easimoni:

Hmmm. Maybe Stanbic brings more to the table than we realize. If the addition of Stanbic enables IBTC to double earnings, it's well worth 20 bucks. Only time will tell. Not a chance I'm willing to take.

Merger with Stanbic places IBTC in a good position to profit from BIG ticket transactions like the MTN deal. With so many South African companies coming to Nigeria, that is a big market.

Intercontinental is also set to gain from the Asian investment in Nigeria especially the Chinese.

Expect more strategic deals.

frankiriri:

While I agree with easimoni and co that bonuses should not count for much, I think that the signalling effect it has may be one reason why even institutional investors would place a higher value on a coy that issues bonus. Take Zenith for example, they are not known to issue bonuses and for them to have done so this year may have been as a result of management's consideration that they would generate enough profit to support the current dividend level well into the future.
Also the idea of dumping a good coy's stock just because it issued a bonus does not sit well with me. You may find it pretty difficult getting back in at a good price.
My advice- even if you don't believe it, take measures to profit from it

I am not against bonuses. At least it really changes nothing!

My concern is when loss making companies or companies having dwindling profit continue to give bonus to cover their back. AIICo for example was giving bonuses when profit was dwindling. I don't like that. It get more disturbing when you give bonus without a cash dividend.

GTB is generous with bonus and dividend. I love them. The fundamentals can support it. They always tend to grow profit to support the the increase in oustanding shares.

NBL was giving bonus when they were not growing profit. See where it landed them.

Maybe it is because I am not a speculator. I don't just buy a stock just because of bonus or rumours of a bonus. I tend to buy based on the VALUE that such companies hold.

I will not dump a stock just because they declared a bonus for as long as they can grow profit to meet the demand of the new shares.

Risky, you said it all. Investing philosophy differs depending on individual personalities. That's why there is no RIGHT or WRONG answer. It all depend on WHO you are and what your investment OBJECTIVES are. What is good for one person is not necessarily good for the other. That's why we need to be careful when making general statements because some people will swallow it hook line and sinker.

Thanks for your insights.

wanaj0:

Risky, you said it all. Investing philosophy differs depending on individual personalities. That's why there is no RIGHT or WRONG answer. It all depend on WHO you are and what your investment OBJECTIVES are. What is good for one person is not necessarily good for the other. That's why we need to be careful when making general statements because some people will swallow it hook line and sinker.

Thanks for your insights.

Very sensible .

easimoni:

All,
hope you saw Law Union & rock's 9 mos results. 537M over 9 months. With 3.437B shares, that's an annualized EPS of 21k. Not bad for a N3 stock. Hope other insurance companies will release similar results.

must have missed the results but this is definitely a welcome development.

@wanaj0

ref: "How the current price ok" and "Water will always find its level"


stock Current price water will find level price

Wapic 7.00 ??

Cursader 4.38 ??

Niger 4.00 ??

M Benefit 3.00

Allco 3.73

NEM 2.33


Oga wanaj0, pls can you help me with likely price that i can take a position with.

And thank you for that Bonus lesson of yesterday.

waiting 4 my oga reply.

Thought GTB half year result is due? Should we expect it this month? Is Bank PHB pursuing GTB? What with their first quarter results of N3.5b, N3.5b? Many things are happening

Mr. Risky:

Thought GTB half year result is due? Should we expect it this month? Is Bank PHB pursuing GTB? What with their first quarter results of N3.5b, N3.5b? Many things are happening

not likely!!!! GTB s profit is forecasted to be 18bn. bank PHB is 14bn. gtb will also have fewer shares after the po.
gtb is one of the best banks going forward.

Hello all,
Pls i need a good stockbroking firm recommended for me. I want to start investing in shares(especially trading on the floor). I reside in PH and want to start with Between N50K - N100k.

Thanks.

easimoni:

All,
hope you saw Law Union & rock's 9 mos results. 537M over 9 months. With 3.437B shares, that's an annualized EPS of 21k. Not bad for a N3 stock. Hope other insurance companies will release similar results.

Easimoni,

This is good news for me, their 9 months result is way over the expectation based on their half yr result. They should be get to 700-800M by yr end and thats a serious jump from the 2006 PAT.

This is looking good, let see what others have to offer.

CBANJ:

Easi, just noticed your signature, big Heroes fan eh?

HUGE FAN. Best show on TV.

Mr. Risky:

Thought GTB half year result is due? Should we expect it this month? Is Bank PHB pursuing GTB? What with their first quarter results of N3.5b, N3.5b? Many things are happening

GTB is usually good about releasing within 6 weeks of the close of any quarter. Should be any day now. But the GDR propsectus did not contain any enticing forecasts.
Speaking of forecasts, anyone have the FCMB prospectus yet. Googled it to no avail yesterday.

Hello all,
Please i need a good stockbroking firm recommended for me. I want to start investing in shares(especially trading on the floor). I reside in PH and want to start with Between N50K - N100k.

Thanks.

[/quote]  Will time tell?


For me, it is easier to recommend a girl as a wife than to recommend a stock broker.  Are they really different in their service delivery?  What seems different to me is the KIND OF ACCOUNT OFFICER attached to you or you chose on your own based on personal understanding.  WHEN WILL THEY IMPROVE?[quote author=ceceters link=topic=31554.msg1591605#msg1591605 date=1192622716]

easimoni:

HUGE FAN. Best show on TV.

GTB is usually good about releasing within 6 weeks of the close of any quarter. Should be any day now. But the GDR propsectus did not contain any enticing forecasts.
Speaking of forecasts, anyone have the FCMB prospectus yet. Googled it to no avail yesterday.

Yaa will send the link depends on which version you are after. There is an abridged version about 30 pages and there is the full version about 94 pages (but there is a lot of information which is very very useful still digesting the info myself)
Be right with you

Mr. Risky:

Thought GTB half year result is due? Should we expect it this month? Is Bank PHB pursuing GTB? What with their first quarter results of N3.5b, N3.5b? Many things are happening

In 2004, GTB released the interim result on 19/10/2004. 2005 it was released on 17/11/2005. 2006 interim result was released by 26/09/2006. So for 2007, I will expect that within the next two to three weeks the result should be out. Not expecting anything fantastic.

RoughCut:

Yaa will send the link depends on which version you are after. There is an abridged version about 30 pages and there is the full version about 94 pages (but there is a lot of information which is very very useful still digesting the info myself)
Be right with you

easi

The link for both abridged and full version. The full version contains lots of useful info so if you have time have a look at the stats section in particular

http://www.firstcitygroup.com/newfcmb/investment/downloads.aspx

Lets have your take on the FCMB prospectus ,

I will also read it for discussion.

what will the oracles say about the ecobank and sterling bank merger , i have lots of sterling bank

A couple of things to take into consideration when doing your number crunching

They have said in the event of over-subscription they will absorb 25% of the subscription subject to their authorised share capital so i reasonably assume there will be an oversubscription so the shares that will be listed as a result of this offer will be 5.6B instead of 4.5B(the prospectus has not taken this assumption into consideration) and added to what is outstanding already there will be a total of about 15.1B shares listed instead of the 14B  projected in the prospectus

Also there is a GDR component(fully convertible) of USD100M which will result in the listing of additional 900M in addition to the 15.1B i projected above

For the YEnd 30 April 2008 their projected PAT is N15.08B but they will be allocating about N853M of out PAT to preference share holders as dividends so when calculating your forward EPS subtract this sum from the projected PAT which gives you an adjusted EPS

Just a couple of observations from what i have read

harrisoft:

@wanaj0

ref: "How the current price ok" and "Water will always find its level"


stock Current price water will find level price

Wapic 7.00 ??

Cursader 4.38 ??

Niger 4.00 ??

M Benefit 3.00

Allco 3.73

NEM 2.33


Oga wanaj0, please can you help me with likely price that i can take a position with.

And thank you for that Bonus lesson of yesterday.

waiting 4 my oga reply.

No Oga for here OOOOO.

If the information I got as per the oustanding shares are right, a good entry price for me based on my PERSON (risk profile, investment objective and philosophy) will be:


Crusader  < 4.50
Niger  <2.5
MBenefit  < 2.0
AIICO    < 2.50
NEM < 1.0

That's my personal opinion based on available info.

FCMB looks better than Fidelity for sure!!!!! Also, most of the funds to be raised will be contributing to profit within one year. Looking attractive to me.

I have some 500,000 units of UNTL shares to offload. Any buyer? Just kidding Anyways AP don reach 101 today ooo. What is going on there?

Wanajo,
Your price take on your choice insurance stocks is a great one. Serves as a guide for many, whether trading or investing. Thanks. But for those who have lumped so many units at a higher price, take heart. It is the turn of the Insurance sector to surprise us this time, not the other way round. You saw what LAW UNION has done? Many great things are in the offing.

wanaj0:

FCMB looks better than Fidelity for sure!!!!! Also, most of the funds to be raised will be contributing to profit within one year. Looking attractive to me.

A lot of the projects they have earmarked the offer proceeds for are already on-going so not 'greenfield projects' per se and a handsome proportion of what they raise will be used in acquiring 100% equity in one of their subsidiaries and also shoring up the capital base of other subsidiaries. Good business strategy for organic growth.

Mr. Risky:

I have some 500,000 units of UNTL shares to offload. Any buyer? Just kidding Anyways AP don reach 101 today ooo. What is going on there?

Wanajo,
Your price take on your choice insurance stocks is a great one. Serves as a guide for many, whether trading or investing. Thanks. But for those who have lumped so many units at a higher price, take heart. It is the turn of the Insurance sector to surprise us this time, not the other way round. You saw what LAW UNION has done? Many great things are in the offing.

Risky, my price is based on my personality so it is not cast in stone. Some are more adventurous. Some are more bullish.

On UNTL, it provided me with some learnings. Many years ago, placed an order for my broker to buy UNTL. Then the price was about 2.00. Many months after, I got a contract note that it was bought at 4.75. I was furious. Since that day, I learnt that you MUST always set a price limit for any order. Secondly, all my orders must expire after a certain period!!!!!

Well, you are better off dashing your UNTL shares to charity! They will surely pray for you. That company is DEAD!!!!

RoughCut:

A lot of the projects they have earmarked the offer proceeds for are already on-going so not 'greenfield projects' per se and a handsome proportion of what they raise will be used in acquiring 100% equity in one of their subsidiaries and also shoring up the capital base of other subsidiaries. Good business strategy for organic growth.

I am actually impressed by the strategy instead of all this branch expansion nonsense that others are going into.

I see them getting involved in mortgage financing. I think I will take a look at them

There is about N5B out of the total loan portfolio as outstanding loans to some Directors/Shareholders of the bank. There was a sharp increase from about N1B to about N5B between 2005-2007. Apparently some of the principal shareholders have leveraged(borrowed) to acquire their equity holding in the bank. They have classified these loans as performing loans so a bit of comfort there!

Hi guys, learnt Red Star Express is coming out for an IPO.whats your take on them preprospectus.anyone out there with what their price might be and their prospects.will it be worth saving some cash for.

http://www.punchng.com/Articl.aspx?theartic=Art20071017059053

damoche07:

Hi guys, learnt Red Star Express is coming out for an IPO.whats your take on them preprospectus.anyone out there with what their price might be and their prospects.will it be worth saving some cash for.

http://www.punchng.com/Articl.aspx?theartic=Art20071017059053

They did a SECRET private placement this year at 4.00. I expect a serious stock split and bonus to have taken place so as to still do the IPO at the 4.00 - 5.00 range.

That's why I need TransExpress fast.

Anyone watching Capital Oil??

@wanjo


Ref:
Crusader < 4.50
Niger <2.5
MBenefit   < 2.0
AIICO     < 2.50
NEM < 1.0
That's my personal opinion based on available info.



Thank you very much for your quick reply sir.

Sir, do you expect this price to get that low b/w now and March 2008.

or it will continue to go up till March 2008.

(I am complieing you personal Opinion and every thing you post on this site, it mean so much to me sir.)

waiting for your reply, sir.

wanajo

have u read my email?

harrisoft:


@wanjo


Ref:
Crusader < 4.50
Niger <2.5
MBenefit < 2.0
AIICO < 2.50
NEM < 1.0
That's my personal opinion based on available info.



Thank you very much for your quick reply sir.

Sir, do you expect this price to get that low b/w now and March 2008.

or it will continue to go up till March 2008.

(I am complieing you personal Opinion and every thing you post on this site, it mean so much to me sir.)

waiting for your reply, sir.

Well NEM is on a free fall. Not sure the prices will fall that low. Question should be how high can some of the prices go from where they are now.

For me, Crusader is the jewel in the crown. That's one to go for.

MyPeace:

wanajo

have u read my email?

Yes I ahve. But we need to talk more.

We fit beg the guy small. Do not need that many units! Haba?

@ wanajo, FCMB looks like been the most solid banking offer out of the latest ones. and its projections make sense cos they have already acheived 130% growth fromQ1 result. better than fidelity by miles and miles.
been offerd at a pe of 23, which aint too bad for banks and a forward pe of 14, the lowest of all banks, (outstanding shares inclusive)