Maybe in like 4 to 6 months

Quote from Tmoni
@frankiri,

a bad habbit i have is to attach setiment to my investment,
i categorically do not like UBA and Intercontinental bank so i always look the other way,
i hv to stop that and always invest for the money,

might hv a look at it if i get some money,

A problem recognised is a problem half solved.
Detach yourself from your stocks. They dont know you own them. I am a flirt as long as stocks are concerned. Once the fundamentals are right and my objectives have not changed I stay with that stock. Woe betide it if the fundamentals change

frankiriri:

Quote from Tmoni
@frankiri,

a bad habbit i have is to attach setiment to my investment,
i categorically do not like UBA and Intercontinental bank so i always look the other way,
i hv to stop that and always invest for the money,

might hv a look at it if i get some money,

A problem recognised is a problem half solved.
Detach yourself from your stocks. They don't know you own them. I am a flirt as long as stocks are concerned. Once the fundamentals are right and my objectives have not changed I stay with that stock. Woe betide it if the fundamentals change

@frankiri
And woe betide you if you don't find out early enough.
@all
Have you heard anything about skye bank real estate fund?

Whenever I find out I am out

@All

STOCKS INFO:
First Bank (100 billion) hybrid offer is currently in the market to raise funds through an equity public offering.

• The Federal Mortgage Bank of Nigeria is working out modalities to raise a N100 billion mortgage-backed bond securitization programme from the capital market. The funds will facilitate the operations of secondary mortgage transactions in the capital market by refinancing the mortgage loan originators while facilitating the purchase of houses in Abuja. The mortgage-backed security will be in tranches. It is yet to be determined whether it will be a pass-through (more likely) or a collaterized mortgage obligation (CMO) in which a credible credit rating system will have to be in play so that the loans can be placed in tranches based on credit quality.

• About N100 billion was raised in the primary market segment of the capital market in the first quarter of 2007 up from N72.17 billion in the same period in 2006. This is largely attributable to insurance firms’ recapitalization, foreign hedge funds financial investments, corporate expansions and foreign direct investment.

• Eterna Oil is soon to embark on a rights issue: 150 million ordinary shares at N9.95 per share which translates to receipts of N1.4 billion if the rights are fully taken up.

• Diamond Bank, Access Bank, Fidelity Bank, GT Bank, Obajana Cement, Dangote Flour, NAHCO, CCNN, Design Union Developing Limited (a key player in the real estate sector)) and Costain West Africa Plc are expected to come to the market through initial public offers or public offers.

• The 4th FGN Bond Series 5 was issued on May 25th, 2007 at a coupon rate of 9.23% with a five-year tenor. The bond was 110% oversubscribed. The amount on issue was N50 billion and the amount put forward was N105 billion. Excess liquidity rears its ugly head again and the coupon rate is nothing to write home about.

• A total of 450,000,000 shares were added to the shares outstanding of Nigeria Aviation Handling Co. Plc following the stock split of 3 new shares for every 2 originally held.

• A total of 2,568,898 shares were added to the shares outstanding of Ecobank Transnational Incorporated being ETI Staff Scheme Shares.

• A total of 122,200,710 shares were added to the shares outstanding of Ecobank Transnational Incorporated following the stock split of 1 new share for every 10 originally held.

• A total of 158,986,549 shares were added to the shares outstanding of The Okomu Oil Palm Plc following the stock split of 1 new share for every 2 originally held.

• A total of 2,340,789,994 shares were added to the shares outstanding of Crusader Insurance Plc following the conclusion of the public offer of 1,553,216,304 shares and rights offering of 787,573,690 shares.

• A total of 2,000,000,000 shares were added to the shares outstanding in the name of Guaranty Trust Bank Plc following the stock split of 1 new share for every 4 originally held.

• A total of 10,372,744,316 shares of Continental Reinsurance have been listed on the floor of The Nigerian Stock Exchange at N1.26 per share.

• The Bank of Industry and International Energy Insurance (IEI) are currently doing a private placement.

@ Fran,

Kindly what can you say about this update on stocks info on this thread, eg Okomu oil and Ecobank trans

I salute everyone who has contributed so far.
Now to the gurus in the house, with an idle 500k, what stocks could one buy that would at least double in value in a yr or less from now the way zenith or DSR did?
Answer need ASAP. Thanks a bunch

@ Senetee,
I like Oando but I'm not in to money doubling Just buy the stock with a lot of upside. I guarantee there'll end up being a better stock but you'll make money

Hi all,
Does anyone has any info on cornerstone insurance end of year (Dec 2006) result? Besides, is it a good buy at the current price of 4.02?
I have also noticed that the stock has been "stagnant" at 4.02 (both high & low price of the day) for 2 consecutive days now (i.e Friday last week and today) with changes in the volumes traded. Is the stock on technical suspension?
Any explanation will be appreciated.

I also observed that cornerstone share price has not made any change since Friday , well lets from next few days , if they are placed under tech suspension , the news would be out soon .

meanwhile i have been researching into ABC TRANSPORT and what i have found so far is not looking too bad for the short term investor, do you guys have something to say about this stock ?

@ Cheexy - What's the minimum investment for Trustyields securities? I'm also in the market for a broker.

How do you rate their service?

Thanks in advance for your response.

@Biglarryboy, thanks for those info above.!

egoldman:

I also observed that cornerstone share price has not made any change since Friday , well lets from next few days , if they are placed under tech suspension , the news would be out soon .

meanwhile i have been researching into ABC TRANSPORT and what i have found so far is not looking too bad for the short term investor, do you guys have something to say about this stock ?

I think ABC wont move up fast soon.I've been foolowing them because i had a huaunch to buy it at their IPO but i ignored my haunch. It moved to N4.50 before dropping and rising to N4.00 again. but i dont think it will be good for shor term investment ooo. Dont see it reaching the N8.00 mark in the next 3 months.
just my opinion !!

Hey Everyone,

I'm quite pleased with the warmness in this thread and the promptness cum care attached to the way questions are answered. Thumbs up!

U know what, I've been holding on to Niger Insurance shares for a couple of years now and i really need to sell em sometime in the last quarter of this year. Does anyone see a huge move with this stock? and do u think the effects of the consolidation in the Insurance sector has waned off on this stock?

Please fill me in with what u think.

I badly need a heads up!

Ciao!

Good Afternoon Omoba3. Can you e-mail me at jccn@mchsi.com. I have some questions for you about your XeChem post. I would greatly appreciate it.

Thank You
Jim

@omoba
I will call my stock officer to confirm but last time i checked, you could open an account for free after which you start to invest. They are good, even though they don't give you advice (i don't need it anyway) they sell your shares when you want them to be sold and buy shares when you want them to be bought (as long as the stock is available) You still have to go to their office to make enquiries. Please find the address in my earlier post. I actually used to complain about my officer's tone of voice until i read other people's complaints about their own stockbrokers. I later got to find out that she was under some stress due to the oceanic bank public offer. Just go there and if you don't like them, you are free to walk out. Afterall, it is a free world.

mishoo:

@Biglarryboy, thanks for those info above.!I think ABC wont move up fast soon.I've been foolowing them because i had a huaunch to buy it at their IPO but i ignored my haunch. It moved to N4.50 before dropping and rising to N4.00 again. but i don't think it will be good for shor term investment ooo. Dont see it reaching the N8.00 mark in the next 3 months.
just my opinion !!

could you please give more details why you think it wont go up sooner , also anyone could contribute to this , i heard something like this about c & i leasing and still went ahead to buy it , now am smilling , not saying same must happen ABC , but i would be glad to know why you think they wont do well in say 1 to 3 months .

thanks

kauskey:

Hi all,
Does anyone has any info on cornerstone insurance end of year (Dec 2006) result? Besides, is it a good buy at the current price of 4.02?
I have also noticed that the stock has been "stagnant" at 4.02 (both high & low price of the day) for 2 consecutive days now (i.e Friday last week and today) with changes in the volumes traded. Is the stock on technical suspension?
Any explanation will be appreciated.

A few weeks ago, Cornerstone listed additional shares and now have 5.06B shares outstanding. They have not released full year results most likely due to the fact that FY results have to be audited. I suspect it'll be out by month end. Did not hear any story about a technical suspension so I don't know why the stock is stagnant. Regardless, expect the PE to be very high at a price of N4. I'd rate it an immediate SELL and not a buy.

@easimoni
It seems you have a good understanding of the Insurance sector,
Any info on Lasaco?

easimoni:

A few weeks ago, Cornerstone listed additional shares and now have 5.06B shares outstanding. They have not released full year results most likely due to the fact that FY results have to be audited. I suspect it'll be out by month end. Did not hear any story about a technical suspension so I don't know why the stock is stagnant. Regardless, expect the PE to be very high at a price of N4. I'd rate it an immediate SELL and not a buy.

easimoni , could you plz give more in dept details why think cornerstone is an immediate sell .

@BIGBOYLARY,
are you a broker? like your analysis, if u don't mind can i meet u? i mean your phone nos or email add. mine is giwababatunde@yahoo.com, fone- 08054232679. would be very greatful if my requst is favourable considered.

thanks

@meetgiwa,

Am not a stock broker am an investor presently am in london u can reach me on +44-7798830387, my email is on my profile.

egoldman:

easimoni , could you plz give more in dept details why think cornerstone is an immediate sell .

Following the PO, they now have 5 billion shares. if you project their 1Q07 results (PAT = N175M) to a full year, you get an EPS of 14k. So, a year from now, Cornerstone should be worth ~N3 (based on PE=22). Compare to the current price of N4.

Bought some Oceanic share today. Hope fully it will yield to my expectation.

nazzyon:

Bought some Oceanic share today. Hope fully it will yield to my expectation.

you are lucky .

To the gurus in the house Easimoni, Frankiriri, Enolase and others.
Access Bank just fixed their IPO price at 14.90, a massive discount of 4.42 naira. Is this a good buy considering the fact that the stock price was pushed up rapidly in the last week preceeding the offer to 19.32. Please lets have your opinions.

Thanks All

nazzyon:

Bought some Oceanic share today. Hope fully it will yield to my expectation.

Who is your stock broker if i may ask, that stock is supposed to be like gold at the mo

Am eager to hear what the gurus have to say on Access bank. Personally I do not see any thing fantastic there.

@dollyp

U are very very lucky, I deposited money for like 10 days for my broker to get me Oceanic Bank but not available, so when i saw the thing getting to N24 I just told them to buy me C & I. I think U are very luck indeed. Will U sell some to me.

@all

My opinion is that Access at N19 is quite high and even the offer price is just fair but my issue is the projected 4Q2007 EPS is quite low.I think in the 60k range for a stock selling as high as dat. For the medium term I think okay provided investors sentiments still remain and they increase their earnings.

The fastest way to take a bath in the stock market is to try and prove that u are right and the market is wrong.

Conventional wisdom and consensus thinking is seldom right in the market place, so i will advise everyone on this thread to learn the fundamentals of the stock market if u are thinking of buying, selling or even stocking shares.

@ All,

good piece by Allcorrect. My spreadsheets say Access Bank's EPS could be 80k a year from now (accounting for the new shares). If you buy the PO, you'll get it at a FORWARD PE of 18.6 (not bad) but not until this time next year. Bank stocks are becoming overpriced and this PO heads the list. You'll be much better off buying GTBank on the market. Barring GTBank coming to the market for a PO, I can bet you'll get better returns with GTB than with Access. Don't forget you'll wait months for the certificate.

Say no to POs!

Allcorrect:

@dollyp
You are very very lucky, I deposited money for like 10 days for my broker to get me Oceanic Bank but not available, so when i saw the thing getting to N24 I just told them to buy me C & I. I think You are very luck indeed. Will You sell some to me.

Was not me that got the shares , twas nazzyon see post above.

As per Access bank, I am just not interested to tie my money down for 6 months, how many banks have come to the market this year, UBA, OCEANIC, FIRST BANK, so I'll pass on this one. I am not even checking fundamentals .

@dollyp

Soori bout dat,

@ all
access isnt impressing piple but lets remove sentiments here, if its an avenue to make some dough then Y not. Personaly i have some units of access, i mite just buy a few units and sell off part of what i presently have. Might probably get to N23-N25 even with the poor EPS, every man knows what works for him or her.

But again u must be savvy on an issue as dis one. Look at FBN, they are currently doing their PO, but can U believe they have released the Audited report for March 2007 in JUNE.

Normally the result doesnt come until end of July or August. So they have released it so that U and I will fly and buy their shares. They have not said what they will give but i think the result is fair, but the effect of the last year 1 for 1 will definitely be felt in this result.

Nigerains, we sure are smart. Lets make the dough while we can. The BULL is hot.