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Re: Nigerian Stock Exchange Market Pick Alerts by Buzochi: 12:06pm On Feb 19 |
International Breweries Plc has approved the raising of emergency additional capital after posting losses since 2018. After publishing its financials statement for 2023, the company shareholders called an extraordinary emergency meeting held on February 12, 2024, and approved capital raise through a right issue. THE WHISTLER reported that International Breweries, makers of Trophy Lager, Hero Larger, Grand Malt, and Eagle Stout did not make a profit during the period from 2018 to 2023, thereby accumulating N156.07bn loss over the period. An analysis showed that the company recorded full year loss of N3.93bn in 2018, N36.16bn in 2019; N 18.5bn in 2020; N16.42bn in 2021; N21.6bn in 2022 and in 2023, the company lost N59.46bn. Aside from the nightmare imposed on the management by losses, the brewery is almost having liquidity challenge after its cash and cash equivalent dropped by N37.4bn from N66.8bn in 2022 to N29.4bn by the end of 2023. The situation has mounted pressure on the company’s executive management led by Carlos Coutino who was appointed managing director in 2022 following the resignation of Hugo Rocha. International Breweries has issued and fully paid capital of 26,862,069,000 ordinary shares of 50 kobo each. In the new development, International Breweries shareholders authorized the company to “Raise additional equity capital by way of a rights issue to the existing shareholders of the Company on such terms and conditions (including but not limited to the amount of the Rights Issue, price of the Rights Issue, rights ratio, and number of shares to be provisionally allotted) as shall be determined by the Directors.” A rights issue is one way for a cash-strapped company to raise capital for several projects. The shareholders also approved to discount the company’s shares from 50 kobo to 2 kobo. The shareholders said, “That the nominal value of all the existing ordinary shares in the Company’s share capital be and is hereby sub-divided from fifty Kobo (N0.50) each to two Kobo (N0.02) each and all future ordinary shares in the Company’s share capital, including all new ordinary shares that are to be created pursuant to the increase of the Company’s share capital, shall have a nominal value of two Kobo (N0.02) each.” https://thewhistler.ng/after-six-years-of-posting-losses-international-breweries-shareholders-meet-to-raise-additional-capital/ |
Re: Nigerian Stock Exchange Market Pick Alerts by USAfall2024: 2:40pm On Feb 19 |
ASI sheds 3.15% today with big weights like MTN & DangCement closing on full offer . Nestle & Seplat were also on massive red but no official movement cos of lack of liquidity. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 3:34pm On Feb 19 |
Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 3:43pm On Feb 19 |
BuchyD:...today entered as a "red" Monday as you anticipated 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:44pm On Feb 19 |
PETERiCHY: Based on EXPERIENCE some of us QUIETLY CONVERTED our PAPER PROFIT to CASH by last week of January when the ovation was loudest and made the ABOVE post on Feb 7th.Today the forum has turned GRAVEYRAD. Well for those looking for SAVE HAVEN to HIDE their LOOT. CADBURY is there for your taking. It will definitely OUTPERFORM both DangSugar & Nascon put together on the LONG RUN. BARGAIN HUNTERS TAKE NOTE! *ThE OcToPuS* 3 Likes
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Re: Nigerian Stock Exchange Market Pick Alerts by BuchyD: 5:15pm On Feb 19 |
BullBearMkt: True..... That's why the Red was in inverted comma("Red". As it turned out..18 gainers, 38 Losers today. We move |
Re: Nigerian Stock Exchange Market Pick Alerts by Mfunkynation(m): 6:39pm On Feb 19 |
PETERiCHY:so you want us to help push the keke down the hill for it to start so that you can excape! dey dia with your loot, we no go start am... Na dividend we dey find with our loot this period! 7 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by ojeysky(m): 7:10pm On Feb 19 |
Buzochi: Wait o does this not signal heavy dilution?? O'boy 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 8:43pm On Feb 19 |
PETERiCHY: Glorifying yourself with claims that cannot be verified. Why do you feel a need to look like a genius to people in a faceless forum. People you will most probably never meet and who really don't give an "F" who you are. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 8:47pm On Feb 19 |
Does it really make any sense converting dollars to invest in stocks at this rate? 5 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Ballzproblem2: 9:18pm On Feb 19 |
Agbalowomeri:people investing in Nigeria stock exchange are just wasting their time with the devaluation of naira , they're better of just buying Dollars and keeping it. If not go an learn forex trading EOD. |
Re: Nigerian Stock Exchange Market Pick Alerts by Zagee: 9:37pm On Feb 19 |
Agbalowomeri: It's a trick question. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 10:13pm On Feb 19 |
PETERiCHY: |
Re: Nigerian Stock Exchange Market Pick Alerts by stcool(m): 11:07pm On Feb 19 |
We have a big problem at hand...buying & holding $ is key until Emilokan exits!!! 1 Like 1 Share
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Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 11:18pm On Feb 19 |
stcool: It's well |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 11:45pm On Feb 19 |
Mfunkynation: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by rmx: 6:09am On Feb 20 |
Agbalowomeri: Loads of uncertainties in the economy , you can begin to feel the desperation and helplessness . Does not look like naira has bottomed out yet , more pain is definitely coming Exited the markets January . Am back in dollars with my gain awaiting opportunities in other sectors , principal deployed to real estate . I wish dividend people well 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 7:48am On Feb 20 |
Many Nigerians can no longer afford beer -NB CEO https://punchng.com/many-nigerians-can-no-longer-afford-beer-nb-ceo/?fbclid=IwAR2P_ozqHtbwpCuPR3B6VUw4M-k-y66HCh40FwKR3k-fwsrmUIdjfHk7B2Q |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 8:01am On Feb 20 |
FG Vows To Avert Fuel Scarcity As Talks With Oil Marketers & NARTO Reach Day 2 https://www.channelstv.com/2024/02/19/fg-narto-others-fail-to-reach-agreement/ |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 8:03am On Feb 20 |
rmx: Yeah looks like real estate is relatively undervalued compared to naira depreciation 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Pifebhor(f): 8:13am On Feb 20 |
Please do you think dollar to naira will get to 2500 before 2024 ends and do you advice one to go for the Dollar investment that most banks carry out?. Also how can I invest in real estate? rmx: |
Re: Nigerian Stock Exchange Market Pick Alerts by Boshins: 9:39am On Feb 20 |
Ballzproblem2:stop posting this nonsense on this forum...we r not babies here.... |
Re: Nigerian Stock Exchange Market Pick Alerts by BlissGod: 9:53am On Feb 20 |
There is an economic crisis in Nigeria and the worst thing you're advising here is just putting fears on people with naira, Tinubu is clearly clueless about governance. But we don't need panic here please, let's be constructive with reasons, some of us are beginners in this trading stuff. Please give us reasons feasible reasons we should hold on for now. I hope you understand my point. rmx: |
Re: Nigerian Stock Exchange Market Pick Alerts by STOjo: 9:53am On Feb 20 |
As if people are not losing money in forex. Many have been sent back to the village because of forex. Maybe you should advise people to go for betnaija Ballzproblem2: 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Jonwest: 10:20am On Feb 20 |
Update quote author=vacanci post=124534779] From 770 to 860 is 12%. meaning if you brought in $1000 and you want to take it back as it is, you have lost 12%. Now the question is, what was your profit in the NGX? Your statement is only valid if you have neither lost nor gained in the NGX. If you have lost in the NGX, then your overall loss is more than 12% If you have gained in the NGX, then your 12% loss claimed is not valid. example, let's convert the $1000 at 770, that will give us N770,000 N770,000 invested in the NGX must have been during this bull run going by the rate. so lets assume you had 20% (excluding charges). This gives N924,000. N924,000 converted back to $ @860 gives $1,074 So your asertion is not right pls [/quote] |
Re: Nigerian Stock Exchange Market Pick Alerts by kolaish(m): 10:34am On Feb 20 |
Boshins:With due respect, stop quoting someone's post as non.sen.se especially when it is an advice. It is not a good and polite way to reply one's post, you can bring your advice/suggestions politely to counter what he/she has said. Though a faceless forum, but let's respect each others view. 6 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by yMcy56: 10:36am On Feb 20 |
DANGSUGAR From observation, it seems Sugar is already pricing in the result, after release of result, it might not have much impact on the share price again.... NASCON also maintaining share price range because insiders already seen the result.... We see how it goes.... Meanwhile, some insider activities in TRANSCORP earlier.......cleared up to 14.35 or so..........but selling at 13.50 range so far....... *Cleared up to 14.70 not 14.35* Generally, market looks down........no news, no result, no updates yet.......once results starts coming in, we may experience a better outlook......just an opinion. Some results are expected by Feb ending..... 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Boshins: 10:40am On Feb 20 |
kolaish:what is d advice? That I'm here wasting my time is d advice? Oga, park well... |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 10:43am On Feb 20 |
yMcy56: Happy Nigeria... We just hope results can start flowing in with some goodies attached |
Re: Nigerian Stock Exchange Market Pick Alerts by kolaish(m): 10:48am On Feb 20 |
Boshins:Thank you for the bolded. God bless you. But one thing I like you to know is that there is little sense in every non.sen.se. It now depends on how you view it. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by kolaish(m): 11:01am On Feb 20 |
As for the naira/dollar discussion, it is relative and has much to do with where you are coming from, and your current position. For example, from 1st January 2023 till 30 January 2024, my portfolio in stocks appreciated by 384%. During same period (January 2023 - 30 January 2024) the dollar appreciated by less than 200% (from around N700/$ to N1,500/$). So, with this narrative, I am better with my stock investment than being on dollar holding. Moving forward, the dollar is now selling @ N1,600/$, and the highest price I see the dollar in January 2025 is N3,000/$, which is less than 100% appreciation. The crucial question to ask is, if one can make more than 100% appreciation in its portfolio between now and January 2025. As for me, I think I can make it. So, I don't need any dollar investment for now. * dollar rate quoted is more of black market rate 12 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 11:01am On Feb 20 |
DIng! |
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