@omoba

u all gat mail

I still never get am o!

rotunda77 at gmail dot com

@Omoba

Make you try post am to rotunda77 at gmail dot com as well.

@AKtopgun

@samstone

http://www.gapbridgemfb.com/

i noticed that he has my surname as well  

se make i kuku help you spell your full name and work address as everybody don know am now? On a serious note, don't you think you are over exposing yourself for a faceless forum?

@Roughcut

The facts from that post are that FCMB will be spending N12.5B  to acquire CSL that represents about 17% of the proceeds from the PO. The fact again is CSL is expected to generate N1.5B by 2010 which i think is what you made reference to and that represents about 5% of the attributable income to FCMB. The issue i had with the transaction was that FCMB did not need to spend N12.5B on CSL they only need to capitalize it to the tune of N1B to satisfy regulatory requirements

CSL on its own i estimated the netweorth of at around N275M and annualized PAT at around N925M. By the way this was from a report compiled  by another fund manager based in  UK.

So as far as i'm concerned that deal does not make sense financially so that's what put me off that stock and that is not saying FCMB is not a good company to invest in.
Sometimes you need to look under the bonnet so you have all the facts at hands before making your investment decision.

I can tell you now you are not going to see anything spectacular FYE!

I can't lay my hands on the full prospectus anymore but I did not realise the 1.5b from csl is over 3 years. Will go back to the drawing board to re-strategize since 9 months don commot now.

I no fit complain too much sha as I bought 650bags in Jan'07 at an average of 6 and 200bags at PO price. Sold 350bags at 19 to recover my costs and rest I dey ride for free.

@Blueband

My day today

Went to work by bus today.On my way back this night bus was filled with Nigerians and you culd hear them(sorry,us) shouting "sho" ,"I bow for you o", then one shouts IGZAKTLI, (actually she meant to say "exactly", it just reminded me of Lagos.That is Thamesmead for you.Welcome to Nigeria.

I understand IGZAKTLI what you are saying. Used to live there about 4 years back and I witnessed part of the transformation before moving outwards to Kent. It's nice to know someone on this thread lives not too far away. drop me a mail at rotunda77 at gmail dot com if you like.

@Roughcut on FCMB

They made a projection of N15B for FY '07 in their offer prospectus so is it possible that they  make ~N7B in the next 3 months?. Something tells me not i thought the projection in the prospectus was way too aggressive.

Their prospectus said part of the money raised would be used to acquire csl stockbrockers which will deliver 1.5b FYE. There was another 1.5b from another source which I can't remember now. If you add this 3b to the expected 12b from the banks PAT, they appear on course to meet the projection.

I also heard from the grapevine that they used/are using their GDR money on some juicy turnaround deals that will even add to the bottomline.

We shall see at FYE.

@Wanaj0

Abeg, no be my contact OOOOO!!!! Do your due dilligence. CAVEAT EMPTOR

No problem, I can handle it

@Wanaj0

@ ALL,

On Transcorp, the initial PP was done @ N1.00 for shares at par value of N1.00. Later the second round of PP was done @ N6.00 for the same par value shares of N1.00. Prior to listing, a stock split was done. This invariable means that people bought the shares @ N0.50 and N3.00 for the 50k share. Those that bought via the PO bought @ 7.50.

So even @ N3.00, those that bought @ N0.50 are willing to sell and that is at huge profit!!!! That's the benefit of getting in early. Expect those that bought @ N3.00 to start selling now.


On IAA, I am not doing any investigation. My cheque don go already. If not for the other listings for this month, the listing would have being by last week of February. Now I think March/April is more like it! Got no time to waste.

For those who have questions, call Thelma on 08024917183 of Transglobe Investment and Finance Co. Limited.

Thanks for this. I called your contact and reserved some units and will get the cheque across this afternoon somehow.

@Easimoni and Marco74

Marco is right about oil exploration as per info from my broker. See highllights of C&I below;

·  C & I Leasing is one of Nigeria’s largest leasing companies. Involved in
the business of extending finance and operating leases to various
customers. About 50% of the company’s current business is in oil and
gas operating leases.
·  Acquired LeaseAfric Ghana for N231.8m in 2006, which now contributes
N46.4m to group profits.
·  Currently involved in a joint venture which acquired a marginal oil
field in the Niger Delta region; it commenced operations in December
2007.
·  Has set up a subsidiary, C & I Motors, for the sales and services of
Suzuki brand of vehicles.
·  Q3 results - Gross earnings are up 71% to N1.9bn and Profits After
Tax are up 248% to N298.7m from the previous 9 months to October
31, 2007.

and some more,

Kajola Integrated Investment Ltd @N1.05 per share

Resort Savings Private Placement @N1.00 per share

anyone got info on these?

@SavvyLanre

Abeg, i have been spoiled a bit by my nice broker ZSL.

Any help would be appreciated from anyone,

I no sabi fill out a Share verification form,

Full Name of Company or Undertaking - That is the share name right? Correct.

Amount or Number and full details of Shares - Write in Figures and in Words, right? Correct

Transferor name and Address - To be signed by you (so the shares can be transfered to buyer during transaction)

Consideration - Leave blank (It's for value in Naira when shares are sold)

Transferee name and Address - Leave blank (This is for when you are buying)

I believe the above is correct but I will the brokers in the house to re-confirm

@Gudchoice

Quote from: son5070 on Yesterday at 09:41:37 PM
FCMB PO FROM CSL Stockbrokers Ltd

1,000 - 999,999 (97,433 applicants) - 100% allotted.
1,000,000 - 4,999,999 (266 applicants) - 90% allotted.
5,000,000 - 299,999,999 (112 applicants) - 85% allotted.
300,000,000 - 749,999,999 (3 applicants) - 30.77% allotted.
750,000,000 and above (3 applicants) - 5.20% allotted.

Total allotment = 4,505,797,259 units



Is this true? You mean if I had  applied for 1 million units, I would have got it  

If this is so, then FCMB was a much better offer than all recent offers put together!

My interpretation is that people still don't trust the bank. they believe it's still owned "100%" by Otunba but the fact is that his family's ownership has been whittled down to 30% or under.

this is good for those of us on the flight as total outstanding will be increased to only 14b - reasonable in this sector imho! Hope they land a good q3 result sha.

@Naijadr

did anyone receive an email from FBN regarding PO? The email came to address I had on my application

subject:   Notification of FirstBank Share Application Status

Good day Sir,

Please find below an update on our share offer for your information and further action.

ALLOTMENT

The offer was grossly oversubscribed; hence only applications for up to 10,000 units were fully allotted.

RETURNED MONEY WARRANT

Further to the above, we are in custody of your returned money warrant. You (or an authorised person) can reach the undersigned for collection or advice account number into which the warrant can be lodged on your behalf (please note that we are not authorised to lodge warrants into third party accounts).

INTEREST ON RETURNED MONEY

We are paying interest on returned monies at an annualised rate of 5% for the period starting from September 10, 2007 to November 05, 2007. The interest warrants are being issued by the Registrars and will be dispatched to the address on your application form in due course.

SHARE CERTIFICATE

The Registrars have further confirmed that your share certificate has been dispatched to the address on your application form.

Once again, thank you for investing in FirstBank and do feel free to contact us for further clarification or assistance.

Kind regards,

I received the same email but I believe it's belated. my refund was credited early last month.

@All
especially for the Access lovers,   not impressed as as outstanding is now ~16b

ACCESS BANK PLC
UNAUDITED NINE MONTHS RESULT ENDED DECEMBER 31, 2007
                         2007       2006     %CHANGE
TURNOVER                 N41.890b   N17.127b  145
PROFIT BEFORE TAXATION   N13.153b   N4.303b   206
TAXATION                (N4.2b)    (N1.075b)  291
PROFIT AFTER TAXATION    N8.994b    N3.227b   177

@pumping

Some discussion around page 374.

na wa for you o. how you dey take remember page no. for this thick forest?

@Eniyanman

That's true. If you don't use leverage that should not be a problem. One can also limit  investments to FTSE100 (especially large caps) where volatility is lower. My prob with NSE is high dealing costs, so I wan learn to CICO  

My broda I don learn my lesson now. That time wen tech stocks dey reign (I no no wetin dem dey call fundamentals), I put equity + leverage inside the market and when dotcom buble burst, I hear weeen. The type wey be say na one eye you dey close to sleep the other one dey watch price.

Anyway I be born again investor now and I dey watch my money closely. once beaten twice shy.

@Roughcut
Quote from: afamako on Today at 03:36:37 PM

@Hbrednic
I hope say people no go fall for this one o. them wan charge you 2% management fee and on top of that 20% of your profit? that na craze.



Its a fund which means your subscription is part of a 'larger' pool of funds that invests in a telecomms business probably MTN but i'm not sure so don't quote me. Anyway the 'koko' is that Lead  capital will take 20% of the profit or returns which they may re-invest in the fund after which they will distrubute the profit to the subscribers in the fund according to the proportion of your investment. Treat the investment as a mutual fund or unit trust.

No be the same MTN fund Afrinvest dey charge .75%+.25%(~1%) and Leadway charge free to friends of the company? 20%+2% in my opinion no be small money.

@Aktopgun

got any contacts of brokers who can take on an individual investor who doesnt yet have the pockets of rockefeller?

would appreciate it.

Try Barclays Stockbrokers or TDWaterhouse. I can't remember their numbers but you can google it. Halifax too use to have scheme where commission charged was a flat £10 per trade regardless of volume.

@Aktopgun

could u tell me the process of trading on the LSE bruvs, most brokers i've talked to here in london deal in heavy bucks which i'm sure u've got  . so how do the up and coming get into the LSE as individual investors, the whole shibang if u please.

All you need to do is call any of the brokers here and open an trading account. You can transfer money online to and from your bank account to fund your trades. Trades here were T+5 when I used to trade here so if you are lucky, you can make money without putting in a penny.

What I don't like about LSE (and why I stopped) is that there are no limits to the price movements on a daily basis which was too risky for me. I bin fear hypertension so I run go Gidi.

@Hbrednic

FOR ALL PP LOVERS,
LEADCAPITALS IS GOING ON WITH "LEADS TELECOM PP"
MINIMUMINVES. N1.000.000
EXIT PERIOD       3YRS.
FOR MORE INFOR        LEADCAPITLNG COM


another gsm competitor:

I hope say pple no go fall for this one o. dem wan charge you 2% management fee and on top of that 20% of your profit? dat na craze.

@Rhemagirl

gurus, i am waiting o!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!tell me how nahco shares were alloted because these people are robbing us in broaddaylight

aah haa Rhema, which one you dey now? you ask question this minute and you dey send reminders 3 minutes later. give the gurus time make dem read ya post finish now,

@Windywendy, Wanaj0

Thanks for the indepth analysis of MTNN. It goes a long way in making that decision

@Pumping

Like I said yesterday, if you did not buy the Japaul Cinema ticket as adviced last week, you missed the film show. It is now at a price that profit taking is already very attractive even for someone that bought last week. It may not cool down because of the bonus rumour but I will consider that too much of a risk.

Ikeja Hotel is solid at a limit price of N6.

Can you please confirm Ikeja's outstanding is 1.73b shares?

@Samstone

What does "na sheru bawon" mean?

Samstone4 

Make fear catch them!

@Roughcut

MTN Nigeria gross revenue half-year june '07 is N173B(i think this is a cash cow!) and forward  EPS has been estimated N12.89 by proshareng.com

Half-year operating expenses is about N35B(38% of gross revenue) and expenses before interest, taxes etc around N100B so PAT for half-year '07 comes in at around N38B annualized gives a forward PAT for full-year '07 as N76B  according to proshareng.com.

I think i will leave you to make your own conclusions!

I understand what unit trusts are but what I'm trying to get my head round is the valuation. MTNN financial information provided by Afrinvest (house floating the fund) shows PAT for half year 07 as N52.4b so annualised is N105b.

I asked them for the total outstanding of MTNN and was told 43 million shares. Now don't forget each share is approx $25 (N2,950.00) which means an EPS of N2,441.00 and PE of 1.2 (This looks too good to be true hence checking info from other sources).

Can anyone confirm the number of outstanding shares for MTNN?

@Help me

What is the meaning if a stock is on pending?I told my
broker she should sell Intercon.bank for me last week,but she
is telling that it is on pending since last week thursday,I gave her a mandate @40.50,
but the price for today is below 40.My guru in the house,can you
show me light.I hope the NSE will not sell it below  N40.50 for me

The gurus dey watch football and I heard Ivory coast is trashing us.

Anyway, the most probable meaning of "pending" is that they have not been able to execute your trade at the N40.50 you requested so until the the price goes high enough, na pending e go dey o.

Just a little spice before pple return from nations cup.

-Warren Buffets top ten investment tips

1. Invest in Value:

Warren Buffett always looks to get $1 for 75 cents. That is true whether the business is as boring as shoes or furniture manufacture, or as complex as insurance. He has invested in all these. He works by analysing a company’s accounts in the manner recommended by Ben Graham, the father of investment analysis. If a company was sitting on property worth $100 million, had cash of $50 million and other assets saleable at $50 million, but was only valued by the market at $175 million, then that firm would be worth a closer look.



2. Look for the Business Franchise:

Businesses that work really well over the long-term don’t just build a better mousetrap, they own the patent. A unique asset, like a 100-year title to a rich mineral coal seam close to a steel mill, an airport site by a big city, or a powerful brand like Coca-Cola are all enduring franchises. These companies don’t need to fight on price to get business. They have an unfair advantage. The opposite of franchises are commodity businesses. There are millions of them, and what they all have in common is that they have to trade on price because they face effective competition.

3. Buy Good Businesses:

This sounds obvious, but isn’t. By Buffett’s yardstick, a good business is one with a high real return on invested capital, rather than with good headline earnings growth. Those returns should be measurable in cash terms. Dividends are a good indicator that cash is available.

4. Avoid Firms that run for short term:

Too many firms have managers who think short-term and act that way. Buffett hates businesses where boardroom insiders sold into temporary market strength or expanded the company through over-priced acquisitions.

5. Patience is a virtue:

Having the patience to wait for incredible bargains is a discipline Buffett has used time and again. Market mis-pricing comes around with regularity. Professional fund managers are often under too much pressure to act to be appearing to do nothing, but the small investor can wait without anyone looking over his or her shoulder. My guess is that Warren Buffett would be keeping a keen eye on how incredibly cheap some British banks have become in the recent market falls.

6. Buy Businesses with free cash:

Buffett has many times bought into companies that have a huge amount of under-used cash sitting on the balance sheet and then used that to purchase other firms. In John Train’s book on Buffett, The Midas Touch, he describes how Buffett bought the firm Blue Chips Stamps in 1968 and used the stock of stamps sitting on the balance sheet to turn into cash which he then used to Buy See’s Candies and the Buffalo Evening News. These last two buys came at no capital cost to Buffett himself.

7. Keep it simple:

Buffett avoids meetings, has no acquisitions department and has a modest personal staff. He doesn’t subscribe to investment fashions, or jargon-laden approaches. For Warren Buffett, investment doesn’t have to be dressed up to work. It makes money in its shirtsleeves.

8. Keep cutting costs:

Cost-cutting and an almost skinflint approach to overheads mark Warren Buffett out from others. This is reflected in his personal life. He still lives in the same modest house he bought in 1958 for $31,000 and drives a very ordinary car. His own salary is only $100,000 a year, which is about a tenth what the typical chief executive of a similar-sized firm might be paid.

9. Understand the figures:

Thinking like an accountant is a pre-requisite for investing like Warren Buffett. He can really get to grips with a corporate engine room, and home in on the machinery which is vital to the generation of profits. Only by doing so can you understand the difference between so-so companies, good ones and great ones.

[size=14pt]10. Make money while you sleep:[/size]

Buffett works hard, but he’s not a workaholic. Having used simple ground rules to ensure that he knows he’s only taking a low level of risk and will be in for the long-term, he’s an investor who can sleep soundly and ignore the panicky movements of the markets.

@Wanaj0

Thanks

@Windywendy

Don't have time to post now but will post my analysis on MTN Nigeria tomorrow or thereabout. Needless to say, it's a very very solid offer at $24.56 (which is the offer price, and also the price at which IBTC is offering it). In my opinion, 3 years is worth the wait for this.

Thanks too, will wait to see your analysis before making my mind up.

@Wanaj0

On MTN, MTNI (MTN International) is a publicly traded company (listed on the Johannesburg and New York stock exchanges) and as such cannot offer forward looking statements. Each unit of the fund is equivalent to approximately 400 units of MTN, be advised at the end of the investment these shares will be exchanged for shares of the exit “SPV” at a yet to be determined ratio.

That's the info I got about the profit forecast (none is available)

With 400 MTN shares per unit, the shares are being sold @ US$25. Not bad for those that can wait for 3 years or more.

I was just thinking of a different way to approach this MTN thing, since MTN Nigeria is responsible for 40% MTN Group's profits and are currently trading at about 420Rand ($59.xx) on the SA exchange, does it make some sense to use 40% of this list price as a guide to MTNN value? This translates to about $24, in which case there isn't a discount. Responses welcome from all.

@Aktopgun
Quote from: alliednetw on Today at 01:20:12 PM
Sorry People,My Skye Bank contact claims that the entry price for CHAMS PP is now 4naira.But there is an assurance for full allotment.


Do you honestly think it is still worth it purchasing chams at N4?

I stand to be corrected but I'd like to be believe it's Alliednetw's contact trying to pull a fast one and not Skye bank - The document says N2.50

@All

Does anyone in the house know where I can download the Zenith Bank rights form please?

@princesege
Did anyone notice what happened to INTERENERGINS today, moved from 1.93 to 6.04. Amazing!
About 240%. I am selling straight away.

2008, my year of blessing.

Any comment on this insurance stock will be appreciated.

That go be reconstruction.