agisky1975:
can't open it, but wats the implication please

For other companies, I would have expected the market to decisively punish this stock.
One of the reasons it hung in the 40s for ages.
But we are dealing with a MAFIA that creates his own rules. If he wishes to avoid massive dilution he knows the buttons to deal.
We have to see how the shares behave
this week.
I will appreciate other members opinion.

agisky1975:
can't open it, but wats the implication please

The management of Forte Oil Plc on Friday said it was perfecting arrangements to raise the sum of N20 billion from the equity market to support operation and drive diversification strategy.

Mr Julius Omodayo-Owotuga, Forte Oil Group Executive Director, Finance and Risk Management, said this at a news conference in Lagos.

Omodayo-Owotuga said that the proceeds realised from the fund raising exercise would be used for business expansion, enhancement of working capital and downstream businesses, among others.

He said that the company had already approached the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) for the equity raising exercise.

Omodayo-Owotuga said that the company had the mandate of the shareholders to raise N100 billion fresh capitals.

He stated that the company had already raised nine billion naira through debt capital in 2016, noting that, the capital raising would be in tranches as the need arises.

Omodayo-Owotuga added that the company had also identified five growth pillars aimed at driving revenues and enhanced value creation to all its stakeholders.

According to him, the company will focus on high margin businesses such as lubricants, Liquefied Petroleum Gas (LPG) and power to drive revenue generation.

He said that the company grew its lubricants business by 62 per cent in 2016, to 21 million litres from 13 million litres posted in 2015.

Omodayo-Owotuga added that a total of 90 million dollars was used for re-branding of the companies LPG facilities at Apapa, Abuja and Kano.

He said that the company would also strengthen its balance sheet through enhancement of working capital and efficient management of inventory and trade account receivables.

The executive director said that the company was looking at the right offshore asset to acquire at the right price to increase market share.

He said that the company would optimise distribution channels as well as partner with telecommunication firms and financial institutions for effective distribution of its services.

Omodayo-Owotuga stated that Forte Oil would focus on mergers and acquisitions within the industry to increase its downstream business.

He noted that downstream business contributed 89.9 per cent of the company’s revenue in 2016; power nine per cent, while upstream contributed 1.5 per cent.

Omodayo-Owotuga further said that downstream contributed 75 per cent in gross profit, power, 29 per cent and upstream, five per cent in 2016.

He said that the company would continue to strengthen its power business, noting that Geregu power capacity had increased to 435 mega watts from 138 mega watts in 2016

DeRuggedProf:
https://thenewsnigeria.com.ng/2017/06/forte-oil-to-raise-n20bn-fresh-capital/

agisky1975:
can't open it, but wats the implication please

DeRuggedProf:


For other companies, I would have expected the market to decisively punish this stock.
One of the reasons it hung in the 40s for ages.
But we are dealing with a MAFIA that creates his own rules. If he wishes to avoid massive dilution he knows the buttons to deal.
We have to see how the shares behave
this week.
I will appreciate other members opinion.

i know it will come to this fund raising, though they have been manage to declare profit but it reflected on their Qly reports struggling for cash since 2015 . if not because of current market sentiment i expect the stock at N25

i will still wait at that juction or i miss it

i will be surprise to see company like TOTAL come to raise cash

Revibe:
@fxuser What do u think of Livestock?

- weekly looks very decent !
- you know it wants to break out
- patience

[quote author=Coolcash1 post=57435488]

The management of Forte Oil Plc on Friday said it was perfecting arrangements to raise the sum of N20 billion from the equity market to support operation and drive diversification strategy.

Mr Julius Omodayo-Owotuga, Forte Oil Group Executive Director, Finance and Risk Management, said this at a news conference in Lagos.

Omodayo-Owotuga said that the proceeds realised from the fund raising exercise would be used for business expansion, enhancement of working capital and downstream businesses, among others.

He said that the company had already approached the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) for the equity raising exercise.

Omodayo-Owotuga said that the company had the mandate of the shareholders to raise N100 billion fresh capitals.

He stated that the company had already raised nine billion naira through debt capital in 2016, noting that, the capital raising would be in tranches . At the end what price ?

Willie2015:


Fx user.. Pls what are ur observations on Presco

very thinly traded for me boss
like dem beta glass.
Got strong fundamentals and will keep breaking out on thin vols

Cadillac15:


Very correct. I'm already 100% loaded here. Just waiting for the necessary announcement.

hope all food's not in one basket

Activities on the Nigerian Stock Exchange (NSE) remained on a bullish trend, last week as equities gained N659 billion. With exception of Tuesday, the Nigerian equity market traded on bullish momentum all through the week under review. As such, the bullish run has been pushed into the third week in a row. Week-on-week, the All Share Index (ASI) gained 1,905.05 absolute points, representing a growth of 6.07 per cent to close at 33,276.68 points. Similarly, the market capitalisation gained N659 billion, to close at N11.504 trillion. Analysts at Cordros Capital said, “Last week’s gain was well diversified across the sectors, the oil and gas stocks, perhaps on the news that the force majeure on the Forcados oil export terminal has been lifted rallied the most. Banking stocks on the other hand outperformed on report by Fitch Ratings acknowledging that liquidity pressures have eased for now, for its rated banks. “Interestingly, both the local and foreign institutional investors are active drivers of the recent .

Hi room, am totally new to the stock market and I would love to invest, but don't know the steps and if 50k would be deemed fit to start trading??

@bullbearmkt @fxuser

my ogas pls what is the technical saying as per UCAP

currentprice:






i know it will come to this fund raising, though they have been manage to declare profit but it reflected on their Qly reports struggling for cash since 2015 . if not because of current market sentiment i expect the stock at N25

i will still wait at that juction or i miss it

i will be surprise to see company like TOTAL come to raise cash

_{^{sorry mercy and angel, it just my opinion}}

If you are waitng for FO at N25 then give it another 5 Years, at least not everyone must have FO shares for now. You are looking at a company that is looking for more opportunities including acquisitions in the downstream sector. Bro, this is not O&O.

What you should be asking is @ what price would they raise money from the market. For me N120 comes to mind.

robobo:
@bullbearmkt @fxuser

my ogas pls what is the technical saying as per UCAP

-For couple of days bears and bulls are at loggerheads to dominate the stock
-Because of this, resistance is forcefully formed at 3.5
-A win for the bulls will cause uptrend continuation
-A win for the bear will drive price to visit previous support at 3.25 or less
-Daily and Weekly are bullish
-I love to siddon dey look when Bull and Bear are at war until a winner emerges

@bullbearmkt @fxuser pls what is technical saying on Vitafoam

stcool:


If you are waitng for FO at N25 then give it another 5 Years, at least not everyone must have FO shares for now. You are looking at a company that is looking for more opportunities including acquisitions in the downstream sector. Bro, this is notit O&O.

What you should be asking is @ what price would they raise money from the market. For me N120 comes to mind.

Exactly my feelings. The OTEDOLITIC OBFUSCATION.
Some stocks just operate in a universe of their own.
That company that bought 17% of FORTE shares targeting its Geregu business may definitely do some mop up.

BullBearMkt:

-For couple of days bears and bulls are at loggerheads to dominate the stock
-Because of this, resistance is forcefully formed at 3.5
-A win for the bulls will cause uptrend continuation
-A win for the bear will drive price to visit previous support at 3.25 or less
-Daily and Weekly are bullish
-I love to siddon dey look when Bull and Bear are at war until a winner emerges

Thank you boss appr8 ur response

nio68:
@bullbearmkt @fxuser pls what is technical saying on Vitafoam

-Daily and Weekly are bullish
-Price now resting on resistance at 3
-Doji formed last Friday, indicating indecision or neutral direction
-Today's trading critical to show direction to take from here

Why is most stock now on resistance level? Caution!!!

DeRuggedProf:


Exactly my feelings. The OTEDOLITIC OBFUSCATION.
Some stocks just operate in a universe of their own.
That company that bought 17% of FORTE shares targeting its Geregu business may definitely do some mop up.

Now you are seeing it...FORTE is like an egg to Otedola, that is what keeps him on the FORBES list . He also got good backing from his business friend Dangote. Be rest assured that before they raise a dime from the market, it is already over subscribed.

BullBearMkt:

-Daily and Weekly are bullish
-Price now resting on resistance at 3
-Doji formed last Friday, indicating indecision or neutral direction
-Today's trading critical to show direction to take from here

Why is most stock now on resistance level? Caution!!!

much appreciated !

stcool:


Now you are seeing it...FORTE is like an egg to Otedola, that is what keeps him on the FORBES list . He also got good backing from his business friend Dangote. Be rest assured that before they raise a dime from the market, it is already over subscribed.

...bros, I think we should be cautious. Dangote was there and Otedola saw the coy as an egg but price was driven from over 160 down to 40! Due to this news, I see a temporary pullback to value zone before investors can re-evaluate (personal opinion though)

BullBearMkt:

...bros, I think we should be cautious. Dangote was there and Otedola saw the coy as an egg but price was driven from over 160 down to 40! Due to this news, I see a temporary pullback to value zone before investors can re-evaluate (personal opinion though)

Ok...let's wait for the pull back to N40

stcool:


Now you are seeing it...FORTE is like an egg to Otedola, that is what keeps him on the FORBES list . He also got good backing from his business friend Dangote. Be rest assured that before they raise a dime from the market, it is already over subscribed.

bolded was the reason some investors kept average down from N250 uptil 40^'s

stcool:


Ok...let's wait for the pull back to N40

...No. The thing don pass N40 its around 55 now!

Can someone help me with the prices of:
1. Dangflour.
2. Forte oil.
3. Mobil.

Thanks.
City trade is still down.

currentprice:


bolded was the reason some investors kept average down from N250 till uptil 40^'s

^{different strokes for different folks}

It is always the retail investors that get slaughtered. The major players waited for the news to come out.

DeRuggedProf:
Can someone help me with the prices of:
1. Dangflour.
2. Forte oil.
3. Mobil.

Thanks.
City trade is still down.

Dan flour -5.20
Forte - 64.50
Mobil - 299.99

it seems fidelity dng gada mor strength dan fcmb

stcool:


Dan flour -5.20
Forte - 64.50
Mobil - 299.99

Currentky?

stcool:


Dan flour -5.20
Forte - 64.50
Mobil - 299.99

Currently?
Pls bid/ ask?

DeRuggedProf:


Currentky?

5.21
69.79
299.99

stcool:


5.21
69.79
299.99

Thx.

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