Yes they are. Its a done deal actually and i am sure they will announce around the rights offer period to give it a boost.

That unaudited Q4 2020 FS I am taking with a pinch of salt. I will comment when i see the AFS. In any case it is the trend for every company to record fantastic figures in a period preceding rights issue/public offer. I bet they will use some of that deposit for shares in their possession to pay dividends.

rebekah2011:
[They are selling AIICO PFA. The wrong move in my view.quote author=TLAX post=86788245]

@Bolded contradicts your opening comment.

I have never seen any company that dilutes shareholding and raises money via rights issue for fun. The group needs the cash and they need it desperately too. Barring poor market conditions they would have done the RO last year. That is why in addition to PP and rights issue, they are also selling their AIICO PFA to a Merchant bank.

There is a world of difference between retained earnings and cash and so while all the accounting indices may be pointing to a healthy company, the guys are cash strapped.

That one about significant dividends to help people buy rights, i think its wishful thinking.

a) http://www.nse.com.ng/products/equities/market-making
b)http://www.nse.com.ng/dealing-members-site/Notices/Equities%20Trading%20Manual%20and%20Market%20Model%20of%20The%20Nigerian%20Stock%20Exchange.pdf
c)It actually closes by 2.30 pm and I think you can still place your bid or offer by 2.20 pm.
d)http://www.nse.com.ng/mediacenter/pressreleases/Pages/SEC-NSE-Commence-Direct-Cash-Settlement.aspx
e)from 9.30 am to 9.59 am you cannot see the bids and offers being displayed fully, same as from 2.15 pm to 2.30 pm this is to prevent manipulations. If you have the funds, you can move any stock either up or down.

BAMOFIN1:
I will appreciate if my Ogas can explain the following concepts to me especially as each relates peculiarly to the NSE
a) market makers, their functions, advantages and disadvantages, are they enemies or friends of retail investors;
b)pre-market: the participants and its purpose and do they have more privileges than ordinary retailers
c) why does the sales engine close at 2.15pm yet you still see trades effected at 2.30pm
d) what real as opposed to theoretic protections do an ordinary investor has against loss of his money in a stockbroker account, especially a one-man controlled brokerage firm and
e) how do some traders use posting of huge bids or offers to manipulate price, assuming somebody call their bluff what will happen?
Thanks as you educate me.

pluto09:

Where is Oracle and his bear gang
The bull gang seems to be in full force today

Where's the bull?

rebekah2011:
[They are selling AIICO PFA. The wrong move in my view.quote author=TLAX post=86788245]

@Bolded contradicts your opening comment.

I have never seen any company that dilutes shareholding and raises money via rights issue for fun. The group needs the cash and they need it desperately too. Barring poor market conditions they would have done the RO last year. That is why in addition to PP and rights issue, they are also selling their AIICO PFA to a Merchant bank.

There is a world of difference between retained earnings and cash and so while all the accounting indices may be pointing to a healthy company, the guys are cash strapped.

That one about significant dividends to help people buy rights, i think its wishful thinking.

Each one his own. Did you see the amount of cash on the balance sheet? Did you look at the cash flow statement? For the past 4 years, I have followed and have been critical of AIICO's financial statement. I have seen the standards of the financial statement improve significantly over time up to a high level of transparency. There is still room for improvement that I know. My criticism surrounds the fact that AIICO has been significantly understating it's performance over the years to suppress the market price of it's shares to favor the majority shareholders in their private placement. Now that I know that one of the investors in Leap Frog, that view has been tempered somewhat. However, I still believe that as we speak, AIICO has more than =N=5 billion in fictitious liabilities that should have been part of profit before tax over the past 3 years. =N=3.2 billion of it is from 2019 alone. I honestly do not know why they are doing this. I do understand that this is counter intuitive because companies are generally known to inflate their results.

Dupeodus:


AIICO truly does not need the additional capital from the proposed rights issue. The latest unaudited fs for end of 2019 shows that they have the required N18 billion paid up capital as defined. However, most of those capital is in the life business. AIICO has a need to increase the capital for it's general insurance business to enable them to carry the risks of their generated non life business which they have been forced to re-insure over the years because of low capital. I speculate that is the need for the rights issue. I also speculate that they will help shareholders out to find the rights issue by doing a significant dividends this year. In effect, they are re-allocating capital from the life business to the non-life business and for those that re-invest the dividends in the rights issue, it will be like receiving bonus shares, save for the withholding tax.

But they just got 5.3 Billion why are they going for right issues?

thebargainhunte:
Are we expecting goodies from the company? I sold the company at lost last two weeks after seeing NASCON result.

I don't know o.
Nothing concern me with those 3 stocks I mentioned self...Aiico, carverton and dangsugar.
Not within radar. Reason I seldom mention anything about them.
Direct all enquiries to CP or OGG.

CashDiMkpa:


People wey never do board meeting?

But their Board Chairman and members are here on NSEMPA! Are you not aware?

Zenith: Able to defy sell pressure due to large offers.......again. Support still remains firm at 9.50.....lets see how the remaining days of the week will look like....
Fcmb: Support at 1.80. I've been queuing up below 1.80 for over one week but it refused to go down low, let's see how the whole scenario plays out.....
UBA: Strong support at 7.60...
Access: Support at 9.60/9.70......
Wapco: Strong support at 15......

Which one again self, lol ......

There is no cause for alarm, it's a win win situation. Don't be left out, from the FAAC sharing
( https://economicconfidential.com/2020/02/faac-states-share-n647-353bn-for-january-2020/ ), I was thinking that the effect of corona virus will bring down the revenue sharing to below #500 b, but I was happy to see the sharing stood at n647 b.

The bull will show face before the next 10 days.

Chibuking81:
There is no cause for alarm, it's a win win situation. Don't be left out, from the FAAC sharing
( https://economicconfidential.com/2020/02/faac-states-share-n647-353bn-for-january-2020/ ), I was thinking that the effect of corona virus will bring down the revenue sharing to below #500 b, but I was happy to see the sharing stood at n647 b.

The bull will show face before the next 10 days.

I think about 6 stocks closed today on a strong bid.Which other bull are you talking about?

Tomorrow and next gonna be bullish.What you will see in the next 10 days is pullback followed by Janet calling after this earning season.

Brent $59.15.

What's up with transcorp shares, I am not understanding it again?

PETERiCHY:


You are still a LEARNER this JiJO business..Once you met your target no regret and no looking back else you may turn to a PILLAR of SALT.

2moro CARVETON might open on FULL OFFER.

*ThE OcToPuS*

This got me laughing so loud...

locodemy:


I think about 6 stocks closed today on a strong bid.Which other bull are you talking about?

Tomorrow and next gonna be bullish.What you will see in the next 10 days is pullback followed by Janet calling after this earning season.

What we witness yesterday was selected bull, and if you call that the bull present, that mean there are always bull and bear in the market every market day, because there will always be some companies that will close on green while some on red. Even the selected bull was below the bear as of yesterday.
The selected bull usually have short lifespan.

Before the closing of market yesterday ASI was on the negative side. All the big cap companies was on the negative side, these include, Dangote cement at #155, Nestle at #1,121, GTB Bank at #28.40, and when such happened it usually call for concern.

What am referring in my post was about likelihood of general bull return.

http://www.nse.com.ng/Financial_NewsDocs/29126_WEMA_BANK_PLC._CORPORATE_ACTIONS_FEBRUARY_2020.pdf

Mcy56:
Zenith: Able to defy sell pressure due to large offers.......again. Support still remains firm at 9.50.....lets see how the remaining days of the week will look like....
Fcmb: Support at 1.80. I've been queuing up below 1.80 for over one week but it refused to go down low, let's see how the whole scenario plays out.....
UBA: Strong support at 7.60...
Access: Support at 9.60/9.70......
Wapco: Strong support at 15......

Which one again self, lol ......

Madam, I dey follow you o for nyach , e dey be me like say you dey meet target well o, if you buy I buy from now on. Ok ok, so na FCMB dey on board now?

ositadima1:


Madam, I dey follow you o for nyach , e dey be me like say you dey meet target well o, if you buy I buy from now on. Ok ok, so na FCMB dey on board now?

Waiting for Agba's reaction on the obvious.

BAMOFIN1:
I will appreciate if my Ogas can explain the following concepts to me especially as each relates peculiarly to the NSE
a) market makers, their functions, advantages and disadvantages, are they enemies or friends of retail investors;
b)pre-market: the participants and its purpose and do they have more privileges than ordinary retailers
c) why does the sales engine close at 2.15pm yet you still see trades effected at 2.30pm
d) what real as opposed to theoretic protections do an ordinary investor has against loss of his money in a stockbroker account, especially a one-man controlled brokerage firm and
e) how do some traders use posting of huge bids or offers to manipulate price, assuming somebody call their bluff what will happen?
Thanks as you educate me.

For qus (c): If you loose any money in a stockbroking account to the Broker/Firm, may be the firm is out of business, you may be compensated to an extent under the Investors Protection Fund of the NSE... or better still report the case to the NSE via their online whistleblowing portal.

http://www.nse.com.ng/regulation-site/xwhistle-site/Pages/tips.aspx

Premarket for Ucap: 43M+ bids at days high, 3.54. Chai!
From tomorrow or even today, some may start taking profit.

ositadima1:
Madam, I dey follow you o for nyach , e dey be me like say you dey meet target well o, if you buy I buy from now on. Ok ok, so na FCMB dey on board now?

Chai!! This one is strong ooo.
My bros, be careful of follow follow, this Mcy is neither a TA or FA person
We have quite a lot of experts here, they recommend stocks from time to time, only remember to do your due diligence before buying any, will be good if you ask for more clarification as well if unclear about it.
FCMB is a good buy for me within 1.80-1.85 range. Getting below 1.80 around this earning season is a plus.............pls note that this is purely my opinion.
UBA is also good at currentprice 7.55-7.70 range.

Afriprud: Getting more attention and riding on Ucap result.
People should have it at the back of their mind that Afriprud is pricing in its dividend already, once they release result, it may not fly as may be expected (except if its super outstanding). Not saying it would or would not o, make una understand me well abeg.........
UBA: Strong support at 7.60.....
Zee: The seller-gang were on ground with the wares displayed in units of 500k, 700k, 800k, 1.5M range, on wholesale prices......lol.

Uchetoba:
http://www.nse.com.ng/Financial_NewsDocs/29126_WEMA_BANK_PLC._CORPORATE_ACTIONS_FEBRUARY_2020.pdf

Just a clarification letter, that the committal proceeding filed against Wema bank by Heritage bank has been withdrawn.

BAMOFIN1:

Here's my small addition, in my own newbie's understanding:

c) why does the sales engine close at 2.15pm yet you still see trades effected at 2.30pm
** Sales engine does not close at 2.15 but 2.20
** Market closes officially at 2.30, reason you see trades effected till 2.30. There's however a 10min window (btw 2.20-2.30) within which all activities are controlled from within.

d) what real as opposed to theoretic protections do an ordinary investor has against loss of his money in a stockbroker account, especially a one-man controlled brokerage firm and
** Answered already. Just wanted to add that this is where having stocks in your investment account is really advantageous and makes transfer easy in case a brokerage firm winds up and becomes inactive. You can retrieve all your stocks back.

e) how do some traders use posting of huge bids or offers to manipulate price, assuming somebody call their bluff what will happen?
** That's why NSE is still porous, no better way of tracking such activities down so far.
** If you have money and have like 2 or 3 investment accounts with different brokers, you can easily do this. Very easy with penny stocks especially.
E.g, if you want to move Wema for instance, ...................................................... fill in the gap yourself.
(Some guys recently did this in Law Union).

OakPearl:
Waiting for Agba's reaction on the obvious.

Agba no get mouth there.
I don divorce am sinceeeeee, his ministry failed to help my ministry. Lol.

Ucap Dividend Info:
Dividend: 50kobo
Qualification Date: March 6, 2020
Payment Date: March 26, 2020
Registrar: Africa Prudential
http://www.nse.com.ng/Financial_NewsDocs/29123_UNITED_CAPITAL_PLC_CORPORATE_ACTIONS_FEBRUARY_2020.pdf

Profit taking ongoing in Ucap and Afriprud................
Another coy that released good result is Nahco.
IF they're not stingy, it should be rewarding too, if you can get btw the 2.50/2.70 range.
Pls note the IF and also note that the price range is exclusive of unforeseen circumstances.
Custodian Insurance also getting attention, one of the few good ones on the excchange but veryyyyyy illiquid.....

Why DMO Dropped Stanbic IBTC Stockbrokers for CSL Stockbrokers
https://businesspost.ng/economy/dmo-drops-stanbic-ibtc-stockbrokers-for-csl-stockbrokers/

CBN Official Dollar/Naira Exchange Rate Drops to N307/$1
https://businesspost.ng/economy/cbn-official-dollar-naira-exchange-rate-falls-to-n307-1/

Nigeria’s Brass River, Qua Iboe Rally as Oil Market Continues Recovery
https://businesspost.ng/economy/nigerias-brass-river-qua-iboe-rally-as-oil-market-continues-recovery/

Nigeria Suffers 9.63% Revenue Shortfall in January, FAAC Shares N647bn
https://businesspost.ng/economy/nigeria-suffers-9-63-revenue-shortfall-in-january-faac-shares-n647bn/

Bears Keep Nigerian Stocks in Captivity for 5 Straight Days
https://businesspost.ng/economy/bears-keep-nigerian-stocks-in-captivity-for-5-straight-days/

Investors Oversubscribe February 2020 FGN Bond Sale
https://businesspost.ng/economy/investors-oversubscribe-february-2020-fgn-bond-sale/

i do myself strong thing o..

Mcy56:
Ucap Dividend Info:
Dividend: 50kobo
Qualification Date: March 6, 2020
Payment Date: March 6, 2020
Registrar: Africa Prudential
http://www.nse.com.ng/Financial_NewsDocs/29123_UNITED_CAPITAL_PLC_CORPORATE_ACTIONS_FEBRUARY_2020.pdf

jideflash:
i do myself strong thing o..

Are you not giving us update for caverton or you also sold as you did in ucap?

Mcy56:
Ucap Dividend Info:
Dividend: 50kobo
Qualification Date: March 6, 2020
Payment Date: March 6, 2020
Registrar: Africa Prudential
http://www.nse.com.ng/Financial_NewsDocs/29123_UNITED_CAPITAL_PLC_CORPORATE_ACTIONS_FEBRUARY_2020.pdf

@Mcy. payment date is 26th not 6th. I know it was a mistake.

onegentleguy:
Heard that CSL(the brokerage arm of FCMB group) was on Monday appointed as the official stockbroker to the federal government of Nigeria.

Inference: More money on the table for FCMB and maybe less for STANBIC(not sure, but I think they use to manage that position)

Disclaimer: NOT to be interpreted as any form of recommendation.

If this news where to be in the US stock market, FCMB would have been riding on a high now. It's big news for any company that secures govt contract over there.

Mcy56:

Agba no get mouth there.
I don divorce am sinceeeeee, his ministry failed to help my ministry. Lol.

We his supposed kinsmen are not aware oh.