At the beginning, my calculation on WEMA bank was positive but right now I am beginning to doubt the future of my investment in WEMA bank shares.

Can anyone shed more light on the Bank please? Positive will work for me. I paid in lots but right now it has not even yield a quater of my estimate return.

can anyone here tell me why intercontinental bank is yet to send out certificates for its last ipo? Also can i know when oceanic, first bank would also send out their certificates. And i would also like to know the current value of GTbanks GDR on the london stock exchange. i felt it was a rip-off, because it was sold at $12.75 and i heard it was listed on the market as $11.20. can someone please confirm that

Hey Folks,

What's your take on the On-going Access Bank Public Offer?
Is it a good deal?
I'm thinking of investing in it, any advice would be appreciated.
Thanks

ebos:

You know, I'm not a Broker but I know everything about Share, the dealers like Bull, Bear and Stag, and that is all I know and nothing more. My friend is a Broker and a close Brother of mine works in the Stock Exchange. This my friend called and encouraged me to buy First Bank Shares, according to him they have not returned all the forms filled by the Investors. What he did was to get a form which I filled, and I saw many other forms filled by so many Investors and were ready for returning. This was just recently, many weeks after it has been closed. I then paid my money into his account. He's a trusted friend - 99% trust I have in him. That's the possibility.

I'm sure you trust your friend, but this deal sounds fake. FBN offer closed on July 5. To my knowledge, most brokers have until 2 weeks after the closing date of the PO to make returns to the registrars. That date should have been July 19 or thereabout. By now the registrars ought to be sorting out the forms and handling the allotment, etc. I'm also aware that the NSE has ordered that companies allot shares and issue certificates within 1 month of the closure of an offer. So your broker's deal does not sound credible -- unless of course he's the registrar and can allot you shares at this point prior to the certificates being sent out.

windywendy:

I'm sure you trust your friend, but this deal sounds fake. FBN offer closed on July 5. To my knowledge, most brokers have until 2 weeks after the closing date of the PO to make returns to the registrars. That date should have been July 19 or thereabout. By now the registrars ought to be sorting out the forms and handling the allotment, etc. I'm also aware that the NSE has ordered that companies allot shares and issue certificates within 1 month of the closure of an offer. So your broker's deal does not sound credible -- unless of course he's the registrar and can allot you shares at this point prior to the certificates being sent out.

Not that am doubting you , but are the words in bold red really true ? do you have any link to an article about it ?

Khaleefa:

Hey Folks,

What's your take on the On-going Access Bank Public Offer?
Is it a good deal?
I'm thinking of investing in it, any advice would be appreciated.
Thanks

Khaleefa, the offer has been discussed at length on another thread.

https://www.nairaland.com/nigeria/topic-57763.0.html

@ Wendy. I believe what ebos said about buying after the offer closed. I have seen a couple of co-workers go through the back door during other offers. Never seen it on a stock that has had it's suspension lifted though. Just more proof of my beef w/ NSE. too many loopholes.

Folks

FBN is seriously ROCKING! 54 Naira today!

@Dearstan

The last time i checked the london stock exchange website, the GTDR was listed at $11.20; whether this is a rip am yet to know until i get the details from the share certificate.

Guys yeah,
There was an analyst's article labeling the insurance sector as "the pendulum of the Nigerian Stock market". They said the gains made there surpassed the gains made in the banking and petroleum sector combined. This is astounding news seeing Zenith's revenue and FBN's dividend payout offer. haba!! How could i have ignored such a cash cow??Which Insurance companies una go recommend as long term
All Gurus please respond, !

Part II

Once person mention "penny stocks" e be like say the person na leper, no replies whatsoever!!. At the risk of flogging a dead horse, let me take a leap of faith and ask: which penny stocks go hot, which penny stocks go hotwhich penny stocks go hotwhich penny stocks go hotwhich penny stocks go hotwhich penny stocks go hot
Thanks all.!!!


_{The difference between ordinary and extraordinary is that little 'extra'.}

Bonus Issue Credited by CSCS for 5 firms
Posted Wednesday, August 1, 2007

Kindly be informed that the Central Securities Clearing Systems Ltd (CSCS) has credited accounts of shareholders that qualified for bonus issues of the companies listed below with the bonus declared for 2006 financial year end. The companies are:



1. Benue Cement Company Plc (BCC)

2. United Bank for Africa Plc (UBA)

3. Oceanic Bank Plc

4. Union Bank of Nigeria Plc (UBN)

5. First Bank of Nigeria (FBN)



Please if your portfolio has not been updated with the bonus, kindly contact your stockbrokers

Sources ; http://www.proshareng.com/myproshare/portal_news.php?id=2697

windywendy:

I'm sure you trust your friend, but this deal sounds fake. FBN offer closed on July 5. To my knowledge, most brokers have until 2 weeks after the closing date of the PO to make returns to the registrars. That date should have been July 19 or thereabout. By now the registrars ought to be sorting out the forms and handling the allotment, etc. I'm also aware that the NSE has ordered that companies allot shares and issue certificates within 1 month of the closure of an offer. So your broker's deal does not sound credible -- unless of course he's the registrar and can allot you shares at this point prior to the certificates being sent out.

Yes you do have two weeks after closure of a public offer for filing of returns. That normally takes a week. Anything after that you are on your own!!!

No way that statement in bold can be true!!!!

For starters, NSE has no control over other capital market operators hence cannot issue an order to any of them. It is only SEC that can do that. Knowing the proceedure for concluding an offer, no way certificates will be issued after one month. What NSE has said was that they will lift Technical suspension about two weeks after the conclusion of an offer.

For certificates, expect nothing less than 4 months for bank offers.

E-allotment will hopefully solve the problem.

Please does anyone has anything to say on unity bank?
secondly, haas fast is does the e allocation take.i want to approach the access bank P.O via that.

i had a few thousand unity shares myself. the rumor of the merger with ecobank spurred it on a few months back but now as it has no released results whatsoever and no fundamentals people are dropping it and hence the price is sliding rite now. hang on for a while

Thanks for ur propmpt response. I have not bought any yet from them.Do u advise i do so? some interesting people recently joined their board. Felix Ohiwerei for instance. can u pls attempt my second question on how fast shares in the ongoing Access bank offer will be allotted to my cscs account if i opt for that leeway

i think u should hold on for the unity for now people are dropping it currently, maybe u should chill at least till they release their results and analyse for yourself.
the e-allotment wont take anything less than 6 months going by the trend with these banks

Wanaj0 , so its now mandatory tech suspension will be lifted on any stock two weeks from the end of its public offer ? this info is very important to me .

@ rob roy, i no be guru but in my own opinion, japaul oil, c&i leasing and continental re; look good

Am looking for an active stock broker
who will be able to notify me of short time stock deals
any help will be greatly appreciated

egoldman:

Wanaj0 , so its now mandatory tech suspension will be lifted on any stock two weeks from the end of its public offer ? this info is very important to me .

2 weeks from filing of returns by stockbokers i.e. about 4 weeks after end of public offer

aksance:

2 weeks from filing of returns by stockbokers i.e. about 4 weeks after end of public offer

thanks very much .

I have a question here , i have a friend and his broker has given him an account to deposit money , however the account is the personal account of the broker and not of the brokerage firm , i asked him if the broker is the owner of the firm and he said no , he said the broker works under the firm , so i thought of asking about it here , cos my broker from cashcraft doesn't give me her personal account , she gives me the account of cashcraft with cashcraft name , plz them gurus should give good advice here .

egoldman:

I have a question here , i have a friend and his broker has given him an account to deposit money , however the account is the personal account of the broker and not of the brokerage firm , i asked him if the broker is the owner of the firm and he said no , he said the broker works under the firm , so i thought of asking about it here , because my broker from cashcraft doesn't give me her personal account , she gives me the account of cashcraft with cashcraft name , plz them gurus should give good advice here .

Well you are doing business with the broker (individual) and not the company!!!!!!! Be wary of that!!!!!!!!

I prefer to deal with 'reputable' company who have their name to protect. With that, if they try to play funny I can make a lot of noise. But with an individual with little or nothing to lose, I will be careful!

First Bank Bonus/ Dividend
Those of us who bought at the recent PO, do we benefit from this too??


Cornerstone, Lasaco, mutual benefit
( basically which insurance stocks are the best)
Thanks

egoldman:

Not that am doubting you , but are the words in bold red really true ? do you have any link to an article about it ?

Sorry I don't have the article. Also, the information in the article, which I read about a month or 6wks ago, relates to bonus issue -- ie. NSE (or SEC, can't remember quite well now) ordered that companies that declare bonus (NOT POs as I initially mentioned) credit shareholders or send out the certificates within a month of the declaration. Sorry for the mis-information.

jehosaphat:

First Bank Bonus/ Dividend
Those of us who bought at the recent PO, do we benefit from this too??

The answer: Big, Fat NO! I suspect they split the share so it'll be less attractive for you PO buyers to dump the shares when you ultimately get your certificates. Nice move by big elephant

@WindyWendy

CIRCULAR TO ALL PUBLIC COMPANIES from (SEC)


The Commission in its effort to sanitize and improve the efficiency of the capital market for the benefit of investors, hereby directs that bonuses declared by public companies to their shareholders be issued to the beneficiaries, within one month of the passage of the resolution by shareholders, at the company’s Annual General Meeting (AGM).

All public companies are advised to immediately comply with this directive, as failure to do so would attract sanction.

MANAGEMENT

CIRCULAR TO ALL REGISTRARS from (SEC)

It would be recalled that the Commission in August 2006, gave approval for the implementation of the e-bonus system in the capital market. All Registrars were also directed to make adequate preparation for its implementation.

The purpose of this circular, therefore, is to direct all Registrars to implement the e-bonus system on or before February 1, 2007.

You are all advised to comply with this directive in the collective effort to move the Nigerian capital market to greater heights.

Management

Panadol:

@WindyWendy

CIRCULAR TO ALL PUBLIC COMPANIES from (SEC)


The Commission in its effort to sanitize and improve the efficiency of the capital market for the benefit of investors, hereby directs that bonuses declared by public companies to their shareholders be issued to the beneficiaries, within one month of the passage of the resolution by shareholders, at the company’s Annual General Meeting (AGM).

All public companies are advised to immediately comply with this directive, as failure to do so would attract sanction.

MANAGEMENT

Thanks Panadol, that's the one I was referring to. Apparently it relates only to bonus issues and not POs.

Dang easimoni,
Why u dey vex? say na "all u PO buyers". WHo said i'd be willing to dump it? Am in for the long term! If na to give advice na so u go scarce, if na to deliver bad news u dey on time. I made some gains anyways,

egoldman:

I have a question here , i have a friend and his broker has given him an account to deposit money , however the account is the personal account of the broker and not of the brokerage firm , i asked him if the broker is the owner of the firm and he said no , he said the broker works under the firm , so i thought of asking about it here , because my broker from cashcraft doesn't give me her personal account , she gives me the account of cashcraft with cashcraft name , plz them gurus should give good advice here .

AND SO, TELL YOUR FRIEND TO WATCH IT?!

JAPAUL OIL AND MARITIME SERVICES: ANALYSIS CULLED FROM PUNCH ON THE 28TH OF JULY 2007
Recent legislation on the ”Cabotage Law” is believed to boost the company‘s operations as it would herald the entry of more indigenous firms into the upstream oil sector. This development would augur well for Japaul as the vessels to be used by them are to be sourced locally. The Q1 2007 results attest to the viability of earnings growth. Profit after Tax rose by 151 per cent from N33m to N78m while turnover grew by 245 per cent from N153m to N527m. As profit projections continue to soar, there is every indication that the share price will rally and possibly take the stock above its previous all time high price of N7.70. Given the last trading price of N6.02, the offer price of N3.95 represents a discount of 34.38 per cent. We, therefore, recommend the offer based on the potential for capital appreciation.

Hey all,
Important question please, when is the end of the financial year for the Nigerian Stock Exchange? Does it differ by coy or is there a general closing time. I am asking because i would like to purchase shares then ( when all profits have been made and the prices are more or less the true fair value). Thanks