God bless you Seun

@omoba
pls hit me the stuff too: shen_chui at yahoo dot com

breaking news!!!

SEC suspends trading on Afroil, Capital Oil shares
The Securities and Exchange Commission (SEC) has suspended Indefinitely trading in shares of Afroil Plc and Capital Oil Plc across the floors of the Nigerian Stock Exchange (NSE). A release by SEC's Head of Media, Mr. Lanre Oloyi in Lagos, said that the suspension was a fall-out of the investigation conducted by the Commission on the activities of the two companies. It said that the action was to protect the investing publics and warned stockbrokers to avoid trading in the shares of the companies. SEC questioned what it called "illogical and astronomical rise in the share prices of the companies'' when they were not submitting statutory reports. The Commission said its investigation revealed that during the period of the price growth, the two companies were basically out of business. "The basis for continued trading and rise in the prices of their shares on the NSE no longer exists and the investing public must not be deceived,'' SEC said. The News Agency of Nigeria (NAN) recalls that SEC had, on February 14, 2008, said it was conducting investigation into the activities of five companies, accusing some of them of insider trading and price manipulation

, source guardian news

@ all
DANGOTE SUGAR REFINARY PLC
CHANGE IN CLOSURE DATE OF REGISTER.
DANGSUGAR PLC announces a change in the date of Closure of Register from March 24, 2008 to March 28, 2008
while the Payment Date is April 11, 2008. This superceeds the ealier information of yesterday March 17, 2008.

I promised to send some info on MSc Scholarships for those interested. This is attached herewith. Sorry for sending this late.

@invisible.
If I may reply your post. There is no big deal in selling your shares once you know what you are doing. If you look closely you will realise that this is a very smart way to make gains from the daily fluntuations in the market. As an example, I bought WAPIC at 6.2 about 3 months ago, even though I never planned to sell so early, but a 73% growth in 3 months is unprecedented! (without any special change in fundamentals) and I am now placing a sell order on Monday, and would then use my money to buy other stocks presently trading at a premium. I remember some analysts predicted Dangote sugr will reach 80 last year when it was around 56, only for it to fall to 36. Even though the stock is great, yet people who sold at 56 then would have increased their units by buying later at 36.
However, though short term trading may look lucrative, but it pays to stick to stocks with good fundamentals. This approach is called "TECHNO-FUNDAMENTAL TRADING"   .  Imagine some people sold Zenith at 36 to buy NASCON at 22. Someone even liquidated his whole shares to buy the heavily hyped TRANSCORP IPO. Wisdom that we all need is to stick to fundamentals and not to follow the general trends.

[i]Hi guys, I like your incisive analysis of the stock market, you guys have given some of us the impetus to go ahead and invest in the market.
I have a poser for you guys.I just started buying stocks last month,and I have the following stocks,5000 units of FCMB,5000 units of PHB,20000 units of Japaul,and 50000 units of Bagco. The value of all this stocks is just about 500,000 Naira.My poser is this,is it possible that I can trade with this shares and be able to make Two million Naira by June 2008?

I want to go do my Master's degree in September 2008 and it is going to cost me approximately Two mill, and I feel that the stock market should be able to pay for it.

I also intend investing another 300,000 in the next couple of months in the stock market.

So guys,is this feasible or just wishful thinking on my part?



@ Wola, I really appreciate your drive man and would like to check if I could help you with some scholarship info. Pls tell me the course u read, and your BSc grade.
I was exactly in your shoes some 3 years ago, but I was able to get scholarship for my MSc programme. I started trading in the NSE with part of my scholarship money, and the rest today is history. I am willing to be of help to other Nigerians that need MSc scholarship info.

Selling Oceanic to plunge into insurance?, abeg softly o. I am learning that one should be wary of selling his blue-chips anyhow. Stocks such as Dangote, Zenith, and Oceanic should be sold only when they are at unbelieveable premium, and it is wise to get in as quick as possible. The bottom line is that, don't sell a fundamentally strong stock because u want o go with the hype. I almost sold all my Zenith to buy heavily into NASCON. Abeg we all need wisdom with NSE

I am so sorry!. I mistook Musiliu Smith for OGA TAFA BALOGUN. Eh! why could I have done that?. Now that my worries are cleared I will go the way of Skye Shelter.

skye shelter fund should do well in the long term. 80% of the profits will be paid as dividends. My problem with Skye bank is their Chairman, Musiliu Smith. I just feel it's not morally right to put him there after all his "stunts" as the IG. .

, and the BIG NEWS!.

Zenith has declared a 1 for 4 bonus and dividend of 100K.
Closure date: 20/08/2007. Payment date : 22/08/2007.

@ademolu,I would imagine that it's "normal" to sell a stock and see it later increase in worth. It's better to look for other stocks that are selling at a discount. Zenith at 63 is not the best offer in the NSE. There are some stocks that look cheap at the moment. May and Baker is not bad, on the long time, and some insurance stocks (such as Crusader and Cornerstone - whose end years are close by).

@iwerebor,

I think insurance stocks look relatively cheap at the moment. Crusader and MBenefit are quite OK at present prices.

Hey house, Access bank PO is out at 14.9. For me the decision to invest is not as easy as buying the PO of First Bank. Though the offer is at a discount of 21%, I personally have some issues. However, I would think it's better to study the prospectus first, before making further comments.

@windywndy,

I just sent u a mail. Pls, I need the Goldlink forms

Thanks

since the purpose of this thread is to find out about the public placement. I'll suggest we upload the form on this page. Anyways, my email is shen_chui@yahoo.com.

Thanks

I think insurance stocks are kinda affordable now. They have shed some weights, and look good for entry.

I wonder if anyone has read the CSL research report on proshare: http://www.proshareng.com/myproshare/portal_articles.php?id=1055
that Zenith is presently overvalued at N50. I find it difficult to agree with their explanation, because I believe it's worth is even going to increase based on speculations of bonus and scrip issue. My stockbroker also advised me against selling, but I wonder if I am being sentimental. What's your take on this?

Also read that Access offer will be 4.7 billion ordinary shares at N14.90. That depends on NSE approval though.

@windywendy, pls how much is it to open with FSDH?.

Access Bank Plc joins the race

Shareholders of Access Bank Plc on Tuesday unanimously endorsed the proposed N100bn public offer of ordinary shares of the bank.

http://www.proshareng.com/myproshare/portal_articles.php?id=1073

Honestly, all these posts about stockbrokers is just too unfortunate. It appears quite rife to me. My experience is also pretty funny. I once read about someone praising BGL, and I smiled. I recently opened an account with BGL, and after 2 months I am already considering moving to Zenith zecurities, or at least opening a parallel acct until I am ready to sell off my stocks with them. I used to think 1 million naira is a lot of money, at least by Nigerian standard, until I witnessed pure rebuff from a BGL officer. She never replied her mails, even to talk phone was a big problem for her. After some complaints, I was informed that she is a front desk staff currently being trained to become a stockbroker, and the idea was that she would start her "traineeship" with my money, poor me!.

The bottomline is that one should always raise alarm when the customer service is too poor, because it could be that the problem is actually with the person assigned to you and not the company itself. Besides, one deserves good treatment no matter the amount being invested.

@Tmoni and SavvyLanre

Many thanks!.

Hi all, pls I would like to know how much Zenith securities charges on their equity account?. (e.g BGL charges 1% on total acct worth)

Also, I am yet to know the best means of transferring money to nija from outside the country. Western Union is not it at all. I once tried bank transfer too, but the guys at the receiving end ripped me off by converting at a ridiculously low rate. Can someone pls share his/her experience on how best to transfer money into stock acct in nija

the best way to monitor shares moving average (live, during trading) is by monitoring it on www.nigerianstockexchange.com. You can view the trading live, from 11:00hrs to 13:00hrs. During this time, you can have an idea of stocks that will gain/loose at the end of the trading session. It is live and direct from the trading floor.

From the NSE website, go to quoted comapanies, and search by company.

Hope this helps.

Pls don't just buy any stock!. read this about Nig wire and cables Plc

AS the bulls continued its run in the equities sector of the Nigerian Stock Exchange, investors have been advised to watch how they invest in the company as it is now in liquidation.

Specifically, the Chairman Audit Committee of the company, Chief Aderemi Oyepeju told journalists that the company has been placed under receivership by Wema Bank and Union Bank for owing the banks about N200 million.

According to him, the company's share price has risen alongside other companies' prices this year, which is totally out of tune with what should be obtainable since the company is no longer producing and would not give any return on investment to its shareholders.

Quoted in engineering technology sub-sector on the Nigerian Stock Exchange, the company has not paid dividend since 2002 when it paid 15 kobo per shares, and the last bonus issue was done in 1998. Earnings per share as at yesterday stood at 10.10 while per earnings ratio stood at 48.50.

So far this year, the company's share price has risen from a low 70 kobo to N5.10 before it fell to N4.85. It closed on bid yesterday, and the last day business that was done on the stock was May 7, 2007 when 351,475 units changed hands.

Oyepeju who is also the Vice-Chairman of Ibadan zone shareholders association, covering all the states in the South West, noted that the Nigerian Stock Exchange would be informed about the development immediately to save investors from enormously putting their money in a moribund company.

Oyepeju said: "The company has been under lock and key since 12 months ago. Wema Bank and Union Bank have placed the company under receivership and there is now what is called caveat Emptor, buyers beware, on the company."

He continued: "The Managing Director said he has resigned. What we are doing is in the interest of investor and national interest."

On whether shareholders have informed the Stock Exchange and the Securities and Exchange Commission (SEC), about what is going on in the company, Oyepeju said: "We have not been able to reach the stock exchange but we will write to them to inform them.

"The share price is rising and the stock is suppose to be on suspension because of the state of the company. I wish the company should come to the capital market to raise funds to repay its loans and kick-start its operations.

The last 5 fianancials (PATs) are 17.83bN, 13.23bN, 11.48bN, 11.01bN,and 4.78bN. The prices have also known to be consistently stable, making it good for investors to buy in at any time (this is achieved by aways marking down for dividends). The FBN share rose to 72.76N last year, but thanks to the 1 for 1 bonus that marked it down to 36N (if not for that, u and i may have to buy this PO at 55N or something).

In terms of fundamentals, FBN is great. It's also well respected. We all know that, its wholly owned subsidiary, FBN Bank (UK) Limited, recently signed a USD42 million syndicated term loan facility with a consortium of banks led by Standard Bank Plc which was substantially oversubscribed by 68 percent from the initial USD25 million earlier planned for. It also with HSBC on a technical partnership which would allow the bank to participate in the management of the country’s foreign reserves (what most banks are now jostling for).

Anyways, these are my own little contributions. Let me leave the floor to the GURUs

, and it's cheap @N33. At least, Mr Elumelu's "bumper offer" was sold @35

Hey!,

First bank PO opens on May 14.

"Parties to the N100 billion hybrids offer of First Bank of Nigeria Plc met yesterday to endorse the documents relating to the offer, while shareholders unanimously approved the directors' proposition to raise the additional fund.

The bank is offering for subscription 1.624 billion ordinary shares of 50 kobo each at N33 per share, and a rights issue of 1,497 billion ordinary shares of 50 kobo at N31 per share.

Application for the hybrid offer opens on Monday May 14 and closes on Thursday June 21, 2007.

Packaged by FBN Capital and IBTC Chartered Bank Plc as joint issuing houses, the offer is being undertaken to enable the bank enhance its branch network and working capital, while also enhancing the bank's competitive edge.

Specifically, according to the prospectus, the proceeds of the offer would be used to deepen the bank's retail infrastructure in the country through the expansion of branch network, strengthen subsidiaries' capital base to support business growth, expand First Bank's capital resources to selectively exploit value creation opportunities in the regional markets and elsewhere (particularly Africa, Middle East and Asia).

Besides, part of the proceeds would be used to support enlarged operations and broaden its relationship management capabilities.

Specifically, increase in working capital would get 28.3 per cent or N27.14 billion, while expansion of branch network gulps 22.8 per cent or N21.93 billion, and mordenisation of branch network gets 12.7 per cent or N12.22 billion.

Increase in equity investment in subsidiaries like FBN Bank (UK) Limited, and FBN Mortgages Limited gets N11 billion or 11.5 per cent among others.

Already, an application has been made to the Nigerian Stock Exchange for the admission to its Daily Official List, the offer of 3.12 billion ordinary shares representing the offer for subscription of 1.62 billion ordinary shares and offer by way of rights to existing shareholders of 1.496 billion ordinary shares of 50 kobo each.

According to the prospectus, a maximum of 649.7 million shares representing 40 per cent of the offer size shall be preferentially allotted to high networth individuals and institutional investors. - Guardian May 8"

The gurus should tell us what they feel about the offer.

In my own opinion, I will go for it for the following reasons. The bank has very strong fundamentals (PAT in 2006 = 17.83bN), good management, solid branch networks. And for the investors, First Bank possesses an amazing dividend and bonus paying history. Paid Dividend N1 and bonus 1 for 1 in 2006, Dividend N1.6 and bonus 1 for 4 in 2005, Dividend N1.55 and bonus 1 for 8 in 2004. The history dates back to 2001.

@frank

the link was only valid till yesterday. You can check the story @ proshare.

The market is beginning to look bearish, guess it's a good time to buy some nice chunks of equities from pessimistic investors. The basic rule still remains: "buy from the pessimists and sell to the optimists"

Govt raises minimum fund portfolios for capital market (http://www.guardiannewsngr.com/news/article02)


A NEW minimum capital base was yesterday approved by the Federal Government for all capital market operators in the country, with December 31, 2008 as deadline.

The Minister of Finance, Mrs. Esther Nenadi Usman who announced the new minimum capital requirements, also approved a reduction in transaction costs in the capital market by about 40 per cent.

By the approvals, average equities transaction cost in the primary market, which currently stands at 6.92 per cent, has been reduced to 4.32 per cent, while transaction cost on bonds has been reduced from 7.03 per cent to 4.79 per cent.

In the secondary market, total transaction costs on equities have also been slashed.

For instance, equities transaction cost on the buy side has been reduced from 4.07 per cent to 2.36 per cent, while the commission on the sales is now 2.65 per cent from the earlier cost of 4.12 per cent. This took effect from yesterday.

Besides, underwriting of all offers has now been made mandatory and all Public Offers and Right Issues will henceforth be 80 per cent underwritten.

This, according to SEC, is to reduce the incidence of under-subscription and ensure that the issuing houses and stockbrokers have higher stakes in the issues they bring to the market.

Igwe frank I also salute o! . I am in the take of Dangote hitting 70 and I see Zenith hitting the roof by June, once their full year acct is made public. Does anyone knows if any insurance Co is coming to the primary market soon?.

@naijafresh

correct man!. There's no point trying to analyse without convincing facts.

On the Transcorp issue, time will definitely tell. For those who have invested already, God might be giving you another chance to SELL NOW or HOLD FOR THE FUTURE (remember you r back to the Status Quo, an "opportunity" that is seldom enjoyed by other stocks).

So decide now and believe in your judgement!

, and shedding some lights on the Transcorp stock.

"The stock has been placed on suspension today. Information from the floor maintained that The technical suspension on TRANSCORP PLC was lifted in error due to the over-zealousness of a member of staff. It was said that the two weeks practice of lifting suspension does not apply to Initial Public Offer for Subscription (IPOS) and the technical suspension will be lifted on the day of listing, after the REGISTRAR has submitted the range of analysis and basis of allotment has been approved by the BOARD and SEC.", source Meristem