aktopgun:

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

send me an e-cheque!

It was indeed a BULLISHLY good day @ the stock market 2day   . None of the insurance companies is showing a red flag. Owing to the current sentiments and bulging momentum, reckon each (except those on TS) would do at least 25% before retracement sets in!! Happy Investing

u too vex!!
i sure will.

so i guess all the talk about a public offer was as they say, BALDERDASH!!!
HA HA HA HA.
I honestrly cant stop laughing

roughcut
what say u?

shigidi:

@ 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 because at 19naira, there is not much room for gain again.
is it true the insurance funds have been released by the way

As at today the money is being released to  the 'lucky' insurance coys http://www.proshareng.com/myproshare/portal_news.php?id=3189

aktopgun:

roughcut
what say u?

all those whispers about a PO was a complete 'red-herring' they completely wrong-footed everybody! those guys up there at the head-quarters are master tacticians!

does anyone have access to the list of the "lucky 40" insurance coys

waht now becomes of the court case instituted by the NICON fella?

@roughcut
if u remember a few days back i suspected this to be the case
what am i? a genius or what!!!

i just hope my cheque book agrees with my currently overinflated ego!!

aktopgun:

@roughcut
if u remember a few days back i suspected this to be the case
what am i? a genius or what!!!

i just hope my cheque book agrees with my currently overinflated ego!!

May be you should be consulting for these banks on strategy and tactics

You these people, will not killy me. Haba !! in just 2 days, I have well over 5 pages to read!!!. God Bless Seun for starting this thread, thanks to easimoni, Wanaj0, roughcut , shigidi and others for keeping it alive.

Yes oooooooooooo Insurance has taken off!. Not one single red flag, I hope it continues like this oooo.

With additional 80B, the sky is the limit.

Can anyone share the list of of net bids on the floor today?

yodiyokun:

You these people, will not killy me. Haba !! in just 2 days, I have well over 5 pages to read!!!. God Bless Seun for starting this thread, thanks to easimoni, Wanaj0, roughcut , shigidi and others for keeping it alive.

Yes oooooooooooo Insurance has taken off!. Not one single red flag, I hope it continues like this oooo.

With additional 80B, the sky is the limit.

Can anyone share the list of of net bids on the floor today?

somebody just shared this with us very useful

@roughcut
u are still the master though
i defer to u and the other gurus any day
i'm a small but enthusiastic player

the young shall grow

now where have i heard that before?

anyway back to making some dosh< anyone got that lucky 40 insurance list?
a look in would be appreciated fellas

Here is the link to insurance companies.

http://www.leadershipnigeria.com/product_info.php?products_id=17695.

My mutual benefits dey there!!

yodiyokun:

You these people, will not killy me. Haba !! in just 2 days, I have well over 5 pages to read!!!. God Bless Seun for starting this thread, thanks to easimoni, Wanaj0, roughcut , shigidi and others for keeping it alive.

Yes oooooooooooo Insurance has taken off!. Not one single red flag, I hope it continues like this oooo.

With additional 80B, the sky is the limit.

Can anyone share the list of of net bids on the floor today?

And they wont be doing a PO soon with all that cash! so its all systems go but downside might be that the ins stocks may now become illiquid on the floor

aktopgun:

@roughcut
u are still the master though
i defer to u and the other gurus any day
i'm a small but enthusiastic player

the young shall grow

now where have i heard that before?

anyway back to making some dosh< anyone got that lucky 40 insurance list?
a look in would be appreciated fellas

and the old shall?

@ roughcut
get wiser!!
an old saying says no matter how many new clothes a young child has, he can never have as many rags as an elder!!

mutu01 thanks for the link

@roughcut

illiquid- that would mean high demand and less supply surely and hence u know what direction the prices will be heading!

@ easimoni, Wanaj0 and roughcut _{not neccessarily in that order}
make una help me o! i dont know much about stock market but u have been lucky over d past yr and a half. lucky in the sense of:
bought uba @ 13 and sold @ 54
bought access @ 3 sold @ 19

before wemas bad news, i bout 9000 shares @ 10 and now it has gone up to 15 and it is on technical suspension. that is some 50% profit. however, i dont want to hold on to it b4 they sort themselves out cos it may take some 2 months. what i wan you guys to advice is what insurance company can i buy. i just wan to make some more profit. i bought 250k worth of fidelity like 2 months back and the price hasnt moved cos of the tech susp and po and now the extension of the po.

if i had used that money somewhere else, i probably would have made somne change.
which insurance or penny stcks can i buy.

pls dont say it is up to me.
any help will be appreciated.

RoughCut:

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!

My interpretation is that the value of the shares I still own will remain the same but the PE/EPS will still get diluted once the cash injection for shares is effected. It's still the same effects as a PO but without the proliferation of shares/shareholders which causes excessive price volatility. I'll need more details to see if it's really a good deal or not.

this may be non of my business but if u can, try and read this thread for the last 2-3 months idowu
useful ideas are aplenty

believe in ur wema
don't lose heart

as has been said earlier fidelity may not be such a bad idea after all

be strong and of course patient!

@ easimoni
the eps shouldn' t be too damaged as the number of outstanding shares should reduce shouldn't it?, if its a reverse split to create space for a foreign investor

the outstanding shares shouldn't be too damaged so eps wont be too affected

isnt just a case of making some room for the new investor?

gotta run for a little while, duty calls
back soon

If you can sell your wema's, just do it and move on to better options in the market. Stocks are not for keeps but for the profit.

For the guy that have made 50%, exit the stock and move onto some insurance stocks such as Unic insurance and exit when you must have made about 20-40% appreciaiton if it ever gets them before retracement.
I bought wema at 10 naira and sold at 14.10 naira. That is ok by me and i will converting some of the cash to Bank PHB, Fidelity, Costain and of course Ovia's Zenith.

Have some union Bank which will be for the keeps since there is a rumuor of a foreign partner. Imagine the impact on the Industry and its shareholders.
Will be gambling some money on UNIC Insurance tomorrow and hoping to exit by next Friday

easimoni:

My interpretation is that the value of the shares I still own will remain the same but the PE/EPS will still get diluted once the cash injection for shares is effected. It's still the same effects as a PO but without the proliferation of shares/shareholders which causes excessive price volatility. I'll need more details to see if it's really a good deal or not.

The value(if i assume you mean the price) of the shares you own will not be the same. The way i put it is  your shares are reduced  by whatever ratio they desire but the value or is it the price of your shares will go up in the same proportion effectively the value of your holdings(share price x units you hold) will remain as it was before which is why they need to go on TS.

Since the the number of shares outstanding is reduced they can re-issue the cancelled shares so to speak  in return for the cash injection so we would be where we started before the TS and depending on the prevailing sentiments after TS and share reconstruction would we start noticing the impact on the share price.

If the yet-to-be named foreign investor is a heavy-weight then we can assume what is happening to UBN share price now will also happen to WEMA share price

Those in the fray to take up 30% of UBN equity are the creme-de-la-creme of the financials and i'm quite sure any bank in nigeria would dearly love to be associated with them we are talking Merryl Lynch and HSBC here_{you dont get bigger than that!}

i have issued BUY order for CRUSADER, LAWUNION and UNIC in that order_{easimoni is that right?}

@roughcut,

swap UNIC position with Law Union, thats according to me sha oo.

But those three are definitely good to go.

Wow. 3 pages and still reading. Na wa. So much can happen in one day.

I wouldn't swap Lawunion for UNIC. I think the numbers favour Lawunion.

RoughCut:

i have issued BUY order for CRUSADER, LAWUNION and UNIC in that order_{easimoni is that right?}

yodiyokun:

@roughcut,

swap UNIC position with Law Union, thats according to me sha oo.

But those three are definitely good to go.

Why swap Unic for Law Union?
Is it fundamentally stronger, I doubt it. Unic even makes it into IBTC Stock-Select

I think we have to establish one behaviour now after seeing Wema and UBN.

After delayed end of year results that are not too good, wait in case of a mouth watering interim result. I predicted 2 days ago after seeing the move in UBN that it must be an interim result known to the insiders and low and behold.

yodiyokun:

@roughcut,

swap UNIC position with Law Union, thats according to me sha oo.

But those three are definitely good to go.

I'm buying all three!

pumping777
u are right, the numbers do favor lawunion
better buy than unic at the moment

I really missed today. In between flights so I'm just playing catch up at the airport. The market is so "blue" today!!! Insurance of course 100% but all other sectors too.

Well, WEMA is on Technical suspension so except you are in it for the long time, expect a long wait.

Now, if you are not a technical trader, be careful with the 'bull' run. Some people will 'manipulate' the market to get some gains beased on the fall in the insurance stocks. So be at alert. Don't follow the herd mentality.

The release of the funds should lead to more funds being available in the market not necessarily to buy insurance stocks. It may fuel appreciation in other sectors of the markets.

Union Bank, well, I will be careful. This is an interim result which may not reflect what the audited result will be. Same for fidelity that released its Q1 result just after extending the closure of the offer. Why extend the closure of the offer? Is it out of fear that it may not be as successful as expected? Was the result released to stimulate interest?

As per Nigerian German, bought at 12.00 not too ,long ago. If it reaches 25.00 will sell ONLY to Shigidi!!!! He was looking like lucozade when everyone was buying. Seriously, other options are out there.

I love UNIC and it will be on my top list of insurance companies. Crusader looks good but I am wary of their new offer that they are planning. NEM, don't have the full figures but I am impressed by the turn around.

No panic buying now. Stick to your strategy. Don't go on a buying spree or else you will have your fingers burnt.

On Globe Re, Globe Re merged with Niggerian Re with Nigerian Re supposedly the surviving entity. However, there is a lot of power play involved. Formerd MD of Globe Re that begged Jimoh Ibrahim to acquire Globe Re via Nigeria Re is now the NAICOM commissioner!!!!!! So expect more court cases. Jimoh will not go down without a fight and that will affect the insurance sector