i tire for the girl oh, small small now, investors are not cows u,ll have to start directing, we understand ur plight for Zenith, yes they,ve tried, can,t u discuss something else? ok now i understand, you are their marketing personel. but don,t give us headache.

DEAR NAIRALANDERS!!
SOMEONE WITH A GOOD KNOWLEGDE OF STOCK TRADING SHOULD ADVICE ME ON BAGCO SACKS IPO

URGENT REPLY IS NEEDED!!!

Osazeet, Wont pick an argument with you.

Anyway guys News Flash for Results

Check Below and Happy Viewing

That,s exactly what i expected of you, to discuss another subject, i wasn,t trying to wage any argument with u, u were becoming too enthusiatic, sentimental in ur advert that,s all. Thanks all the same and sorry if i offended you, you may chat with me one on one if u don,t mind.

Great result.
Fidelity is currently overvalued but with their current growth rate, I think it is worth its High PE
Union Bank surprised everyone and it is even more attractive now than most of the banks if they keep this growth rate and coupled with the injection of foreign investors in to the bank.

Temmie10:

@naijadr
whats uba stockbrokers like? are they timely in executin orders?

Its about 2 business days to buy/sell, myself and a couple of friends, and some on here use it, its the UBA NRN (Non resident Nigerian) acct. Their online portal isnt functional, but they said it'll be up and running by start of 2008 I believe, so all transactions are done via email for buy/sell orders. The Relationship officer that I deal with is very efficient, during Naija business hrs sometimes I get a response in as little as 9mins (like today I did) but never longer than a business day. I get an invoice for all money transfers, and I get a statement balance everytime I buy or sell.
Minimum to open is N250k (but you need to open current acct with N100k before that), after current acct is open, all you need to keep it open is N5k, so N95k from that can go towards the N250k minimum

The reason I really like it is its like a 1 stop shop esp with a reputable bank. I get to have a current account and a capital market acct. I can send money to my acct from my bank acct or credit/debit card to my UBA acct in 2 business days using www.ubaremit.com and the rates are cheaper than western union, sending $2000 costs like $12 to send or so. Once it gets there I just issue a transfer order to go from my current acct to capital acct along with a buy order. I don't have to deal with sending western union to someone, the money always stays in 1 of my accts. If I'm going to naija, I can send money to my acct, and walk into any UBA branch office and get it.

Plus they have Mortgage benefits which is 1 of main reason some of us went with them, basically with an NRN acct, you will be approved for a mortgage if you get approved for the same amt in your country (US/UK/Canada). They use your income in your country to approve you for the loan. Here are the mortgage benefits below. Locations for right now are Lagos, PH, ABJ, Enugu, Asaba, Ibadan, Benin, Owerri, Jos, Abeokuta, Calabar, Kaduna, Kano, Makurdi, Maiduguri, Yola, and other state capitals are considered on a case by case basis.

Maximum loan amount: $310,000 (equivalent in GBP and Euros), $540,000 for executives of

Reputable Corporates

Minimum loan amount: $40,000

Minimum Equity Contribution: 20% LTV for employed Professionals and 30% LTV for self-employed

Professionals

Tenor: Maximum of 15 years (180 months)

Interest Rate: 180 Day LIBOR (taken as 5%) plus 2%

Fees: Management Fee of 1 % flat per quarter
Upfront Fees which all add up to which i1.5% (one-off)

the insurance companies picked up very well today. Looks like the consolidation news is catching up.

I don't do crystal balls but with the pattern in the market currently, i think another bull run is just around the corner.

I hear from friends in naija that the insurance sector reserve cash has been released, how true is this?

Easimoni oh! where are u?

whitelexi:

I hear from friends in naija that the insurance sector reserve cash has been released, how true is this?

Easimoni oh! where are u?

I just woke up and this thread has covered 3 pages and I have a mgmt review in an hr. U people no go kill person!

Good news about Ins. Shame I still have some cash left over from my part sale of Wema. Looks like the bull has left the station.

UDK:

@Walcolm

Globe RE did not make the list of 49 insurance companies that made the recapitalisation. What will be the fate of investors in the concluded PP? Use link to access list. http://www.tribune.com.ng/15112007/news/news3.html

the reason GlobeRe is not on that list is that they are technically supposed to have become one entity with Nigerian-Re. i understand that now that govt has basically revoked the sale of Nigerian RE, Globe RE can de-merge from Nigerian Re and stand on their own

Has the official list of 49 insurance companies been released yet!!! Sure Mbenefits is on the list. The time to finally smile to the bank is fast approaching regarding the insurance industry.

ololufemi:

Osazeet, Wont pick an argument with you.

Anyway guys News Flash for Results

Check Below and Happy Viewing

Thanks for the news. Fidelity now projects well towards the 2008 FY forecast in the PO prospectus. Those who bought should now have more confidence in their decision. I still maintain that FCMB's numbers were slightly better.

@Walcolm

My bad!!! i see the list has been released. Any projections for Mbenefits.

Seems Wema has been placed on technical suspension.
Can someone confirm this?

EMMAACHILE:

Seems Wema has been placed on technical suspension.
Can someone confirm this?

I see that the price did not move in any direction today. For such an in-demand stock, that is a sure sign of TS. _{Phew. That was close!}

@ Emmaachile

Just got an email from Proshareng. Wema has been placed on Technical Suspension.

easimoni:

I see that the price did not move in any direction today. For such an in-demand stock, that is a sure sign of TS. _{Phew. That was close!}

very very close

@ALL

picked this up from somewhere

"The Nigerian Stock Exchange has today placed WEMA BANK Plc on technical suspension following the receipt of its application for reconstruction of the Bank's issued share capital/foreign capital injection."

If Wema has been placed on tech suspension, its good so we plan to buy more.

Guys Wema should be mates with either Access, FCMB or even Diamond.

Its really a forward looking organisation with great potentials.

I can smell a lot of Public Offers coming soon.

Keep your money bags open.

UBN is on course to do ~N30B for full-year no wonder transactions involving this stock has been in billions in the last 2 days may be i should ride my luck a bit more before i offload i'm looking at ~N55 as my exit point

The giant is slowly being roused from its deep slumber!

It seems the rumour of a foreign investor definitely had meat then. It'll be interesting to see how this plays out. I'm staying put.
Attention jumps to Insurance, this is like having your bread buttered on both sides

RoughCut:

UBN is on course to do ~N30B for full-year no wonder transactions involving this stock has been in billions in the last 2 days may be i should ride my luck a bit more before i offload i'm looking at ~N55 as my exit point

The giant is slowly being roused from its deep slumber!

amen to that bro

Guys which side are you on,

The Bulls or the Bears

You decide

Temmie10:

It seems the rumour of a foreign investor definitely had meat then. It'll be interesting to see how this plays out. I'm staying put.
Attention jumps to Insurance, this is like having your bread buttered on both sides

UBN was looking to offload 30% equity to foreign investors and  Merryl Lynch, Citigroup and HSBC have shown their hands  but it looks like the  management has decided to go with HSBC and Merryl Lynch so we are going to be co-owners with these heavy-weights. I think they are going to increase their authorised share capital to accommodate  the capital injection for which i understand they have already got approval from the AGM

May be i will stay put afterall_{No shaking!}

ololufemi:

Guys which side are you on,

The Bulls or the Bears

You decide

i cant make out the bear from the bull may be you need to increase the resolution or magnify your picture

@ easimoni, you are right. the bulls are coming back in full force. nigerian german is now 19 naira and i havent enterd. do u think it will still come down a little cos at 19naira, there is not much room for gain again.
is it true the insurance funds have been released by the way

UBN is not increasing their authorised share capital the directors are instead giving up 30% of their own equity in the bank to the foreign investors

Someone will be making serious cash here_{i mean the directors}

http://www.punchng.com/Articl.aspx?theartic=Art200709171521281

chei chei chei!!
missed wema tech susp by 1 day.

just hope there's a bull run after its lifted
does anyone know what all the talk about share reconstruction/foreign investment for wema is about?

Its now viv la crusader gents! its just gone higher than my entry price sice i bought it at N4.45

let the good times roll!

aktopgun,
when you say missed, did you sell or fail to sell? I hope you sold so you can quickly buy some Ins Coys with the proceeds.

aktopgun:

chei chei chei!!
missed wema tech susp by 1 day.

just hope there's a bull run after its lifted
does anyone know what all the talk about share reconstruction/foreign investment for wema is about?

Its now viv la crusader gents! its just gone higher than my entry price sice i bought it at N4.45

let the good times roll!

I still have ~30% of my WEMA left. According to proshareng it is going to be  issued share capital reconstruction which means they cancel some shares and adjust the price accordingly. Depends on what ratio they want to do the reverse split if they reduce the shares outstanding (about 10B) by half it means  my holding will reduce in half but double the price which makes the value of my holding the same i.e assuming they do a 2:1 reverse split.

That way they can accommodate the foreign equity without doing a PO. The proportion of the cancelled  shares will simply be sold to the foreign investor in return for cash injection

Those guys are very very  smart many igbosas to them!

roughcut, men u just returned the joy to my soul
thanks man
see u at the bank!!
kching!!!!!!!!!!