wanaj0:

Most of the companies merged or acquired others. Some did rights/public offer with different levels of success. Some spurned off certain segment of their businesses.

I have UNIC, NEM and AIICO. Note that I bought them at relatively cheap price some 15 months ago. Not bought anyone this year. Sold part of my holdings this year in those companies when they were at their year high.

Me I don't have the fear of Wema. Sold what I need to sell to lock in profits and moved to something else.

I know I downloaded it a while back. Thanks. Let me revert to it. This should be interesting.

Temmie10:

@pumping
you're quite right about Nascon not adding up.
But you have to look back. Its a similar case to the insurance companies.
Before merging with dangote salt, Nascon's half year PAT was 4m naira or so. Now its 500m.
The restructure is what has been priced into the stock price.

Somehow I don't see a PAT of 2B from Nascon this fiscal year but I won't bet on it. Maybe. Just maybe.

@RoughCut,

I love your list as per Ins. coys but what about  AIICO and NEM?.

Peace.

tonyjon,
Trying to network nairalanders that reside in the TO area . Pls get in touch, my email is listed.

cheers.

tonyjon:

@RoughCut,

I love your list as per Ins. coys but what about AIICO and NEM?.

Peace.

I assume your post was meant for wanaj0 i dont hold any ins stocks but that may change now.-)

@hispy99

I have read the report and i dont like the smell of what's inside as far as the acqusition of CSL stockbrokers is concerned. For starters FCMB is shelling out $100M(N12.5B) to acquire and capitalize CSL. This is a company that is projected to generate $13.5M(N1.6B) in 2010 representing a paltry 5% of the attributable income to the FCMB group. The net worth of CSL is estimated at $2.2M(N275M) and correct me if i'm wrong net worth is the difference between assets and current+long-term libilities(sorry i'm not an accountant) and the annualized PAT for 2007 is estimated at $7.4M(N925M) so if they are projecting an income of N1.6B in 2010 in effect they expect to grow earnings by only 700M in the intervening 2 years

This doesnt sound like a good investment to me but guess what? CSL is owned by you guessed it! Otunba Subomi who is the father of the current MD

I guess this one is off my radar

H2 Results for UNIC out!

Earnings - N1.065B
PBT - N300.33M
PAT - N250.61M

Marginal improvement from same period last year, still a good result vis-a-vis its o/s no. of  shares (2.6B) and its current price

The company says the H2 result reflects the challenges of trapped funds as a result of the on-going insurance industry recapitalisation verification exercise, the run off (exit) of its non-life insurance portfolio and staff right sizing. And that barring any ,  (u know the usual gist!)

Note, the disappointing FY 2006 result shows a EPS of 8K, whilst the Half Yr Result shows a EPS of 10K, so Likely price target in the region of N3.50 - N4.

RoughCut:

@hispy99

This doesnt sound like a good investment to me but guess what? CSL is owned by you guessed it! Otunba Subomi who is the father of the current MD

To make an even more omnious connection, Otunba Subomi started and probably still owns most of FCMB.

pumping777:

To make an even more omnious connection, Otunba Subomi started and probably still owns most of FCMB.

So i guess he's reaping the benfits of his labour. A wise man leaves an inheritance for his children

no_shaking:

H2 Results for UNIC out!

Earnings - N1.065B
PBT - N300.33M
PAT - N250.61M

Marginal improvement from same period last year, still a good result vis-a-vis its o/s no. of shares (2.6B) and its current price

The company says the H2 result reflects the challenges of trapped funds as a result of the on-going insurance industry recapitalisation verification exercise, the run off (exit) of its non-life insurance portfolio and staff right sizing. And that barring any , (u know the usual gist!)

Note, the disappointing FY 2006 result shows a EPS of 8K, whilst the Half Yr Result shows a EPS of 10K, so Likely price target in the region of N3.50 - N4.

Thanks. I've been asking for this all day. Do you also have the FY results?

United Bank for Africa Buys 49% of UK.'s Afrinvest
   

United Bank for Africa Plc, the largest lender in west Africa by assets, bought a 49 percent
stake in London-based Afrinvest Ltd. to lure more British investors.

Afrinvest, a closely held investment bank that focuses on African securities, will change its
name to UBA Capital (Europe) Ltd., the Lagos-based lender said today in an e-mailed
statement. UBA won't disclose the terms. An Afrinvest spokeswoman, who declined to be
identified, said from London. ``Now we can provide the London emerging-markets investing
community with the broadest portfolio of African fixed-income and equity products available,
'' Afrinvest Chief Executive Officer Philip Ihenacho said in the statement.

UBA, which has units in Ghana, New York and the Cayman Islands, plans to expand in India
and China to tap increased interest from foreign investors in Nigeria, Africa's largest oil
producer and most populous nation, and the rest of the continent. A partnership with UBA
will help increase the number of African companies that Afrinvest researches.

UBA, which over the past 18 months has traded $8 billion worth of Nigerian securities, also
plans to expand its reach across west, central and southern Africa, according to its Web
site. Standard Bank Group Ltd., based in Johannesburg, is Africa's largest lender with assets 15
times that of UBA.

- Bloomberg news

I got this off the Nigerian Securities website but could not find it on bloomberg. Elumelu is really expanding his horizon.

The link is not working.

@ no_shaking,
it seems your source of company results are quicker and more detailed than mine. Would you mind sharing? Pretty please!

I could not resist buying some unic @ 2.40 last week and if it goes anywhere near N3 I'm out.

easimoni:

@ no_shaking,
it seems your source of company results are quicker and more detailed than mine. Would you mind sharing? Pretty please!

Yes o. I've always had an early view from Meristem but I'm surprised the list today did not include Unic. Please share your source.

I don't know what to make of this UBN results until they post some interim result. If the goodwill was written off the premium account, the result is no so impressive.

UBA gave away 87% of it's PAT as dividends. Wow.

UBA or UBN ?

UBN is giving away 78% of PAT as dividends.

At least we know it is not paper profit.

My bad, I meant UBN. And they are giving away 12B out of a PAT of 13.8B (~87%)

easimoni:

@ no_shaking,
it seems your source of company results are quicker and more detailed than mine. Would you mind sharing? Pretty please!

Today's Punch Newspaper. Sometimes companies place results on the pages of the newspaper before releasing the said results on the floor of the NSE the following day. Also, news flash from IBTC via email!

@ WANAJO

Do you see any penny stock that has good potentials say in 12 to 24 months,

easimoni:

My bad, I meant UBN. And they are giving away 12B out of a PAT of 13.8B (~87%)

cant complain though i have had this stock for two years now and its just been stagnant so time to jump ship!

no_shaking:

Today's Punch Newspaper. Sometimes companies place results on the pages of the newspaper before releasing the said results on the floor of the NSE the following day. Also, news flash from IBTC via email!

Ah, I see. Well that precludes the diasporans like pumping and I from seeing them. Pls continue to share. Much appreciated.

Why did I stop my BUY order for May and Baker. And Wanaj0 has been blowing their trumpet for months.

easimoni:

I got this off the Nigerian Securities website but could not find it on bloomberg. Elumelu is really expanding his horizon.

The link is not working.

The news is on UBA's website.

http://www.ubagroup.com/news/pressnews_110607.asp

interesting comments from wema's head of communications, i would not be surprised if a bonus is given at full year or at least a substantial dividend.
http://www.guardiannewsngr.com/capital_market/article01

po

These IPOs how fast can you get your certificates and sell them, i have still not received my certs for UBA and Oceanic Bank and i would like to sell them.

,m

To all GURU's

Does anyone has an idea if N.E.M insurance or the Insurance sector as a whole will still fall befor the end of the year, or is this the right time to get them.

I want to get NEM insurance ant 2.00 or 1.50k , pls can it drop to this price again?


PLS. Reply Urgently my Gurus in the room.

Learnt that the First Bank allotment is out. Anyone above 10,000 units will get refund of money!!!! That no easy OOOO

@wanajo. u are sure about that?

how would they get the 250billion they intend to absorb if they wont allot for those above 10000k units?hope u get my point?

damoche07:

@wanajo. u are sure about that?

how would they get the 250billion they intend to absorb if they wont allot for those above 10000k units?hope u get my point?

Sorry if I confused you. Anyone above 10,000 units get partial allotment

10,001 - 15,000 units get 74% allotment
15,001 - 25,000 units get 50% allotment
25,001 - 50,000 units get 30% allotment
50,001 - 75,000 units get 23% allotment
75,001 - 100,000 units get 21% allotment
50,000,001 and above gets 5.35% allotment

Note that all those under the preferential allotment category got all that they requested for!