I can NEVER EVER reject dividend.
Even if the company is vomitting blood.
In Nigeria, when management start telling you of aggressive expansion, the management has already registered their own mushroom companies and completed laying the drain pipes all the way to their strong room, to completely drain the company, when done, they start resigning one by one...

But the minimum is 3m dollars. That is over a billion Naira

DeRuggedProf:


Better one chance than no chance......

rebekah2011:
But the minimum is 3m dollars. That is over a billion Naira

If someone like you is complaining of 3m dollars, then, someone like me don't even have to hear about the listing....

Bomboclad:

I don't think your source of information is correct.

Forte oil reported positive EPS in December 2018 and march 2019.

Buy Airtel shares at your own risk

Be greedy when the fundamentals are greedy, not when others are fearful...

I mean invest with an independent mind!

hisexcellency34:
Buy Airtel shares at your own risk

The IPO is not even available for common man. No need to preach it.
Of course, I'm not talking about the moneybags here.

CI LEASING
CAPITALIZATION AND DIVIDEND
Having completed the share capital reconstruction, we intend to raise fresh capital through a combination
of public offer and rights issue.
The dividend history is as shown in the table below. In respect of the current year, the Directors propose that a
dividend of 1,391,752,500 per ordinary share of 7.5 kobo each, amounting to N104,381,437.50 be paid to
shareholders upon approval at the Annual General Meeting. The payment of dividend is however subject to
withholding tax at the rate of 10%.
SOURCE ; 2018 FINANCIAL REPORT

valentinenwoko:
CI LEASING
CAPITALIZATION AND DIVIDEND
Having completed the share capital reconstruction, we intend to raise fresh capital through a combination
of public offer and rights issue.
The dividend history is as shown in the table below. In respect of the current year, the Directors propose that a
dividend of 1,391,752,500 per ordinary share of 7.5 kobo each, amounting to N104,381,437.50 be paid to
shareholders upon approval at the Annual General Meeting. The payment of dividend is however subject to
withholding tax at the rate of 10%.
SOURCE ; 2018 FINANCIAL REPORT

Reconstruction is always about destruction...
If in doubt, visit a Julius Berger reconstruction site....

I just opened a new account with another broker. Now I want to start afresh buying back the shares I sold with the old broker. Do I need to resubmit the e-dividend mandate forms?

I only see these big figures when I audit books

DeRuggedProf:


If someone like you is complaining of 3m dollars, then, someone like me don't even have to hear about the listing....

CI LEASING
The Directors are recommending dividend of 7.5k per 50k ordinary share. C & I currently has 1,391,752,500( 404.2m reconstructed and 987.5m Abraaj converted) unit of 50k ordinary shares on issue and the dividend amount would be N104,381,437.50.

Seplat just dey fall. Oil business no dey sweet again

ci LEASING; SCAM OF THE CENTURUY

Abraaj invested $10m convertible note in C & I in 2010. The conversion parameters on maturity are part of the agreement. That conversion has been triggered and comes up to 987.5m units….N1.9bn divided by 50k consolidated in 1 for 4. The main reason for the reconstruction as approved by shareholder was to accommodate the Abraaj conversion.

I AM VERY SAD EVEN AFTER POST RECONSTRUCTION, I HAVE BEEN ACCUMULATING FOR SHARES. AS AT TODAY PRICE IS N5.11
I HAVE LEARNT MY LESION. NEVER WILL I KEEP SHARES TO BE RECONSTRUCTED

valentinenwoko:
I AM VERY SAD EVEN AFTER POST RECONSTRUCTION, I HAVE BEEN ACCUMULATING FOR SHARES. AS AT TODAY PRICE IS N5.11
I HAVE LEARNT MY LESION. NEVER WILL I KEEP SHARES TO BE RECONSTRUCTED

When they warn you, you will not understand. It will be as if people are preventing you from buying juicy stocks.

Good you have the experience and then you will be the one warning others

How did you get the info on the OS?

Is offer size in this IPO same as OS?

Mpeace:
mtn OS is 20billion Airtel Os is only 500million. If you do the maths you will see say Airtel cheap

valentinenwoko:
I AM VERY SAD EVEN AFTER POST RECONSTRUCTION, I HAVE BEEN ACCUMULATING FOR SHARES. AS AT TODAY PRICE IS N5.11
I HAVE LEARNT MY LESION. NEVER WILL I KEEP SHARES TO BE RECONSTRUCTED

Gbam. Except it wasn't possible to offload before the reconstruction.

At least he can decide to either average down, collect dividend or run away.

RabbiDoracle:


When they warn you, you will not understand. It will be as if people are preventing you from buying juicy stocks.

Good you have the experience and then you will be the one warning others

maishai:
how i wished money is still backed by gold.......when banks re-capitalise all that money is still going to be dumped on the Nigerian economy to be spent first by the elites(presidents and public office holders)....First spenders in an inflated economy never feel the brunt...It is usually the masses that get handouts that feel it.....
The people I pity most are the backers of the new minimum wages, By the time they know what hit them a loaf of Valu bread will be going for #1500

I dont know why some were jubilating over the increment cos it'll amount to nothing eventually if inflation rate is not tackled.

IPO prospectus of Airtel is too complex for me to understand. It is buying into Airtel Africa which has subsidiaries in other locations aside Nigeria. It is an opportunity for those to buy a coy that is operating in Nigeria and other African Countries. The offer document is even in dollars

cuteboy2:
How did you get the info on the OS?

Is offer size in this IPO same as OS?

This is my fear too. Though it is based on the well-known tradition of Indian businesses manipulating the books so shareholders will not get returns. I have quickly scanned through the Prospectus and 2019 FY report (yet to be audited). Airtel has a huge debt overhang of $4b

They have been making losses in the 2 years preceding 2019 FY. In the prospectus, they state very clearly that they are listing the shares to raise funds to offset thier debt.

Bro abeg if you have more insider info, please spill it out for the common man, make we no go enter trap again.

hisexcellency34:
Buy Airtel shares at your own risk

RabbiDoracle:
When they warn you, you will not understand. It will be as if people are preventing you from buying juicy stocks. Good you have the experience and then you will be the one warning others

Lol.

rebekah2011:
IPO prospectus of Airtel is too complex for me to understand. It is buying into Airtel Africa which has subsidiaries in other locations aside Nigeria. It is an opportunity for those to buy a coy that is operating in Nigeria and other African Countries. The offer document is even in dollars

Same here, I have been battling since morning to decode the prospectus. I am even having headache now.
The 2019 FY financial report is even more mysterious. They have actually provided the report in "reported currency" and "constant currency".
But I struggle to figure out the expected returns per share to shareholders since all metrices on per shareholder basis is not included in the prospectus.

Even the offer size after a lot of rigmarole and plenty grammar is not stated. All they say is they have made provision to allote 10% above the subscription size. I tried to estimate it backwards from the amount they want to raise N270b and the high-end of the projected price range N454. The result is 594 million shares will be offered. But is this the same as Outstanding Shares (OS)?

In the prospectus, in one hidden corner, they state that issued and fully paid up share after listing in LSE is 3.7billion shares at nominal value of $1. Gurus in the house, please help us decode the OS and other metrices. PAT for 2019FY was $412m. Net debt in the books is $4b

Mcy56:

The IPO is not even available for common man. No need to preach it.
Of course, I'm not talking about the moneybags here.

Is is available. Nigerian brokers are arranging SPV to allow retail investors purchase minimum small units like 500 shares. Later, it will be crossed into thier CSCS account, similar to the MTN Teleop Fund arrangement done by Afrinvest years ago when MTN listing was anticipated

cuteboy2:


Is is available. Nigerian brokers are arranging SPV to allow retail investors purchase minimum small units like 500 shares. Later, it will be crossed into thier CSCS account, similar to the MTN Teleop Fund arrangement done by Afrinvest years ago when MTN listing was anticipated

Hello Chief

wld appr8 if u specify any of the houses involved in the SPV arrangement

MTN shares sinking like lead

Afrinvest

robobo:

Hello Chief

wld appr8 if u specify any of the houses involved in the SPV arrangement

cuteboy2:

Afrinvest

ok thank you appr8

All sentiments shared here so far about Airtel's IPO is mostly true.
It's a much more sincere approach IMO.
Going by the pricing which is based on the OS, you could decipher they aren't out to exploit the common man because it is already beyond his reach. If them exploit, kpa kpa na the money bags loose and they can hardly offend those caliber of investors, so they came clean with stating they will service debts with some of the offer proceeds.
The offer prospectus also states they are paying 80% of their eps as dividend.
One thing about investing at this level I have come to realise is that there is hidden value to reap before it is made affordable for all.
My own be say I have been scratching my head to find what ways retail investors like us go fit subscribe since pre-listing and today I have found a way.
Afrinvest has perfected an SPV that makes it possible for retail investors to invest in a minimum of 500 shares.
Am letting this info out here in the spirit of the brotherhood we share in this forum.
No intent to monkey hunt.
Do your DD and if the numbers pleases you, carry go.
I may take a punt on this...undecided though.

stcool:


Don't you just love the NSE...I always knew they must close the gap. They cannot buy at N66 from Ote$ and allow the price to remain at N30 below their investment price, that is a loss to them.

This the best time to accumulate FO, below their deal price. They must close the price gap... Another DF

Meanwhile expecting DF deal announcement anytime soon. The trade in recent times say so!

I doubt they will be concerned about the market price. They have control of the company and can patiently wait to skim off from both top and bottom line in future. Even if they wanted to take the company private, I doubt the will offer any amount near the 60's. No motivation at all to do that.

OakPearl:
All sentiments shared here so far about Airtel's IPO is mostly true.
It's a much more sincere approach IMO.
Going by the pricing which is based on the OS, you could decipher they aren't out to exploit the common man because it is already beyond his reach. If them exploit, kpa kpa na the money bags loose and they can hardly offend those caliber of investors, so they came clean with stating they will service debts with some of the offer proceeds.
The offer prospectus also states they are paying 80% of their eps as dividend.
One thing about investing at this level I have come to realise is that there is hidden value to reap before it is made affordable for all.
My own be say I have been scratching my head to find what ways retail investors like us go fit subscribe since pre-listing and today I have found a way.
Afrinvest has perfected an SPV that makes it possible for retail investors to invest in a minimum of 500 shares.
Am letting this info out here in the spirit of the brotherhood we share in this forum.
No intent to monkey hunt.
Do your DD and if the numbers pleases you, carry go.
I may take a punt on this...undecided though.

Chief do you have any contact in Afrinvest i can leverage on

wld appr8