EASIMONI,

Did i hear you say something about Access PO, were you refering to the concluded PO OR another PO is on the way?

ALL,

I HEARD FIRST BANK IS RETURNING MONIES BACK TO INVESTORS WHO BOUGHT MORE THAN 10,000 UNITS DURING PO, CAN ANYONE CONFIRM THIS INFORMATION.

Also, how do we go about collecting the returned funds

Where can i get fund prices(shellter fund) from?

Where can i get fund prices(shelter fund etc)

Guys,
Are you guys now saying we shouldn't buy japaul oil anymore because we know they'll issue bonus shares to compensate shareholders for the discount given to new investors.?

What i can sense from people contributions is moving towards FCMB(April 2008 dividend) than Japaul and secondly we'll all been more sceptical about Crusader(expect frankriri) because of their merger.

Interesting turn around,

Temmie10, frankriri, wajana and co, pls correct my interpretation if i'm wrong

Steeviee,

I would buy 100,000 unit at N21. What do you think

Iwerebor,

I have been thinking about the Niger delta crisis myself. I want to believe they would have had an agreement with the militants because Japaul Oil is a Nigeria firm not International.

You should know the way it is with our people in terms of bribery and corruption, don't be surprised to see bribery to militants as an expense on the financial statement. LOL!!!

Can anyone confirm if Investment & Allied Insurance Company PLC, formerly Milverton Insurance Co Ltd is currently having a private placement.

Temmie10, easimoni, frankriri and others pls respond.

Is this a buy or not??

Company Profile
• Investment & Allied Insurance Company PLC, formerly Milverton Insurance Co Ltd was incorporated and licensed to transact all classes of Insurance business except life. There was a management buyout on the company in 1993, when it started witnessing a modest growth.
• It was recapitalized to N200 million recently to enable it enhance its position in the market place.
• The company’s issues and fully paid share capital is made up of 100million shares of N2.00 each

Directors’ interests as at June 2006
Shareholder No. of Shares % holding
Abayomi Disu 10,000,000 10%
Funmi Ademosun 25,500,000 25.5%
Tony Ubogu 25,500,000 25.5%
Akin Oladeji 10,000,000 10%
Other Investors 29,000,000 29%
100,000,000 100%


Historical Performance and Ratios
• The company’s business, measured by Gross Premium has been volatile over the last four years. It grew at a CAGR of 24.3% over three years to N27.2 million from 2001 to 2004, but declined massively by 117.5% to N40.1 million in 2005.

• However, net profit grew at a CAGR of 21.58% to N20.26 million in 2005.

• Despite the loss in business occasioned by a drop in topline, earnings quality has been commendable as net profit margin steadily improved over a four year-period from 20.3% in 2001 to 50.5% in 2005.

• Company assets have grown at a CAGR of 29.7% to N297.5 million in four years

• Similarly, Shareholders’ funds grew by 33.6% on a CAGR basis to N282.4 million over four years to 2005.

Company Strategy
• In a bid to grow its business, the company plans to expand operations to other countries within the West African sub region.

• Its recapitalization strategy involves raising N2 billion via a private placement, with a view to having foreign equity investment during the placement

• The recapitalization strategy includes acquisition and/or merger with other insurance companies to enable it achieve up to a minimum of N3 billion in shareholders’ equity.

Valuation
• Based on the company’s result as at December 31 2005, we arrived at fair value ranging between N2.34 and N2.55 for a share in the company based on our Discounted Dividend Model (DDM) analysis.


• Trailing P/E Multiple of 10.5 is a discount to a sector average of 28x.

• Also, its trailing P/B Multiple of 0.74x is a discount to an average of 2.9x

Our Opinion
• We maintain that the company is fairly valued at the offer price. However, we emphasize that the conclusions reached were based on its most recent financial performance up to December 2005.
• The nominal value of the company’s shares is N2.00, which makes the offer price N0.53 assuming the nominal value of the shares is 50kobo. This will also result is a fair value ranging between N0.59 and N0.64.

Has anyone seen japaul oil prospectus please provide link

ty_ademolu,

I would like to buy your mbenefit, pls let me know when you want to sell. Thanks

EASIMONI, FRANKRIRI, TEMMIE10 and others,

I just spoke to my stock broker and i was told fidelity is still very much avaliable on the floor even though it's on TS.

The problem is, i don't know why people are selling now, when they can sell after the Technical suspension OR is there something going on we don't know about

History shows that after TS, price always rise to the roof apart from Transcorp case.

To All,

I just spoke to my stock broker and i was told fidelity is still very much avaliable on the floor even though it's on TS.

The problem is, i don't know why people are selling now, when they can sell after the Technical suspension OR is there something going on we don't know about

History shows that after TS, price always rise to the roof apart from Transcorp case.


PEOPLE PLS RESPONSE WITH SOLID FACTS AND FIGURES

donne4real,

You would have to wait for the share certificate to be issued first, before you can trade.

shigidi,

Are u having a laugh, they are offering a huge discount and it's not a bank which means share cert. wouldn't take 6-7 month to come out.

Ask yourself if you buying post the suspension, how long would you hold it for? If It's equal to the estimated time(3months) it will take the share cert. to be released just easily go for the PO.

Only if you need your money for something(profit-taker),  even though it all depends on how long you would be holding it for.

Temmie10,

Are u saying buying wema from the floor OR are they coming up with an IPO soon?

I love your opinion, it was clear and precise.

easimoni, how can i contact you apart from this forum

EASIMONI, yodiyokun, frankiriri, temmie10 and others

i tasking you to divide twomillion Naira into different stocks and let us see what you would come up with.

my opinion

150,000 units X 3.95 japaul =592,500
35,000 units X 14.9 ACCESS =521,500
35,000 units X 15 Dan flour = 525,000
30,100 units X 11.99 fidelity = 360899 (Secondary market)

EASIMONI,

What the fund managers are saying is that, they won't only give out 80% as dividend but also promise high capital growth rate.
I'm really sure the fund would perform exceptional because skye bank is the king of real estate investment.

Easimon and frankiki,

How come we all never spoke about Skye bank shelter fund?

Can people start coming up with intelligent opinions about it.

EMMACHILE, Great news on JAPAUL OIL. Thanks

Access bank around N25-27

Sweetmodel,

Pls this thread is basically for stocks not any other form of business or yahoozie. Na beg i dey beg ooo.

Easimoni,

why do you think people would be selling before the bonus or dividend day, knowing Nigerians we love anything BONUS OR FREE,

Maybe it's another factor affecting the present price of FIRSTBANK, and why did you say you'd be selling now if you had it in yr portfoilio??

Hi Guys,

What is happening to firstbank, it has lost about 5naira in just two days even though it's not yet bonus or dividend day??

Any ideas??

Easimoni i concur,

I think people have forgotten what happened to Access bank before they reconstructured their shares ( price wasn't moving up due to huge numbers of outstanding shares)

Huge numbers of outstanding shares makes price increase difficult.
Low numbers of outstanding shares makes prices increase easier due to low supply than demand.

Dis Guy,

Do you think it would be fair to buy it at market value from him, because it's just N24?

Dis Guy,

God bless you.

Please does anyone who how much NASCON IPO price was?? I am trying to convince my uncle to sell some of his to me at a discounted rate. URGENT ANSWER

lexi21 or whatever you're called.

If you think i was lying about being to his golf course, why don't you let me buy you a ticket on ryanair to visit dublin, so we can both take a trip to the course.

I want to believe you are either his family or your family is a David mark sycophant.

When you're ready let me know, so as to buy your broke arse an airline ticket to dublin.

izidor,

If you want to sell your zenith shares, i can buy them right now.

what do you guys think about First bank shares?