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Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 8:50am On Jan 20, 2017 |
davide470: Spot on from where I stand. The price of the right is largely determined by how much they need to raise and not by how much the shares are currently selling in the market. Yes, a Rights Issue will normally be less than the price in the market but it doesn't have to be so. It is a game of numbers for some reasons 1. Current investors depending on how they think the company is doing can decide to pickup the rights or not, if they do...they up their game (more like maintain their current shareholding in reality), if they don't, they dilute their shares. 2. If they decide to pick up more shares (most likely from the market since it is cheaper for example), it is just a matter of time before the market drys up and by then the prices in the market would have risen beyond the 3 naira set for the rights issue. There might also be a long queue for those shares in the market...lol. Most people won't get it before it touches 3 naira. The main issue would be investors' confidence on the company but one thing is sure...this is a bold move and the company is sending a strong signal on how confident they are with this...time will tell 2 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by ihedioramma: 8:58am On Jan 20, 2017 |
Is ok . emmanuelewumi and arsenalman is reading now . |
Re: Nigerian Stock Exchange Market Pick Alerts by Intendy: 9:27am On Jan 20, 2017 |
ihedioramma: cause it MIGHT still go lower after right conclusion but the patience will be really tested |
Re: Nigerian Stock Exchange Market Pick Alerts by ihedioramma: 9:51am On Jan 20, 2017 |
Intendy:Thank's . how strong is company and what was there last payment dividend/year? ONE LOVE . |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 9:53am On Jan 20, 2017 |
carpenter: Investor's confidence is the main issue here. Because i don't see my self queuing-up at the registrar to buy an expensive stock, when i can get it cheaper on the floor. Lets see what will happen today. |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:03am On Jan 20, 2017 |
Guys what happened to Union Bank right issue. |
Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 10:29am On Jan 20, 2017 |
OBAGADAFFI: Yeah...but the shares are limited on the floor...it is just a matter of time before you can't even see them to buy except current holders decide to sell at a loss especially those that bought above 3naira. Any current holder that intends to hold the stock already has their stockbroker on speed dial |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:34am On Jan 20, 2017 |
carpenter: Well just got some more units these morning @ N2.88 |
Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 10:36am On Jan 20, 2017 |
OBAGADAFFI: Good for you, you should buy as much as you get your hands on... |
Re: Nigerian Stock Exchange Market Pick Alerts by ihedioramma: 11:44am On Jan 20, 2017 |
Re: Nigerian Stock Exchange Market Pick Alerts by realjoker(m): 11:46am On Jan 20, 2017 |
Nigerian banks are increasingly becoming worthless except on paper Nairametrics| Nigerian banks are worth more on papers these days. The industry according to Nairametrics data, has a price to book ratio of roughly 0.8x. This means the market values the financial sector 20% less than its book value. In essence, Nigerian banks are not even worth anything close to their equity. For instance, Skye Bank and Unity Bank have the weakest price-to-book ratio, which measures the stock price against the value of assets minus liabilities. Skye Bank and Unity Bank price to book ratio of 0.048 times and 0.086 times book value validates analysts’ assertions that the two lenders are technically insolvent. Both banks have been seeking ways to boost capital buffers and profitability to reverse a slump in their shares, which has left them trading at less than what investors would expect to receive if the firms. Last year, the central bank sacked the board and management of Skye Bank as it seeks to restructure the lender and avoid a repeat of 2009 financial crises that saw some banks being bailed out. The situation is nearly the same for tier 2 banks. Diamond Bank has a 0.48x, Fidelity Bank0.32x, FCMB 0.16. and Union Bank has o.31x. Of the Tier 1 lenders, FBN Holdings has the weakest valuation as it trades at 0.21 times book value. This compares with GTBank’s 1.39 times book value and Stanbic IBTC Holdings’ 0.96 times book value. Zenith Bank, UBA and Access Bank each have price to book ratios of 0.67x, 0.37x and 0.39x respectively. Nigerian banks risk continuing to have poor valuation if the economy doesn’t recover from its slumber this year. With the country still in recession and the currency crisis still pervasive it is unlikely that the market will be in a hurry to change its mind. This means policy makers will have to find a solution to the liquidity squeeze caused by a shortage of foreign exchange. Also, the 2017 budget has to be implemented in an efficient and expeditious manner in order to bolster consumer spending and enable contractors pay monies owed to banks. In 2016, Nigeria’s banking industry was in full blown crisis as bad loans spiked and capital adequacy dented on the back of default from customers that were hard hit by economic downturn. But there is a silver lining. A rebound in the price of oil due to OPEC decision to cut output could bolster banks asset quality as customers especially in the upstream oil and gas sector can repay interest on loans. More recently, shares of bank stocks have risen on the back of renewed sentiments that full year 2016 results could be better than thought. Smart money is moving him but seasoned investors will tell you the frenzy won’t last long. At least, not until Nigeria sorts out its fiscal and monetary mess. http://nairametrics.com/nigerian-banks-are-increasingly-worthless-except-on-paper/?utm_content=buffer2f38f&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 12:02pm On Jan 20, 2017 |
Volume leaders ucap 20m Oando 18m Access 11m |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 12:37pm On Jan 20, 2017 |
fxuser: This one Oando is forming full bid this morning. The Yeye stock, only good for JIJO. |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:11pm On Jan 20, 2017 |
Zenith - time to break N16 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Adesiji77: 1:12pm On Jan 20, 2017 |
Re: Nigerian Stock Exchange Market Pick Alerts by ihedioramma: 1:19pm On Jan 20, 2017 |
@Fxuser, were are they? if small bull come now they come out and start teaching . this is small bear come and teach, teachers of NSEMPA . IS ONE LOVE . 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 1:25pm On Jan 20, 2017 |
ihedioramma: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:25pm On Jan 20, 2017 |
ihedioramma: grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:30pm On Jan 20, 2017 |
FCMB - finding good support ard 1.30 |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:31pm On Jan 20, 2017 |
ihedioramma: anyone cann make money in a bull market , na bear mkt be teacher . 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:32pm On Jan 20, 2017 |
GTbank - lot of resistance before 24 ! - |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:35pm On Jan 20, 2017 |
Ucap - forming a hammer - touched 3.25 but buying pressure kicking in - lets wait till 2.15pm Eterna - nice chart - needs to break 3.50 - |
Re: Nigerian Stock Exchange Market Pick Alerts by davide470(m): 1:40pm On Jan 20, 2017 |
fxuser:Come to Mama! |
Re: Nigerian Stock Exchange Market Pick Alerts by Godisfaithful: 2:13pm On Jan 20, 2017 |
To NSEMPAs' family, Brace yourself up...Cash time! Get prepare. And don't forget to pray for our dear country, Nigeria! Please this is not an attempt for scary moment or situations...just a tip! All the best!!! 1 Like 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by spicytayomic(m): 2:20pm On Jan 20, 2017 |
Godisfaithful: oga, hope your nairaland account have not been hacked |
Re: Nigerian Stock Exchange Market Pick Alerts by Godisfaithful: 2:28pm On Jan 20, 2017 |
spicytayomic: My account is not hacked sir. It is just my candid and voluntary opinion sir. There's no need to take it serious |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 2:41pm On Jan 20, 2017 |
vol leaders access 31m ucap 24.9m oando 21m fbnh 17.4m fidelity 14m |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 2:44pm On Jan 20, 2017 |
Godisfaithful:I don't understand. Do you mean cash will flow or what. Be clearer. |
Re: Nigerian Stock Exchange Market Pick Alerts by safepaulooo(m): 3:04pm On Jan 20, 2017 |
Mpeace: Exactly.... Next week will be bullish |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 3:07pm On Jan 20, 2017 |
safepaulooo:No be small bull i sight............The dollar man is very correct. |
Re: Nigerian Stock Exchange Market Pick Alerts by lafencer: 3:16pm On Jan 20, 2017 |
@fxuser, big volumes on okomu and presco of late. any hints? |
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