So they are now putting a cap on shareholder's funds. Isnt that a prerogative of the Bank.

Sometimes you think you've figured it out. You know how the system works. But our system is proper abracadabra. The more you look the less you see. But I am loving it.

Pennywise:

So they are now putting a cap on shareholder's funds. Isnt that a prerogative of the Bank.

It is a pergogative of the SEC and it is designed to protect investors. If a company comes to the market claiming to need only N100billion and raises N1 trillion should the company be allowed to keep the excess funds? Remember that the company's plans and projections as stated in the prospectus only accounted for N100 billion. Furthermore, if the company really did a great job forecasting, then it should only ask for how much it needs (in this case N100 billion), any amount above this was not budgted for.

It is a pergogative of the SEC and it is designed to protect investors. If a company comes to the market claiming to need only N100billion and raises N1 trillion should the company be allowed to keep the excess funds? Remember that the company's plans and projections as stated in the prospectus only accounted for N100 billion. Furthermore, if the company really did a great job forecasting, then it should only ask for how much it needs (in this case N100 billion), any amount above this was not budgted for.

Absolutely. I agree with you. But the company (banks in this case) can tell SEC that despite these projections we have, on account of recent growth and other favorable market indices etc etc we will be able to accommodate all or part of this over subscription as Intercontinental and more recently Oceanic bank did. So it comes down to whether the bank is willing and has sufficient capacity and therefore able to persuade SEC or is not willing.

Pennywise:

Absolutely. I agree with you. But the company (banks in this case) can tell SEC that despite these projections we have, on account of recent growth and other favorable market dynamics etc etc we will be able to accommodate all or part of this over subscription as Intercontinental and more recently Oceanic bank did. So it comes down to whether the bank is willing and has sufficient capacity and therefore able to persuade SEC or is not willing.

If they cannot even do a 3-month forecast, then why do you believe all the financial projections in the prospectus? I am sure it takes less than 3 months or so from the date the offer closes to know how much was raised. So in the space of 3-months, things have suddenly changed dramatically? There is actually a law that prevents companies from absorbing more than 25% oversubscription, the SEC was just not enforcing it in the past.

Hi guys
SEASONS GREETINGS
Pls can any1 give me info on AIICO IPO, is it a good buy/
Thanks

Has everyone gone on vacation here? Maybe to enjoy their NSE loot Please remember to post your secrets of the trade (tricks of the trade) for us to digest, I know you ppl have developed new tricks for 2008

lynxnoon:

Hi guys
SEASONS GREETINGS
Please can anyone give me info on AIICO IPO, is it a good buy/
Thanks

AIICO is a good buy based on the pricing and the growth prospects in the insurance sector. The last 5 years financials does not provide any extra incentive to buy, however the company will do well going forward as it will leverage on the local content policy that keeps substantial risk retention in the country while it will be able to expand its risk capacity with the recently signed contract. The P/E @ offer price is 10.48x.

invisible!:

Has everyone gone on vacation here? Maybe to enjoy their NSE loot Please remember to post your secrets of the trade (tricks of the trade) for us to digest, I know you people have developed new tricks for 2008

i second your opinion
seasons greetings to all naira people in da house.

Oceanic released their end-of-year result declaring N1.02 dividend per share, pls will investors that participated in their last public offer benefit?

Oceanic released their end-of-year result declaring N1.02 dividend per share, please will investors that participated in their last public offer benefit?

This is highly unlikely. Reason is that their outstanding shares is close to 18 billion post offer and they made 17 billion so the money won't go round at N1.02. You will hardly see any company paying out every kobo of it's profit as dividend.

About the oceanic issue and dividend, does anyone who participated in the po tell us if oceanic promised to pay anyone any dividend in its prospectus for the po?
If they promised to pay the po buyers, then they are duty bound to fulfil their promise, on the other hand if they didnt promise a dividend this financial yr, then expect nothing from them.
This is why i always tell folks to read and reread the prospectus before jumping into the party.

Hi Friends!
Merry Christmas and Happy New Year!
I am interested in stock market.
Can you advise me where to invest for the short term?
I am looking to hear from you,

Jimi90

NIG-GERMAN at 24.99, I should be happy but I know its just vol pushing the price, it'll be back to N23 thursday. Its always on the high end on mondays
CRUSADER has broken the N6 mark!! its at N6.21, even me that picked up 3weeks ago at the high price of N5.01 has gained 18% after fees

@person searching for woman, try a diff hook, I'm female and that one wey u write sef even if u pay, she go still run, must be a joke.

@people looking for opinions on AIICO, and stocks for 2008, you are better off reading posts from the last mth, everyone is gone for the holidays, enjoy your Christmas, and may the special gift of Christ be a continuous source of blessings for you and your families.

@Hisp99

If they cannot even do a 3-month forecast, then why do you believe all the financial projections in the prospectus? I am sure it takes less than 3 months or so from the date the offer closes to know how much was raised. So in the space of 3-months, things have suddenly changed dramatically?

This statement is at the root of an issue that drew my attention to nairaland. Which is how much information coming from the NSE and its companies is credible (Forums / Business / Re: Be Careful About Buying These Banks Stocks!).

You cant help the feeling you get sometimes that you are living in a fool's paradise. A determined CEO will present to regulators what they want to hear so he can have his way. It is hard to blame them because going to the market for yearly PO takes something away from corporate image and credibility.

@Invisible

invisible!:

Has everyone gone on vacation here? Maybe to enjoy their NSE loot Please remember to post your secrets of the trade (tricks of the trade) for us to digest, I know you people have developed new tricks for 2008

Your knowledgeable posts have made you very visible on this thread. Perhaps you want to consider a name change. It may be disappointing that nobody is talking about specific stocks. Unfortunately all the gurus appear to have gone on leave. Many are even complaining of losing advantage upon disclosure which makes things very different for seekers like us. But there are other ways you can benefit from discourse like this. I give you example this statement by Hispy99 from far away US

There is actually a law that prevents companies from absorbing more than 25% oversubscription, the SEC was just not enforcing it in the past.

. I have on account of this chosen or at least considerd to backpedal on what I planned to be a large PO purchase (its ended but I understand brokers have 2 weeks to cross the ts). Respect.

bussyankee:

Oceanic released their end-of-year result declaring N1.02 dividend per share, please will investors that participated in their last public offer benefit?

oceanic made it clear that the subscribers to the new PO will only qualify for dividends in the business year ended 30 september 2007 if the proceeds from the offer is received by them at least 3 months before that date. they factored in the regulatory bottlenecks and made that statement to encourage investors.

so, i dont think the new PO will qualify for dividends

FCMB has added a .79kobo to its price to make it to 17.04, value hunter has seen the golden opportunity and are swooping in for an xmas special on the bank, me I wish it still comes down so I can make my own move before it starts flying.

@all

what do you think about entering AGLeventis at current price?

@ All

Stock position attached.
Sorry for the delay, guess its the holiday spirit

@all
merry christmas y'll. Its been great fun learning from each and everyone of you this year, we go dey catch next year

Someone help me with this , I bought Oceanic stocks by August this year and i would like to know if i qualify for the current dividends of 1.02 Naira .

egoldman:

Someone help me with this , I bought Oceanic stocks by August this year and i would like to know if i qualify for the current dividends of 1.02 Naira .

I presume you bought from the floor and in this case, yes you qualify for the Dividend.

@ all, thanks guys, i've really learnt a lot from this thread, started out in oct but now i can do my own analysis and stock picking, i've made some mistakes though and made some good money too, i keep smiling any time i log into my briefcase, the percentages and e-cash keeps rising, its too good to be true, now i even almost regret building some houses early this year, i wish i had invested the huge cash in the market, but like my sister always says, liquid cash is no cash, so don't forget to take something out of the market from time to time to invest in real estates, then u will appreciate the money u are making here, today i just took up position on some great stocks and next year i am investing big time, thanks once again

@Barge
Thanks alot for d info
Wish u all d best dis season
HASTA LUEGO
MUCHAS GRACIAS

Merry Xmas

bigjay01:

I presume you bought from the floor and in this case, yes you qualify for the Dividend.

yeah i bought from the floor , and thanks for the answer .

bigjay01:

@all

what do you think about entering AGLeventis at current price?

To Bigjay01,
As per your agleventis query I have only one thing to say BUY!!!. Presently 9 months of N411m exceeds full year 06 of N394m. They have been consistent with increasing dividends over the past five years and the wise men of the rumor mill has it that a bounus might be in the offing this year (no of outstanding shares is 1.8b) furthermore cummings, the 2nd largest generator engine manufacturer has acquired a substantial share in the company and this is why of late the share has been hard to mop up so if you are interested in buying then you should start now. Mecerdes-Benz has also approved the upgrade of their service centre to a higher standard (bill to be footed by Benz so won't affect thier earnings) Fair price for the stock is N9.6 honestly. I probably shouldn't be saying this on this forum cos i have been trying to get some while watching the RSI and price to fall but I think that it will never go below N4.2 again so I'll just start buying. I hope really all the deep pocket fellas are truly on vacation so they won't have to read this and make it inaccesiblile to average joes like me!!!

Merry Christmas everybody

wishing everybody in the house a happy xmas and may god grant us our heart desires in the new year

3RD QTR NOV 2007
INTERCONTINETAL BANK PLC. 3RD QUARTER RESULT ENDED 30/11/07.

TURNOVER 07 N99.6B 06 N59.1B

PBT 07 N22.8B 06 N12.8B

TAXATION 07 (N4.8B) 06 (N2.7B)

PAT 07 N18.0B 06 10.12B
i think this result is very good, lets know what the gurus think

http://www.nsepro.com/nigeria%20stock%20market/financial%20news.asp?NewsId=97

Princesege:

I have been using Cashcraft since 2001. They may not be 100% efficient but their on line facility is one of the best. The service you receive depends on your account officer. I will suggest you call their head office and demand for a good account officer who knows what is meant by prompt execution of orders, I bet you will a good experience with cashcraft.
What I did was to get Kunle in account department so that anytime I transfer money from GTB , my stock account is credited immediately or at worst the second day. This was shortlived just last week when GTB removed 3rd party transfer from their online banking platform, very painful and disappointing I must confess. Also I follow up with email and I have been getting a good response. I remember when I bought NEM in November, it took just a day to carry out my order. So Londoncool, it all depends on your account officer and the market of the day at NSE. If you want to give a shot, go ahead and try it yourself.

@Princesege,

How do you fund your Stock a/c with Cashcarft (in the absence of your GTb online transfer facility ?)

I also use cashcraft, their service is not the fastest but every thing is done online, i;ve never even been to their office b4, issue buy or sell instructions by sending mail or sms, but u have to be careful with them, issue buy and sell instructions with price limits and also insist on getting trade alert confirmation for any transaction made, lots of valuable info on their website to help u in ur research and a good online portfolio for u