UNION BANK OF NIGERIA PLC RIGHTS ISSUE
12,133,646,995 ORDINARY SHARES OF N0.50 EACH
AT N4.10 PER SHARE
(PAYABLE IN FULL ON ACCEPTANCE)
LAGOS, NIGERIA, OCTOBER 23, 2017
You are right ooo.

pluto09:



300b is too much in my view.
Market value of Zenith is currently less than 500b.
I don't think Union should be valued more than 1/4 of zenith.

Zenith in my view should just pay cash and cancel all the share capital of Union bank. 300b - 400b should buy it.

yMcy56:

Offer was available for UBN since and the bid not that heavy nah.
UBN price didn't change much also cos it looks high already self. For them to consider that price, Zenith needs to move back to the 17/18 region or they beat down the price of Union like you said.
Anyway we see how it goes.....

In 5 years, the money will be complete if the dividend payment is sustained.

emmanuelewumi:



Zenith paid a total of N2.80k so your dividend will be N13.44 million


About N12 million after the deduction of 10% withholding tax

It is indeed a trying moment for the world markets. When the effects will trickle down to Nigeria, it is going to be ............. cannot complete the sentence.

pluto09:



When will that be?
The damage would have been done.

You may be paid cash

Mopolchi:
So I will be losing some units of my union bank shares for few units of Zenith bank shares.

Ovia started out as a clerk at Union Bank, formerly Barclays Bank in 1973. This was shortly after he finished his secondary school. He worked for 3 years as a bank clerk before moving to USA where he obtained his Bachelor’s and Master’s degree. Maybe it has been a lifelong ambition for Jim to one day takeover Union Bank.

onegentleguy:
The rumour that ZENITH may be about to acquire UNION bank is looking likely to be true. ...including that of a merger between FBNH, POLARIS(formerly skye) and HERITAGE bank.
...I am yet to confirm things though.

We wait to see if there'll be update from any of the banks involved. ...or maybe a denial before an acceptance like we saw with the marger of ACCESS and DIAMOND then.

It is well.

The 2 cannot be in the same conversation. Zenith bank all day.

alwayshigh:
My question is simple. Please, Access bank now and Zenith Bank, which is a better buy given their current prices. Thanks.

Cc: kind hearted BnSITL
Pls Rabbi, Mcy, CP, Rebekah,OGG

I agree that there is no relationship but with the economic indices pointing to challenges ahead. How are we certain that the banks will be able to make the same earnings as they did last year? The quality of those earnings too. If this continues till the end of Q2, we may be witnessing the decline in banks profitability. Banks do not exist in isolation.

emmanuelewumi:


No relationship between stock price and dividend payments.

Dividends will be determined by the profitability of the company and not the share price

Thank you.

RabbiDoracle:


The impact will not be grave for Nigeria.

They didnt even stop companies in Nigeria. Work still going on.

The only problem for Nigeria is the trade. Those who trade with Chinese will be impacted. But with China gradually coming back onstream, things will look up.

Only EU and US are where the challenge is now.

But you look am na... DOW has gone too far. It needs to have a major correction.

After that, all of us go dey well las las.

How dire will the economic impact be with Nigeria? How will the banks cope?

RabbiDoracle:


After the virus comes the economic impact. Then the world will pump in excess cash.

Gtbank will soon join.

Mcy56:
GTB: bids 80M against 5.9 offers as at now....... remaining Zenith....

Are we sure that the same level of dividend will be possible come next year? I am not that optimistic.

emmanuelewumi:


Still a good deal at today's closing price of of N12.05

when that time comes, the level of NPLs and write-downs will be unprecedented in Nigerian Banking industry. Zenith can write off 450b in loans and Access bank 750b or 1 trillion sef. First bank will just ask depositors to go and collect their deposits from CBN.

lancee:



..End of all the banks in Nigeria

Plenty billions have gone down in the past. I saw 34b once and above N30b many times.

robobo:
My poeple wld today not go down as the day with the highest volume ( by value) ever in the history of NSE?

You are close. It is a combination of recession and depression.

IYGEAL:


In other words, continuation of this is nicknamed recession!

Hello Sir, can you please help with another volume adjusted Price Model for Gtbank and Zenith banks going forward. I am interested in knowing this because I do not want to miss out again.

meshpips:


This day I bring this post to your remebrance.

If anyone still doubts the potency of the Volume Adjusted Price model, there is nothing else I can do to convince you.

@NorthEastern and my other friend that called me a "demented jackhead" I hope we learn from this.

All the best guys!

Back into my shell I go!

ZB all day.

bigjay01:


dilenma

ZB or DSR

Zenith looks like the bottom is here. Gtbank is still digging for new low

Mcy56:
Premarket:
GT: 157.9M @ N18
Zenith: 103.6M @ 11.75
Bids available for UBA @ 6.25 .... yesterday's close.

Sellers keeps removing their offers cos the figures were more than these earlier.
Guess whosoever is picking today will be picking bargain.

It is not a single offer. premarket activities kind of aggregate all bids or offers at the highest or lowest price depending on the situation at hand

Ibrahim505:
Single offer of 178m units of gtb at N18
Single bidding of 500k units of gtb at 19.95

The banks may not have problems in the immediate but if the problem persists they will soon be hit.

Chibuking81:

It can go below that today, you might likely get it at #11.75 at the beginning of today business, but will likely reverse up before the closing of today business, those who will buy at the beginning of today business will get it cheaper. Many are trapped since Monday when all doors were closed down, and the door will be open today for them to escape, but they will only realise later that they have handed over to those who are greedy when others are fearful.

Crude oil will probably move up above $40 on or before next month. The current down tone is to get non-OPEC and USA attention to participate in the crude oil cut.

The question is, why the cut. They answer is to address the quantity China and some other countries corona virus visited use to buy. The news of corona virus will soon be a history, on or before May corona virus will be saying bye bye to the world.

China will be back to their feet, their companies will resume with full force, the quantity of crude oil those corona virus victims countries use to buy will be up again, and crude oil price will move back to $50/$60 if not $70.

The question here is, apart from news of fall in crude oil price, does Zenith, GTB, UBA, Dangote sugar e.t.c has any problem? The answer is no. Buying any company now is buying at bonanza offer.

Crude oil price now is at $37.93.

March 19.

pluto09:



When is gtb going to be marked down?

Buy BOTH. Listening to call conference of Gtbank. I am impressed.

Agbalowomeri:
If we have similar falls on Wed and Thurs, I am diving in on Friday
Zee or GT

It will likely reverse before Friday sha

Madam, my eyes shook. but with just 12 to 13b all the offers will go away

Mcy56:

GT and Zenith pre-market is looking scaryyyyy

Oga OGG is looking for money to mop up over 307m of Gtbank currently on offer at N19.95 and Zenith's 215m at N13.05

Biafran4life:
Oga Ogg,pls show face oh.We your student want to hear your contribution at this time.

Posts are meant for the moment. I did not see the coronavirus making things worse like this. The disagreement between Russia and Saudi Arabia was not planned to be like this. Many things are happening that have totally changed the complexion of things. At least one will take solace that dividends will keep on rolling in till things get better maybe in 2021 or 2022.

locodemy:


At least,your tempo has reduced.Go back and check your previous posts on zenith Bank.

Fear ke? I will buy with the dividend when it lands. I hope the market will depress till May when my contribution will be complete to buy more. I am even willing to borrow to buy Gtbank and Zenith. opportunities like this do not come every time.

Coolcash1:


fear won't allow the dude to do that ....

March 16 is not far oooooooo

RabbiDoracle:


Payment date is still far o. Except all the shareholders will take loans and mop pending when their dividends land.

Jim will just start mopping up. His dividend money alone will buy a lot of shares.

RabbiDoracle:


Let's look at it this way. Now Zenith is at 17.

Tomorrow is markdown. So 2.50 will be deducted. This takes it to N14.50.

If that same day there is this huge offer to exit, then take 10% off the 14.50. This brings it to N13.10.

Same offer on Wednesday, this takes it to N11.80

Thursday : 10% off, this becomes N10.7

Friday : end of discussion, same 10% offer N9.7

Then next week, we don't know the news that will be out then.

Is N5 not close?