@ manjiro

I am not sure the international breweries ipo form is available yet, should be this week. Its not at a great discount though, the price is 0.94 on the floor
I do not think GTb has any offer coming, they have raised a lot of money this year, they had a bond offering earlier this year and few weeks back, they had the GDR (at least 95BN naira from GDR) and their eps is still yet to recover.
Rest Assured, Japaul is not a yahoo company. They are legitimate, even with the yahoo.com's

@ Tunjisho
The last i heard is that certs will be posted soon. How soon? i dun know o.
However, Intercontinental Bank's Registrar was Wema Registrars with phone number 012666778 and address A.G. Leventis Building 2nd Floor, 42/43 Marina, PMB 12964, Lagos OR you can contact Intercontinental Registrars Limited with phone number 012771114 and address 107/113 Broadstreet Lagos.

very interesting concepts

boy steve:

Please you guys should say something about the Eco bank now pleaseee

The fundamentals do not support ecobank hitting 12 range,
However, news of the agreed merger with FBN pushed the price up last week.
There are as of now, no details of the merger available but we do know that First Ecobank is on the way.

Will ecobank get to 12?
it depends on how good a deal ecobank get from the merger but its not impossible,
i am not sure i would take that risk though.

naijaking1:

Importance of a standard grammatically correct English cannot be overemphasized in formal settings, but the role of pidgin as naija quasi lingua franca also deserves a special mention.

Thank God for pidgin; the Yoruba can talk to Igbo, to Hausa, Tiv, Ijaw, Fulani, Igbira, Ibibio, and vice versa. Until we evolve a national language, I beg make una leave pidgin alone-o-o-o.

seconded,
every country has its own slangs,
"shay?
Abi?
Leave me jare!
O sha mo?
As in you know sha?", are not exactly derogatory,

EMMAACHILE:

Recommendations and results for Nigerian-German Chemicals

thx for the report, keep them coming

Pelican:

Ha, ! E gba mi ooooo! Wetin I talk, wetin I dey hear oooo. Abeg o. Make we talk about this GSM people and how to get them to come to the stock market. However , thanks for whatever. I respect your feelings and I love the power of God and His beauty in you.

hahahaha i am cracking up with laughter here,
tobz, abeg free the guy, this sudden unsolicited online love too strong hahahahaha

Pelican, On a more serious note, u have a point, MTN for instance seems to be listed on johannesburg stock exchange in south africa which is jus sick,

@sheriff

I dun have much info Chellarams but i have seen analysts recommending the company as a buy.
My only objection is that it is not a very liquid stock. You might want to sell and find no buyer in unfavourable times.
For instance, there was only 1 deal on chellarams today and it was worth 26,000 naira,
Liquidity is also very important, Buy a stock that you can always get out at a good price when you want.

For Lasaco, they have more than a billion shares. They had a po and rights issue last year to raise 6 billion mo shares which was 80% subscribed, the outstanding shares are yet to be listed.
But even then, their earnings are solid. 6 months is tight, 1 year is more like it just to be sure,

@Easimoni

u don reach here?
i been tire too when i see the dangote beef o,
us wey dey chop for nse definitely no get beef with dangote,

In any case, Do you know Oprah makes even more money from her tv shows which supposedly display her acts of kindness?
Paradoxical, i would say.

good points, but all these plenty debt, make we see good results at least esp considering that ordinary shareholders are last in the pecking order in the days of disaster,
if results are good, 8 naira could even be a good entry price

easimoni:

The suspension was lifted today and it dropped the expected 5%. Expect the 5% daily drop to continue for at least another week. The people who bought pre-IPO will be dumping.

Let's see one interim result and maybe I'll get in below N5.

the interim result will have to be really good to make me enter even at 5 o.

@easimoni

i read in punch that the bank mgmt is planning to keep only 150BN naira
if fbn is gettin the bigger piece of the cake in ecobank, then the extra money may be justified,
besides did u notice that both fbn and ecobank did 5% today?

pinokio:

i bought unity bank at 6.18 per share

You entered at a high price no doubt,
Unity is speculative but it's still a bank,
Fundamentals are not too good, merger with ecobank is off, but its stil highly speculative with rumours of foreign investors, bonus and dividends as well as pure gambling, but i have seen worse stocks do extremely well,
Good news tho is that the stock seems to have some support at 5 naira
If you have not put too much money, my advise is to sit this bearish trend out, hold on for a while
And be ready to take advantage of any upside that favours you

But if you have put a lot of money, you might need to cut your loss and get out at a fairly decent price. its 5.8 at todays closing and there are stocks with much better fundamentals out there.

donne4real:

Does anyone know about the JaPaul offer? I noticed that they took down the Application from their site. And I am hearing from some people that the offering has been suspended until September. Is this correct?

the dealing members of the exchange met on monday to discuss the offer, should still be this september

pinokio:

how about unity bank shares?, i'm stuck with them and they seem 2 be going no where, should i sell and then buy sterling bank, or wait and pray for sunshine?

what price did u buy?

@wendy
congrats o

@shigidi
when i turn my back on any of the stocks i have commended, you will be the first to know,
For now, i dey kampe,
Crusader's net profit ratio and turnover growth rate still remains very healthy.
Though for this period, i would recommend you have some small cash available, some stocks will get even more attractive, lets jus say, cash is not trash for now, i feel patience will even lead to better deals in the coming days.

The story of the NSE

obviously eps and pe calculations are difficult cause to get an audited result takes like forever.
And when u do get it, u'll need mo answers to your mo questions, all u need to do is look at access' audited reports
if and when you do get the answers, the cat has moved, the market has acted and you may not be able to take advantage of your total due diligence.

this is naija and as u know, our problem is information disparity especially regarding our market.
Most companies release half year unaudited result for june in august, audited only comes next year at the time of the company's choosing.

we cannot make 100% calculations or predictions then but the best i feel is to act even with the incomplete information, take a calculated risk and still profit. we can at least say with some level of clarity, which company's figures look more attractive within the realms of available information., afterall thats why we share views, not that we have the fuller image but we complete our views to the best of our abilities

i am not saying its wrong to get audited reports, i am just highlighting the flaws in our system.

@okiki
Crusader listed their extra shares in May. Nothing was said about adding extra shares via the acquisitions.
I will however check to see if i can find anything

@ Emma
those numbers you posted look a bit weird, and i dun mean that as an insult or anything. projected pe for zenith is 228?
pls can you give us a link to the report?

@chokit
i just sent u an email

jungle700:

Hi Guys,

I heard Sterling Bank is coming to the market to raise about N100b. Is this a good time to buy into the company? I am in for the short term. The share price is currently trading around N8.2. Please advice as I am planning to call my broker tomorrow. I am looking for at least 25% increase, i hope am not being too greedy.

whats your investment time frame? if close to or more than 6 months, you might be on the right track, interesting things lurking around on this stock.

you have to know when to get out, and even tho i see the rationale, there's a risk because sterling will rise on other forces rather than fundamentals,
proposed share reconstruction should also boost the value of the shares
i bought some sterling bank earlier tho, when they were much cheaper, and i am still holding,

if u time your purchase well, you might get sterling at less than 8 naira tho

Panadol:

Not another bank again!~~

hope you dun have to take the real panadol o, because there's still about 6 banks lining up,

my brother, na so we see am o

@wanaj0

well said,
i am neither for or against any industry too
i have bank stocks and insurance stocks
i am only on the lookout for bargains, and prepared to take some calculated risks in the process if need be

@ALL
Looks like sterling bank is planning a share reconstruction soon. shareholders have given mgmt permission to go ahead with share reconstruction. keeping my fingers crossed on this one.

BabyGaddy:

Temmie10

I sent u a mail (your reg email address) and yet to receive a reply, haba na fight!

Please o, reply my mail, na simply lecture i want and i promise not to beg for money

abi ,

Thanks

checked: i haven't got any mail.
try sending again: my email is temietope@gmail.com

BabyGaddy:

Temmie10

can u please reply my mail

Thanks

sorry but i haven't got your mail, what address did u send it to?

@Icon4s

No be so o, At the time when firstbank was 40.40, it was one of the fairest priced among banks due to the bullish trend in the first half of this year. in short all banks were overpriced at the time, ALL!

Secondly the price was not manipulated to 58, the bank released a very good year end result and promised dividends and bonus issue so a lot of people rushed in to benefit from bonus issue, demand increased, hence price went up,

As is usual with any company that announces bonus, some short termers will sacrifice bonus issues and sell shortly b4 deadline taking advantage of the high price, supply icreases, price goes down

i can tell u categorically that those that bought the FBN will make their gains in time, let FBN declare good results with the money they have collected and see,
FBN is not doing pos to put the money in a coffin, it is to generate profit and ensure that earnings, profits can be grown.

@ wanaj0

i appreciate your concerns and they are probably very well founded.
However i am sticking to my guns on this one

Historical pe for banking was 6-11 before consolidation too.
i also feel more comfortable buying crusader at a pe of 14 than buying gtb at a pe 0f 30.
that way i can sleep well without even worrying about correction because i know the company has good earnings growth so in any bearish trend, it will rebound.

plus the outlook for insurance in nigeria is huge, a lot of insurance is becoming compulsory,
dividend payout is not all small in insurance, i got 15k dividend for crusader while fcmb gave out 35k and access gave 40k,
if you compare to the prices they are trading, crusader has a higher payout ratio than a lot of banks.

And banks? na them get equity/debt arrangement pass, their capital structures are as complex as possible

bug79x

fye 2007 (around march 2008) is judgement day for mutual benefit, lasaco et al, but we won't be able to take position then so one is jus moving before hand.

besides, is there anything u know about law union that u want to share?, surely there must be mo than "it should be watched"

p.s. the numbers for std alliance insurance are looking good (but i dun know much abt this company), forward pe of 17, correct me if i am wrong

easimoni:

You are maybe the 3rd person today to mention this N400M interim result. I never saw it and it's not on the NSE or proshare websites. Oya, make una direct me.

Standard Alliance = 3.47B
Sovereign Trust = 3.51B

And before u ask, I'm sure.

Try this link
http://www.fsdhsecurities.com/WeeklyInfo/NL060807.pdf

which stockbroking firm do u work for?
i hav a fren in naija who wants to open an a/c,

@aylala

its good to hear from you again.
i think its not entirely right to blame the market downturn solely on firstbank public offer or access' or any of the public offers for that matter.

the market had to correct somehow and that is what we are witnessing, however, fundamentally good stocks will hold their own.

The market was seriously over-valued before this correction began.

I had 8 diff stocks at sometime in may and almost all of them were doing 5% upwards daily, there had to be correction as some stocks were selling at sky-high pe ratios with no justification.

I see this as a time to take proper position and i am still hoping some gem stocks drop so i can cover mo ground,

@all

The additional shares outstanding in the name of Transnational Corporation of Nigeria Plc (Transcorp) following the Initial Public Offering (IPO) would be listed on the floor of The Nigerian Stock Exchange (NSE) on Thursday August 30, 2007.

got this from fsdh

thx for the prompt reply wanaj0


MBenefits capital structure looks straightforward enough compared to others in the bracket, dividend policy is also very generous so i am HOLDING and will BUY even more if price further drops.

kojeiwa:

So no one could even help me with my question. Na wa o.

whats your question?

@ aksance
i have gone the 3.38 road too bro.
the half year result of 450m is confusing and i think mutual benefit released it just so it could be compared with lasaco, crusader, cornerstone all releasing their half year results.

Here's my rationale, Mutual benefits 2006 fye result was a PAT of 867m (http://www.mutualbenefitsassurance.com/Financial.php), needless to say they are going to declare a higher PAT for 2007 fye considering that for the first half of 2007, PAT was increased from 75m (2006) to 450m (2007) which u rightly pointed out, we might have to wait till march 2008 when the financial year ends tho

Their forecast eps is actually 33k so if they meet the forecast, this baby is at a huge discount but its a big if

@ wanaj0
thanks a lot, whats their forecast eps?

@ wanaj0

what's the deal about flour mills?, i have looked at it but wasn't too sure abt this one

Can u pls share?