The Asset Management Corporation of Nigeria (AMCON) saturday announced Skye Bank Plc as the preferred bidder for Mainstreet Bank Limited.

Also, the corporation in a statement signed by its Head, Corporate Communications Strategy and Research, Mr. Kayode Lambo announced Cedar One Investment Partners Limited as the first reserve bidder and Fidelity Bank Plc as the second reserve bidder for the acquisition of the entire issued and fully paid up ordinary shares of Mainstreet Bank Limited.

This may imply that Skye Bank may resort to raising funds from the capital market through a public offer or a rights issue.

Skye Bank shares currently trade at 2.88NGN on the floor of the Nigerian Stock Exchange. I reckon that with this news, shares of Skype Bank would experience a bullish run this week.

ok.

let's see how this plays out.

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Guys that rushed Fidelity shares on Friday would be pissed on wednesday when the market opens!

davide470:
Guys that rushed Fidelity shares on Friday would be pissed on wednesday when the market opens!

why do you think so?

MarvellousGod:
why do you think so?

Well, they thought fidelity gonna get the bank. Skye is going up max. 15% increase before friday.

davide470:
Well, they thought fidelity gonna get the bank. Skye is going up max. 15% increase before friday.

hmmm, alright. .... So activities still go on in the capital market despite pub hos?? I listened to market report today, top gainers, losers etc... was thinking market will resume tomorrow at same prices it closed on Friday?

pls hw cn I buy Skye
bank shares. ? pls somebody help

Kennyfancy:
pls hw cn I buy Skye
bank shares. ? pls somebody help

Do you have an account with any stockbroking firm?? If yes, just give them a mandate provided there's enough money in your account. ..

If no, you have to have an account with an accredited stockbroking firm, they're the only people who can trade for ya..

MarvellousGod:
hmmm, alright. .... So activities still go on in the capital market despite pub hos?? I listened to market report today, top gainers, losers etc... was thinking market will resume tomorrow at same prices it closed on Friday?

No, no activity during hols. The report you listened to were Friday's own.

Kennyfancy:
pls hw cn I buy Skye
bank shares. ? pls somebody help

will you even see it to buy?

davide470:
will you even see it to buy?

lol, nobody will be willing to sel

davide470:
No, no activity during hols. The report you listened to were Friday's own.

eehhhee, my confusion has been cleared

davide470:
will you even see it to buy?

is it always that difficult?

destante:
is it always that difficult?

Not quite.. The market is driven by fundamentals and sentiments. Skye got the bid and that would impact on their Top and bottom line and as such, the rush to get the shares.

If you have Skye shares and you see it going up, would you sell it? Note, there's always a resistance level and when the price get to that point, profit taking commences and it starts reducing.

davide470:
Not quite.. The market is driven by fundamentals and sentiments. Skye got the bid and that would impact on their Top and bottom line and as such, the rush to get the shares.

If you have Skye shares and you see it going up, would you sell it? Note, there's always a resistance level and when the price get to that point, profit taking commences and it starts reducing.

I see. the pressure as a result of their recent acquisition. hmm. thanks

davide470:
will you even see it to buy?

skye bank emerged among the top trades today. .. not surprised

destante:
I see. the pressure as a result of their recent acquisition. hmm. thanks

You are welcome. It gained 9% at the start of trading today, but closed at a 4% increase at the end.

MarvellousGod:
skye bank emerged among the top trades today. .. not surprised

Yeah, but a lot of profit taking happened today.

davide470:
You are welcome. It gained 9% at the start of trading today, but closed at a 4% increase at the end.

the entire market? or the price of skyes shares.

destante:
the entire market? or the price of skyes shares.

Just Skye. ASI Index returned negative, shed 0.26% and only d Oil/Gas sector gained.

davide470:
Just Skye. ASI Index returned negative, shed 0.26% and only d Oil/Gas sector gained.

thanks for the info Jes that I will use it for nothing presently

MarvellousGod:
Do you have an account with any stockbroking firm?? If yes, just give them a mandate provided there's enough money in your account. ..

If no, you have to have an account with an accredited stockbroking firm, they're the only people who can trade for ya..

pls cn u give me list of stock broaker in nigeria, pls help

Kennyfancy:
pls cn u give me list of stock broaker in nigeria, pls help

Don't have a list but you get that from NSE website. .Alternatively, check out www.gti.com.ng or www.meritrade.com