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Nairaland Forum / Nairaland / General / Investment / Nigerian Stock Exchange Market Pick Alerts (11454528 Views)
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Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:04pm On May 10, 2016 |
I jus entered unilever http://thenationonlineng.net/shareholders-block-unilevers-bid-overriding-stake-unilever-nigeria/ Nigerian shareholders largely shunned a N43 billion share-acquisition bid by Unilever Overseas Holdings, United Kingdom aimed at acquiring a quarter of Unilever Nigeria’s shares to increase the multinational’s majority equity stake in the Nigerian subsidiary to 75 per cent. The latest audit of Unilever Nigeria, scheduled to be presented to the company’s general meeting on May 12, indicated that Unilever UK’s total shareholdings in Unilever Nigeria only increased by 8.49 per cent from 50.04 per cent to 58.53 per cent after the conclusion of acquisition bid. Besides, Unilever UK had resorted to mopping up the shares of Unilever Nigeria through the Nigerian Stock Exchange (NSE). Unilever UK now holds 58.53 per cent, 16.47 per cent short of the 75 per cent, through two holding companies-Unilever Overseas Holdings BV Holland, which holds 50.04 per cent and Unilever Overseas Holdings BV, which holds 8.49 per cent. Nigerian investors retain 41.47 per cent shareholdings in Unilever Nigeria. “The total shareholding of Unilever Overseas Holdings B.V. increased to 321,395,410 following the Tender Offer to other Shareholders of Unilever Nigeria Plc and open market purchases made during closed periods in 2015,” according to the audit. The Nation’s check indicated that Unilever UK holds a total of 2.214 billion ordinary shares of 50 kobo each out of Unilever Nigeria’s total issued shares of 3.78 billion ordinary shares of 50 kobo each. A breakdown showed that Unilever Overseas Holdings BV Holland holds 1.89 billion shares. Under the extant laws, a 75 per cent equity stake would have given Unilever UK the overriding majority equity stake to undertake several strategic transactions including mergers, acquisitions, new capital issues and other major corporate changes with little or less resistance from Nigerian shareholders. A shareholders’ leader who spoke to The Nation said they mobilised against the acquisition bid because Nigerian shareholders felt the bid was not fair and in the best interest of Nigeria. The shareholders’ leader cited shareholders’ resistance to similar move by GlaxoSmithKline UK, which was forced to abandon bid to acquire overriding majority equity stakes in GlaxoSmithKline Consumer Nigeria by acquiring shares held by minority Nigerian shareholders. Unilever Overseas Holdings, the United kingdom-based foreign core investor in Unilever Nigeria, had in first half of 2015 sought to increase its majority equity stake in the Nigerian subsidiary from 50 per cent to 75 per cent, citing long-term strategic importance of Unilever Nigeria to its global business. In a transaction initially valued at about N43 billion or £144.5 million, Unilever Overseas Holdings sought to increase its equity stake in the Nigerian company from 50.04 per cent up to a maximum of 75 per cent by buying additional shares from minority shareholders. The tender offer sought to acquire about 942.42 million ordinary shares in Unilever Nigeria at a price of N45.50 per share in cash. In a statement signed by Richard Hazell, Director, Unilever Overseas Holdings B.V, Unilever had said it was making the additional share acquisition as part of long-term strategic plan by the conglomerate as it believes that Nigeria offers significant growth potential. “The Unilever Group has had a major presence in Nigeria for many years and continues to believe that the country offers significant growth potential. This makes Nigeria a strategic long term investment priority for Unilever Overseas. Globally, the Unilever Group is focused on investing in the foods, household and personal care categories and the long heritage and great brands of Unilever Nigeria in these categories in Nigeria make it attractive for Unilever Overseas to increase its holding in Unilever Nigeria, whilst maintaining its stock exchange listing,” Unilever stated in the statement enclosed in the tender offer. |
Re: Nigerian Stock Exchange Market Pick Alerts by Godisfaithful: 1:05pm On May 10, 2016 |
Re: Nigerian Stock Exchange Market Pick Alerts by nija4us: 1:08pm On May 10, 2016 |
is it good to buy skyebank at 1.06? |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:09pm On May 10, 2016 |
@unilever post, they planned to buy it at 44.50naira 2.) They have already started mopping the shares from the floor even b4 shareholders refused the deal, so they went from 50% to 58% This meeting was held April 27th or so. |
Re: Nigerian Stock Exchange Market Pick Alerts by Intendy: 1:18pm On May 10, 2016 |
NuttyChoky:yes sir |
Re: Nigerian Stock Exchange Market Pick Alerts by RichYoungRuler(m): 1:20pm On May 10, 2016 |
mercylicious:Thanks for this info. |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 1:25pm On May 10, 2016 |
Why is UBA trading at 3.40 two weeks in a row?,break either support or resistance. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:28pm On May 10, 2016 |
Re: Nigerian Stock Exchange Market Pick Alerts by Intendy: 1:30pm On May 10, 2016 |
Coolcash1: thanks for your answer. my reason is cause of some new investors who might think everything is rosy on the floor. you might lose your money within a twinkle of an eye. for a new speculor who bought FO @ 246 and seeing it @ 210 to know the next action to take is a problem. my ogas once you give expo of a stock try quote the price on that day to totally vindicate yourself eg hope u guys are watching FO @(190) cause some read news and not the date. my opinion though. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:32pm On May 10, 2016 |
RichYoungRuler: Plz due diligence required. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by jp130(m): 1:36pm On May 10, 2016 |
plz sis mercy, cn i buy n sell in d same day using morgan itrade? |
Re: Nigerian Stock Exchange Market Pick Alerts by sirflav: 1:37pm On May 10, 2016 |
jp130:Sir you can buy and sell on the same day with Morgan Capital |
Re: Nigerian Stock Exchange Market Pick Alerts by Mfunkynation(m): 1:46pm On May 10, 2016 |
angelo82:am tired oooo... was planning to exit last week... |
Re: Nigerian Stock Exchange Market Pick Alerts by RichYoungRuler(m): 1:47pm On May 10, 2016 |
mercylicious:Thanks once again, I'm responsible for whatever decision I make,whatever d outcome. |
Re: Nigerian Stock Exchange Market Pick Alerts by jp130(m): 1:56pm On May 10, 2016 |
pple seams to b buying dis livestock gently. hmmm sir Godisfaithful, plz cn i buy n sell d same day for morgan itrade? |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 2:07pm On May 10, 2016 |
jp130: Yes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 2:08pm On May 10, 2016 |
jp130: Na for it to begin fly like dangote flour we dey wait for now......accumulations completed.........volume/price watching mode 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 2:12pm On May 10, 2016 |
angelo82: that 3.40 support foundation is yet to set fully. #WatchList |
Re: Nigerian Stock Exchange Market Pick Alerts by jp130(m): 2:12pm On May 10, 2016 |
mercylicious:tnx for dis reply. wrk go start tomoro |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 2:13pm On May 10, 2016 |
''What character traits define world-class traders? Answer: Self-Awareness, they know themselves, their strong points and weaknesses. '' - PBrandt |
Re: Nigerian Stock Exchange Market Pick Alerts by lancee(m): 2:14pm On May 10, 2016 |
mercylicious: They re trying to take adv of the economy situation , good moves by shareholders .. yeye pple , will they even allow that in their own Mkt ? |
Re: Nigerian Stock Exchange Market Pick Alerts by Godisfaithful: 2:23pm On May 10, 2016 |
jp130: Sir, i guess you can buy and sell the same day when using Morgan ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by NuttyChoky(m): 2:34pm On May 10, 2016 |
Today was a good day |
Re: Nigerian Stock Exchange Market Pick Alerts by sirflav: 2:45pm On May 10, 2016 |
Re: Nigerian Stock Exchange Market Pick Alerts by manie(m): 3:05pm On May 10, 2016 |
mercylicious: While Nigerian investors were busy reducing their holdings, these Foreign Direct Investors are thinking of increasing their holdings for strategic purposes. Thank God they lost out with their bid in GSK and Unilever. Nigerian investors will not want a repeat of what happened with Nigerian Bottling Companies, whereby the core foreign investors delisted the company from the Nigeria Stock Exchange after acquiring 75% of the company. But the company did not deem it fit to exit the Nigerian consumer market, Nigeria Bottling Company products like Coca cola, Fanta, Sprite etc are still in top demand in the Nigerian market but Nigerian investors are not good enough to invest in the company. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by manie(m): 3:10pm On May 10, 2016 |
manie: There is something about the Nigerian economy and market, which the average Nigerian investor does not see. I see these guys at GSK and Unilever, coming up with another trick in order to corner the wealth and future growth of these companies through through the raising of foreign denomination reversible corporate bonds. That was the strategy used by the foreign investors of Cadbury when they wanted increase their holdings about 18 years ago. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by manie(m): 3:17pm On May 10, 2016 |
http://newspeakonline.com/efcc-arrests-first-bank-executive-director-dauda-lawal-over-diezani-alison-maduekes-funds/ The Economic and Financial Crimes Commission (EFCC) has arrested Dauda Lawal, First Bank’s Executive Director, Public Sector over $55million allegedly received from former Minister of Petroleum, Diezani Alison Madueke, Sahara Reporters reports. |
Re: Nigerian Stock Exchange Market Pick Alerts by manie(m): 3:19pm On May 10, 2016 |
manie: https://www.nairaland.com/3096925/efcc-arrest-first-banks-executive |
Re: Nigerian Stock Exchange Market Pick Alerts by donmarshia(m): 3:29pm On May 10, 2016 |
manie: The bad news wey dey follow FBNH too much these days. If not one heavy impairment, it will be the arrest of an ED or a warning about profits or one Analyst downgrading their opinion of FBNH units to ''sell'' from ''Hold''. Any which way, I must sell at 3.80 at least. I am not ready to make any loss here, and after selling, I think I am done with them until they learn to manage their size. |
Re: Nigerian Stock Exchange Market Pick Alerts by edwardaigb: 3:49pm On May 10, 2016 |
I left fidelity bank tday at a lost, what a useless company. |
Re: Nigerian Stock Exchange Market Pick Alerts by otokx(m): 4:02pm On May 10, 2016 |
edwardaigb: My company is not useless. 1 Like |
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