RoughCut:

Can you believe this Soludo guy? i have just read a report where he was quoted as saying that CBN will not allow any more foreign take-over of domestic banks and that there would a cap on the equity stakes by foreign investors in nigerian banks.

My question is how are the banks supposed to compete on the global stage if willing investors are limited in what they can invest in these banks ? the truth of the matter is there is a limit to which these banks can continue to raise funds from the local capital market (no wonder Zenith has approached the market 3 times in the last 4 years)

Foreign take-over, yes may be that needs to be disallowed at least for now but putting a cap on the amount of capital offshore investors can invest is non-starter for me.

I hope this guy has not overstayed his welcome!!
na wa o

MyPeace:

BTW, if I am the architect of my life who is the builder??

God is the Builder. You first decide/design the direction of your life, then God lead the way, on the otherside, if u decide/design a wrong direction, DEVIL leads the way. So up to you!!

Make we take this discussion go somehwere else!

If I have to decide then I am on the wrong path. There is a way that seemeth right to a man but the end thereof is, I am the builder. That's why I need to be careful what kind of material I use to build.

Hope we will not be banned!

wanaj0:

That na old news! Foreign investors will not be allowed to take over our 'BIG' banks. However they can come and establish there own BIG bank in Nigeria. Equity is not the only way of raising capital. You can use debt to also raise capital.

Soludo will put a cap so as to prevent a take over. If they need money, banks can use debt to raise the needed capital.

RoughCut:

Soludo is not being realistic between you and me we know that more than 90% of the debt instruments these 'BIG' banks have so far used in raising capital are from offshore sources. Give me one 'BIG' bank(may be excluding First bank and UBN) that does not have a substantial amount of debt stock on their balance sheet and the funny thing most of the debt and debenture stocks are convertible instruments which means at maturity the holders of these instruments can elect to convert to preference or ordinary shares

So who is Soludo fooling?

RoughCut:

Soludo is not being realistic between you and me we know that more than 90% of the debt instruments these 'BIG' banks have so far used in raising capital are from offshore sources. Give me one 'BIG' bank(may be excluding First bank and UBN) that does not have a substantial amount of debt stock on their balance sheet and the funny thing most of the debt and debenture stocks are convertible instruments which means at maturity the holders of these instruments can elect to convert to preference or ordinary shares

So who is Soludo fooling?

wanaj0:

CBN will not give any of the BIG bank the approval to raise convertible debt that will make them target of a takeover!!!!! It is not a matter of Soludo fooling anyone. His point is simple, let them come and establish in Nigeria. They can come and establish the BIGGEST bank here and compete. But to just come and acquire one of our own BIG banks, that's what he said CBN will not allow.

Hope you know that your Access, FCMB and co are not aprt of the BIG banks

nazzyon:

Hello,

Please, I need to clear something off my mind.

I bought a Bedrock Fund @ IPO. I don't have account with cashcraft. Is it necessary that I get a CSCS account?

Thanks.

nazzyon:

Hello,

Please, I need to clear something off my mind.

I bought a Bedrock Fund @ IPO. I don't have account with cashcraft. Is it necessary that I get a CSCS account?

Thanks.

tonyjon:



According to the prospectus, you don't need CSCS # and the fund will not be listed on the floor of NSE.

Cashcraft is the fund manager.

Peace.

rasputinn:

Bedrock what??

tufe:

Hello every one,
Just want to know, are investors given share certificates for investing in mutual funds, and are it's shares easily disposable as other stocks.
I intend on buying this ARM aggressive mutual fund. One more thing, would it be quoted on the NSE?
waiting a reply. Thanks

stanchuks:

they have started posting, i got mine on Wednesday last week,although i bought it through my broker, so just be patient

tufe:

Stanchuks, thanks for your reply, but it doesnt exactly give me insight into what i wanted to know. Please elaborate on my question. Thanks alot, anticipating your reply

aktopgun:

@tonyjon

why do u think bedrock is a good fund?

i hope u don't mind my asking

tufe:

Hello every one,
Just want to know, are investors given share certificates for investing in mutual funds, and are it's shares easily disposable as other stocks.
I intend on buying this ARM aggressive mutual fund. One more thing, would it be quoted on the NSE?
waiting a reply. Thanks

nazzyon:

No it won't be quoted

aktopgun:

@ roughcut
yeah i saw their results and they were disappointing
i'm not buying them yet but theyt are one to watch
they've been good the last 5yrs or and can be forgiven for a bad quarter.
the worry is if the trend continues into full year results

my bubble remains intact or have i misunderstood, were u talking about wema?