all been there at one time or another.

Intendy:
http://nse.com.ng/Financial_NewsDocs/18483_JULIUSBERGER-STRATEGIC_PARTNERSHIP_CORPORATE_ACTIONS_JUNE_2017.pdf

JB going into Oil and Gas.

What is the problem with diamond bank,are they going back to 52wks low?

OBAGADAFFI:


JB going into Oil and Gas.

What to expect when Adenuga and friends Ti Take over.

veecovee:
Pls anyone know any good or bad news about wemabank I have not yet fix an exit price

Don't get dissuaded. You're on the right track with WEMA as long as you're not buying for long term. If you know your technicals very well you can trade any stock in the NSE, even the illiquid ones. Just keep your eyes on the trend and bail out when you know the time is right.

stcool:


http://www.vanguardngr.com/2017/06/fec-approves-nigeria-may-baker-vaccine-production/

He said the company would be expected to meet the nation’s basic vaccines requirements in the next four years with a take-off capital of N100 million.

Adewole added that May and Becker would make an equity contribution N1.3 billion while the federal government would contribute N1.2 billion

He said: “The company between 2017 and 2021 will produce basic vaccines that we need.

With this kind of news they can push the stock to #10. This is NSE!

I think May n Baker is clearly going to N10, and maybe N15 with retracement. This is NSE, like you mentioned.

Access Bank has now taken over
the management of telecommunication company, Etisalat Nigeria.
Besides Access Bank, other local
and foreign banks are said to be part of the takeover of the telecommunication company which takes effect from June 15. The take-over came as a result of
a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by- one time Chairman, United Bank for Africa, UBA, Hakeem Bello- Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse. However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.
Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover on Tuesday in a letter filed to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate .

@intendy, bros pls what is going to happen eventually to Mobil minority shareholders who bought after the qualification date for nipco mandatory bid?

ihedioramma:
Access Bank has now taken over
the management of telecommunication company, Etisalat Nigeria.
Besides Access Bank, other local
and foreign banks are said to be part of the takeover of the telecommunication company which takes effect from June 15. The take-over came as a result of
a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by- one time Chairman, United Bank for Africa, UBA, Hakeem Bello- Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse. However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.
Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover on Tuesday in a letter filed to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate .

They would not hesitate to take over the firm since its a juicy sector so they can later sell to themselves. If it was their usual junk loans they would sell to AMCON. Access bank in particular are too aggressive. Their escapade with Uba's Capital Oil comes to mind. If not that he was more smart than the management.

But i must give it to FBNH. The resilience of the stock despite the battering by profit takers is a true representative of their 2017 symbol - The Spring.

I have rejoined the bus again. This time, its gonna be long term.

rahjan:
@intendy, bros pls what is going to happen eventually to Mobil minority shareholders who bought after the qualification date for nipco mandatory bid?

We are on our own bro.

Can anyone help me with first registrar email address or functional phone number!! Thanks

rahjan:
@intendy, bros pls what is going to happen eventually to Mobil minority shareholders who bought after the qualification date for nipco mandatory bid?

so far you bought after qualification pls take your mind off the #417.12k.
Then you are with a spoon they are with a shovel eating from the same plate.
if you can endure no wahala but they'll dictate the way you eat even with your small size spoo