Fidelity bank closed still lower today at N11.17. This is an improvement on yesterday’s full loss, and an indication that the stock may be ready for a rebound. The only thing that will give it a big push is a good result which I know they will be packaging to deliver Q2.

This stock is good for a short time play in the coming weeks as it is selling on the floors now. Another thing that may work in its favor will be a bull run in the next week.

MyPeace:

@ kpineo

oceanic is 22,222,793,603

My Peace
Pls what those figures above? What do they represent regarding Oceanic Bank

The out of stock syndrome in some stocks is very visible now, especially in some stocks that are in technical suspension. Zenith, PHB, AIICO, etc are all unavailable for some time since I have been waiting to buy.

@ Mr. risky, they are the total number of shares outstanding for oceanic bank. This means that anytime you want to buy the stock, it is from that quantity they will sell to you. Also if they make some profit, it will be divided by that number to get the per share earnings. Kajikwo?

Re: Chams PP.

News hot off the press is that UBA GM has raised the min # of units to 1M. Now you need N2.5M instead of 100k to enjoy. Tis in response to the overwhelming demand.

Anyone getting similar feelers?

What has been pushing down the price of intenergy ins. ? since they reconstructed, the price has been heading south, hope some ppl no think say na big rise for them to reap profits?

Somebody should tell them that every unit they sell is now three units.

@ Easimoni, you mean 2.5 milla for the minimum? Them no get poor person for their village? Abeg I don tire to pursue them sef.

I believe the sweetness of most investment programs is when many ppl can participate, tends to strengthen capitalism, and foster a level playing field. As it is only the very rich can afford to tie that type of amount for long. Poor man don suffer!

easimoni:

Re: Chams PP.

News hot off the press is that UBA GM has raised the min # of units to 1M. Now you need N2.5M instead of 100k to enjoy. Tis in response to the overwhelming demand.

Anyone getting similar feelers?

Last I heard was that UBA gave 5bn cheque to CHAMS to cover the offers.

Well I submitted some forms to UBA with less than 1m units.

Submitted to SKYE BANK today forms with less than 100,000 units.

omo i don miss una ooooo.
good to see we are all pumping up .
@ easimoni, pumping ,yodi, im confused when it comes to projections.
for example UBA hit 9.1bn so thats 36bn full year abi.but at the same time it recorded growth of 104% over last year, if they hit last year PAT of 21bn, doesnt that mean it should hit 42 bn this year, so its eps is 4. and a forward pe of 12. you see what i mean if you apply this to PHB, they surpass their projections by far. abeg make una contribute.

oceanic is looking madly juicy now. iforward pe of 16.

Please, can any one explain to me how AP can gain up to N28.01 today according to cashcraft? Initially I say a gain of 12.86 on the NSE website, but on getting to cashcraft the price shot up to N28.01 gain. Or is there another abracadabra cooking somewhere?

invisible!:

@ Easimoni, you mean 2.5 milla for the minimum? Them no get poor person for their village? Abeg I don tire to pursue them sef.

I believe the sweetness of most investment programs is when many people can participate, tends to strengthen capitalism, and foster a level playing field. As it is only the very rich can afford to tie that type of amount for long. Poor man don suffer!

Abeg, the CHAMS people don make money.

They did a PP in 2005 or so. Minimum was 1m units at N6.00 or so. Now they have done a stock split and followed it up with a 4 for 1 bonus. The N6m is now N20m.

Was told that they will be listed at N5.00 soon. There will be no oversubscription according to SKYEBANK. Once the level allotted to them is reached, they will stop collecting forms.

wanaj0:

Abeg, the CHAMS people don make money.

They did a PP in 2005 or so. Minimum was 1m units at N6.00 or so. Now they have done a stock split and followed it up with a 4 for 1 bonus. The N6m is now N20m.

Was told that they will be listed at N5.00 soon. There will be no oversubscription according to SKYEBANK. Once the level allotted to them is reached, they will stop collecting forms.

I think PP should not normally not be over-subscribed which is why they would not take any more applications once they have hit their quota .The issuing houses have already guaranted to buy the shares in the unlikely event that no one buys but of course we know that is not possible so it is really not in their interest to allow over-subscription and star returning money.

CHAMS only need to float 25% of their share capital to qualify for listing on the NSE after which they will follow up with IPO and then they can absorb some over-subscription

@ All. Read this:

We’ll take control of NITEL’s destiny— CEO

By Aaron Ukodie, Deputy Business Editor

The management and staff of NITEL whose operating license is under threat of withdrawal by the Nigerian Communications Commission (NCC), have vowed to take control of the destiny of the ailing company.

They appear to be resolved to move ahead in efforts to wake up the dormant capacity and capability of the national carrier irrespective of what owners, Transcorp and the Federal Government do.


Transcorp, which owns 51 per cent and the Bureau for Public Enterprise (BPE), which holds 49 per cent on behalf of the Federal Government are about to shed their shares to accommodate a technical partner that may bring in the needed fund and expertise to revive NITEL.


NCC said on Tuesday that it will withdraw the operating license of NITEL if it fails within six months to revive its network to an appreciable level where it can now play effectively its role of a backbone to other last mile service providers.


In what appears to be a reaction to the NCC threat, the company’s Managing Director and Chief Executive Officer Abubakar Nahuche said that the Company must take control of its destiny to enable it meet the challenges of the telecommunications industry.


Nahuche who gave this charge in his New Year’s message to staff of the company, said NITEL is potentially wealthy and it has a lot of opportunities waiting to be recognised, appreciated, tapped and converted to wealth.


He identified the staff of the company as the first of such potentials whom he said are capable of lifting the "Company from its present state of hardship." He said it is a fact that other operators in the telecommunications industry poach staff from "NITEL’s pool of experienced staff".


The Chief Executive Officer said with the stabilisation of the national trunks and reconciliation of all interconnect issues in 2007, the Company shall in early 2008 concentrate efforts in mobilizing revenue from the top 20 per cent of the Company’s customers.


He said the billing systems are being overhauled to ensure timely and accurate bills, which he noted are fundamental to improved revenue collection. A basic fact in this process Engr. Nahuche said is that greater attention shall be placed on the prime status of customers as the reason for doing business.


Reviewing the activities of the company in the past year, Nahuche said the company had increased its capacity on the international undersea high capacity cable system usually referred to as SAT-3.


Also, during the past year he said, contracts were awarded for new retail billing servers to be installed in Abuja, Lagos, Enugu, Ibadan, Kaduna and Bauchi. He said work on the billing servers will be completed by the end of the first quarter of 2008.


Nahuche listed other major milestones in the past year to include the stabilisation of the national trunks adding that the feats were acknowledged and appreciated by even other operators in the industry.


He also identified the restored trunks at the Lagos-Ijebu Ode-Benin-Enugu-Abuja route, Abuja-Kaduna-Kano route and the Abuja-Makurdi-Enugu-Port Harcourt route.

@shigidi

Welcome back. For where you bin go hide?

Projecting PAT. I think it all depends on personal preference. I use both and I tend to stick with the lower figure so far it is reasonable. Based on this, the forward PE I have for Oceanic is around 18.

RoughCut:

I think PP should not normally not be over-subscribed which is why they would not take any more applications once they have hit their quota .The issuing houses have already guaranted to buy the shares in the unlikely event that no one buys but of course we know that is not possible so it is really not in their interest to allow over-subscription and star returning money.

CHAMS only need to float 25% of their share capital to qualify for listing on the NSE after which they will follow up with IPO and then they can absorb some over-subscription

In NIGERIA, anything can happen. Fidson PP I learnt was oversubscribed and money will be returned!!!!

Not sure the meaning of the bolded portion.

Learnt that the MTN placement is on. Hopefully, one of the brokers will send the offer document. Was however told that listing on NSE will not happen until about 3years. Moreover, there may be no dividend payment. But at listing, expect huge profit. So that one na real LONG term by the definition here.

wanaj0:

In NIGERIA, anything can happen. Fidson PP I learnt was oversubscribed and money will be returned!!!!

Not sure the meaning of the bolded portion.

Learnt that the MTN placement is on. Hopefully, one of the brokers will send the offer document. Was however told that listing on NSE will not happen until about 3years. Moreover, there may be no dividend payment. But at listing, expect huge profit. So that one na real LONG term by the definition here.

It means 25% of  CHAMS must be held publicly! So hopefully after the PP they will float more than 25% for the IPO so as not to create illiquidity and 'money return' syndrome. Dangote is a prime example

Regarding Oceanic's outstanding shares, Meristem came out with 25B shares. I can't figure it out. Any debt conversion or preferential share listing for Oceanic?

-----------
OCEANIC BANK INTERNATIONAL PLC -- New listing
A total of 10,579,362,588 Ordinary shares of the Bank were listed today at N16.50k following the
conclusion of the Bank's Public Offer for Subscription and supplementary Shares alloted. This brings the
Bank's total shares outstanding to 25,131,878,869.25 as of date.
------

wanaj0:

In NIGERIA, anything can happen. Fidson PP I learnt was oversubscribed and money will be returned!!!!

Not sure the meaning of the bolded portion.

Learnt that the MTN placement is on. Hopefully, one of the brokers will send the offer document. Was however told that listing on NSE will not happen until about 3years. Moreover, there may be no dividend payment. But at listing, expect huge profit. So that one na real LONG term by the definition here.

BGL is accepting minimum of $200K for it's investment vehicle for MTN PP. Make I make way for the big boyz and galz.

pumping777:

BGL is accepting minimum of $200K for it's investment vehicle for MTN PP. Make I make way for the big boyz and girls.

That is all my portfolio gone then
And then wait for 3 years before being listed doesnt make an iota of sense

pumping777:

BGL is accepting minimum of $200K for it's investment vehicle for MTN PP. Make I make way for the big boyz and girls.

Thats the one, i am remortgaging str8 away. On the phone to d estate agents pronto. Abeg dem no see me at all

RoughCut:

It means 25% of  CHAMS must be held publicly! So hopefully after the PP they will float more than 25% for the IPO so as not to create illiquidity and 'money return' syndrome. Dangote is a prime example

That is still not clear. To create liquidity, there is minimum number of shareholders that you can have prior to listing. That's the reason for the PP. Once you fulfill that you are game for listing. Also, no man can have more than 70% of the company.

With the PP they don't need to do an IPO except they wanted to. Airservices is listed and there is no PO. Dangote is doing IPO (offer for sale) to increase the shareholder base thereby diluting his holdings. DSR is listed and no PO.

@ Zenith Securities Users


Can you log-in to your account on-line? Their on-line platform is seriously mal-functioning. Make my money no go disappear. I think i'll be looking for a new broker soon.

pumping777:

BGL is accepting minimum of $200K for it's investment vehicle for MTN PP. Make I make way for the big boyz and girls.

Afrinvest was $100k but may reduce further based on my discussion with them yesterday (went to their office for the first time).

Part of the money meant for this already gone for CHAMS. Will see the possibility of raising circa N10m for this. Action will depend on how juicy the offer is. forward PE might even be less than 1 in 3 years time.

For those who may like to participate but do not have that money, team up together as friends, form a company and contribute based on your shareholding. Basically you create a Special Purpose Vehichle (SPV) for the investment. People may start to put heads together now on who and who they will partner for this. Of course it must be people of like minds who trust each other.

wanaj0:

That is still not clear. To create liquidity, there is minimum number of shareholders that you can have prior to listing. That's the reason for the PP. Once you fulfill that you are game for listing. Also, no man can have more than 70% of the company.

With the PP they don't need to do an IPO except they wanted to. Airservices is listed and there is no PO. Dangote is doing IPO (offer for sale) to increase the shareholder base thereby diluting his holdings. DSR is listed and no PO.

For any company to be listed on the NSE 25% of the stock must be held by private or public individuals. DSR and DFM are owned by one and only one individual and that is the man himself through Dangote Industries Ltd(DIL) and for the companies to be listed the shares must be floated to private individuals or  public individuals through PP or IPO or PO.

You need at least at least two shareholders for a company to become limited innit? and if between those two individuals they control at least 25% equity it can be floated although this is an extreme scenario but just to illustrate my point!

RoughCut:

That is all my portfolio gone then
And then wait for 3 years before being listed doesnt make an iota of sense

That's the problem with PP. You are locked in. But be rest assured for good companies the result na helele. Look at Chams; N6m was the entry level in 2005 or so for 1m units. With a stock split and 4 for 1, you now have 8m units. If listed @ 5.00 as being speculated and you exit at that point that is N40m in 3 years. That's almost 600% returns. Assumming the price got to N6.00 before exiting, thats N48m (700%). So it may be worth it.

An SPV can help you to participate while reducing your exposure.

Has anyone seen the numbers for the MTN offer? I'd love to see the projections. IBTC aked a friend of mine for N2.5M to join a SPV for the MTN PP. Dunno why other coys are asking for so much. Lead contacted me yesterdday and I indicated interest. Will see how much they ask for. Not leaning towards it though!

Momentum traders; Ikeja hotels dropped 10% this week and has a 9-day RSI of 19 and forward PE of 12. And yes, I own a bunch of shares.  

wanaj0:

Afrinvest was $100k but may reduce further based on my discussion with them yesterday (went to their office for the first time).

Part of the money meant for this already gone for CHAMS. Will see the possibility of raising circa N10m for this. Action will depend on how juicy the offer is. forward PE might even be less than 1 in 3 years time.

For those who may like to participate but do not have that money, team up together as friends, form a company and contribute based on your shareholding. Basically you create a Special Purpose Vehichle (SPV) for the investment. People may start to put heads together now on who and who they will partner for this. Of course it must be people of like minds who trust each other.

$100k will probably not be too injurious but for me to tie that down for three years nah? I want to see how the share price of the company i'm invested in is doing on the NSE watch the gyrations and be able to offload and unload  anytime  i want that is the buzz i get from investing!

RoughCut:

For any company to be listed on the NSE 25% of the stock must be held by private or public individuals. DSR and DFM are owned by one and only one individual and that is the man himself through Dangote Industries Ltd(DIL) and for the companies to be listed the shares must be floated to private individuals or  public individuals through PP or IPO or PO.

You need at least at least two shareholders for a company to become limited innit? and if between those two individuals they control at least 25% equity it can be floated although this is an extreme scenario but just to illustrate my point!

To be a PUBLIC company you need I think 50 or 70 shareholders with no one having anything more than 70%. That I think is the requirement for listing. The listing requirement use to be on teh SEC site.

Once CHAMS fulfill the number of shareholder bit, they are qualified for listing. Doing a PO after is because they wanted to though most companies get listed so as to raise funds hence the IPO alsmot after.

Dangote did an offer for sale to fulfill the 70% and the number of shareholders rule. For CHAMS, they've already fulfilled the 70% rule. It is only the number of shareholders that they need to sort out.

RoughCut:

$100k will probably not be too injurious but for me to tie that down for three years nah? I want to see how the share price of the company i'm invested in is doing on the NSE watch the gyrations and be able to offload and unload anytime i want that is the buzz i get from investing!

That's what I was saying yesterday about personality and investment strategy. Some people will not be satisfied without the ups and downs that they see in the market. In which case, even if a stock offers 1000% returns, they will not be interested. That's why strategy must fit the personality.

easimoni:

Has anyone seen the numbers for the MTN offer? I'd love to see the projections. IBTC aked a friend of mine for N2.5M to join a SPV for the MTN PP. Dunno why other coys are asking for so much. Lead contacted me yesterdday and I indicated interest. Will see how much they ask for. Not leaning towards it though!

Momentum traders; Ikeja hotels dropped 10% this week and has a 9-day RSI of 19 and forward PE of 12. And yes, I own a bunch of shares.

Yet to see it but I think the placement is over. IBTC invited the issuing houses/brokers. Minimum was like $5m. They cough out the cash and are now trying to set up SPV's to recover/distribute the investment. But for it to be manageable, they do not want it to be an all comers affair.

Afrinvest is still finalising the terms of the SPV. While MTN has a good name and are in a favourable sector, until I see the numbers (historical andforecast), na sidon look I dey.

wanaj0:

To be a PUBLIC company you need I think 50 or 70 shareholders with no one having anything more than 70%. That I think is the requirement for listing. The listing requirement use to be on the SEC site.

Once CHAMS fulfill the number of shareholder bit, they are qualified for listing. Doing a PO after is because they wanted to though most companies get listed so as to raise funds hence the IPO alsmot after.

Dangote did an offer for sale to fulfill the 70% and the number of shareholders rule. For CHAMS, they've already fulfilled the 70% rule. It is only the number of shareholders that they need to sort out.

You are right about the 70% bit for a public company i said in my post you only need 2 shareholders to form a limited company.For listing on the NSE only 25% of the stock need to be floated! Dangote floated 25% of his personal holding in DFM and that is what all of us were scrambling for and at least you know the result.

The man still owns 75% of the company  and listing on NSE is imminent its all in the prospectus!

wanaj0:

Afrinvest was $100k but may reduce further based on my discussion with them yesterday (went to their office for the first time).

Is the discussion to reduce the entry  point for you in particular or general consideration?

I am interested but will not want to commit more than $50K