@shidigi and temmie10

thanks for the updates,

i would take positions in wema and crusader soon,

Pls does anybody an idea when the certificates for oceanic bank would come out and what price do u think it would stabilise at?

folargbite, its a hold hold, if u want to jump in, maybe u should wait till about february or april and take position from then.
tmoni, im not sure when oceanic will be out. but i hope really soon. it should stabilise at 35 naira by november or december but if there is bonus issue(unlikely) who knows

hi guys, u guys have been very wonderful. pls does anybody have anynews about equity assurance

Its being rumoured that First Bank IPO of N100b was oversubscribed to the tune of N500b. First Bank will keep N120b and return about N380b to investors.

Now, that should be fantastic news for investors as all that money should eventually flow back into the stock exchange and give a mega boost to activities in the secondary market, right?? WRONG!!

REASON: There is also a rumour that the likes of GTB, PHB, Sterling and other banks are going to come back to the market with IPOs to mop up all those funds!!!

I think IPOs have depressed activities on the secondary market for too long, especially bank IPOS. In my own humble opinion, these banks are just mopping up funds without having any effect on the real sector. They wont give out loans to manufacturing and other companies to operate and when these companies go to the stock exchange for funds, they are starved because the banks are there mopping up funds with their IPOs!!!! One of the reasons why everything in Nigeria is imported is because manufacturers do not have the funds to improve!!!!!

Banks have recapitalised, most to the tune of well over N25b. What are they doing with all that money?? Its still not showing in the economy!! Let them give good rate loans to the manufacturers so we can see some productivity in the economy. The NSE is not a fund guzzling party to see who swallows the most funds!!!

I think SEC, NSE and other regulators should peg certain time intervals within which banks can go for IPOs. They're choking the economy and can eventually crash the market.

We don't want the stock market bubble to burst!!!!!!

very insightful. Nigerian Banks have to relax their lending guidelines otherwise they will stunt their growth.

bros marrisa,

abeg is WEMA coming to the floor soon? let us know and prepare for them oo

Tmoni:

bros marrisa,

abeg is WEMA coming to the floor soon? let us know and prepare for them oo

When will IBTC come out ohhhhhh

I don tire to dey wait oh

Folks,

If anyone has wire instructions to CASHCRAFT from the USA please post here. It is difficult to get through to speak to someone, no response to emails.

Much Appreciated!

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Na wa o! They don come o polluting this our nice blog. Please we dont need adverts here, there are other rooms for them on this forum. Keep on the good work guys esp Temmie10, easimoni, wanajo,shigidi, frankriri etc.

Please, what is the buying and selling commission for Amyn Investments & Cashcraft?

Re: Contacting cashcraft. I earlier placed the e maiil of one of the staff at Abuja Office.
eliakim.uzamere at cashcraft.com. He said to ease funds transfer to buy uniondiagnostics u will need to use a relative or friend u trust in Nig. who will help wit the transaction. Any way still contact him.

@ advertisers of get rich quick schemes. I think this is not d right place to advertise ur wares.

Thanks to d whole house for making it real on nairaland

@all
I just saw nahco's prospectus and i am not impressed o.
is there something i am missing?
shigidi et al, what do you think?

Ess:

Na wa o! They don come o polluting this our nice blog. Please we don't need adverts here, there are other rooms for them on this forum. Keep on the good work guys esp Temmie10, easimoni, wanajo,shigidi, frankriri etc.

seconded

drdaniel:

Re: Contacting cashcraft. I earlier placed the e maiil of one of the staff at Abuja Office.
eliakim.uzamere at cashcraft.com. He said to ease funds transfer to buy uniondiagnostics u will need to use a relative or friend u trust in Nig. who will help wit the transaction. Any way still contact him.

@ advertisers of get rich quick schemes. I think this is not d right place to advertise your wares.

Thanks to d whole house for making it real on nairaland

@drdaniel

Thanks for the info. I would have done the relative thing but this time it is not convenient. It will surprise me if a brokerage firm the size of Cashcraft does not have a facility to receive funds from the west with all the money pouring in from abroad. Other brokers do. Na wa.

I have not had time to really gothru it but it appears to be ok. I like the fact that thier 2007 PE is below ten and their trailing PE is about 11.

frankiriri:

I have not had time to really gothru it but it appears to be ok. I like the fact that their 2007 PE is below ten and their trailing PE is about 11.

Something's amiss.
eps for 2007 is 0.74, 0.92 for 2008 and 1.39 for 2007

Have a look at page 7 of http://cashcraft.com/NahcoProspectus.pdf

hi guys, i must really state here you all have influenced my financial habits positively. I bought Acen Insurance stocks yesterday, i would like to know if i did the right thing its not too late to amend my ways

Yes because the stock is on bid and it is very likely the price rise up in the near future although Accen is not a liquid stock

frankiriri:

I have not had time to really gothru it but it appears to be ok. I like the fact that their 2007 PE is below ten and their trailing PE is about 11.

That was definetly an error!!!!

The offer is not attractive at least in the short term. It is clearly over valued. The only attraction is that the shares on offer are quite small (120m units). That means the scarcity of the shares will persist. Dangote flour looks more attractive.

Let's wait for Japual's prospectus to pick the best out of the lot!!!!

With this new propsectus, Access Bank is looking like a bargain.

With everyone coming to the market now, it is pretty obvious that the market is over valued hence the rush by everyone to partake. A correction is definitely in sight. At the very least, expect a modest rise in index for 2008!

bibiking1:

hi guys, i must really state here you all have influenced my financial habits positively. I bought Acen Insurance stocks yesterday, i would like to know if i did the right thing its not too late to amend my ways

Are you sure that Accen met the consolidation criteria? I know that their merger with NEM collapsed!!!!

All these banks that are just coming out to mop up funds and depress the secondary market.

Meanwhile, they don't give the kind of loans they ought to be giving. They have drastically cut down the amount of funds that are available for use by Small and Medium scale Enterprises.

A have friends who tried to access the mandatory 20% profit after tax money CBN mandated them to keep aside to give out loans to SMIEES. Nasty stories all the way. Staff at the bank look at them practically as beggars, and treat them as such.

My take is that before a bank comes to start pandering about public offers, they have to show their intention to make loans accessible to those who want them. If they can't, then they should be stopped from depressing the secondary market in the name of public offers.

Perhaps Nigerians should stop buying public offers altogether in protest.

frankiriri:

I have not had time to really gothru it but it appears to be ok. I like the fact that their 2007 PE is below ten and their trailing PE is about 11.

nah Frankriri i dont think that`s right though. Should the trailing PE not be the PE for 2007 or are you making reference to forward PE in which case it would be for 2008? From what  i have seen the DPS does not seem to correlate with the EPS  or ami  talking gibberish here? Someone needs to have a look again at the prospectus

RoughCut:

nah Frankriri i don't think that`s right though. Should the trailing PE not be the PE for 2007 or are you making reference to forward PE in which case it would be for 2008? From what i have seen the DPS does not seem to correlate with the EPS or ami talking gibberish here? Someone needs to have a look again at the prospectus

There is an error in the 2007 PE figure contained in the propsectus. The EPS for 2007 was was right but the PE was wrong. Material error if you ask me.

wanaj0:

There is an error in the 2007 PE figure contained in the propsectus. The EPS for 2007 was was right but the PE was wrong. Material error if you ask me.

Material error which is capable of swinging people into not buying

To the Gurus in the house,

[size=12pt]IF you buy a share in the secondary mkt assuming this week, can you possible sell it say next week without any bottleneck beuacracy. Secondly how much would be the total deductions. (Tax,commisions e.t.c.)[/12]

KnowAll:

IF you buy a share in the secondary mkt assuming this week, can you possible sell it say next week without any bottleneck beuacracy. Secondly how much would be the total deductions. (Tax,commisions e.t.c.)

If all goes well, you can sell 4 business days after you buy. Recently, I made a big error (didn't do my homework) and sold a week after buying so I know it's possible.

Most brokers charge commissions based on the size of your transaction. The lower the value of the transaction, the more they charge. I typically pay ~2.4% (incl SEC, NSE fees) to buy and ~ 2.6% to sell. But talk to your broker for the exact figures.

@Temmie 10 and easimoni,

Whats ur top 5 insurance stocks and what do u think of Accenis(Accen insurance)

@easimoni
please, wats d minimal amount i can go to a stockbroker with?

@Temmie 10 et al
Do you guys have a position in Union Bank? What is your feeling about their prospects as to matching 1st Bank's performance. Also if you had over 30% of your portfolio in the bank would you divesting of some shares and use the proceeds in a more aggressive company.
Thanks for the input.

RoughCut:

nah Frankriri i don't think that`s right though. Should the trailing PE not be the PE for 2007 or are you making reference to forward PE in which case it would be for 2008? From what i have seen the DPS does not seem to correlate with the EPS or ami talking gibberish here? Someone needs to have a look again at the prospectus

The trailing PE should be computed using the last declared EPS. SInce the results for the year 2007 have not yet been declared any PE computed with it would be forward.
I noticed the error in the EPS calculation. Instead of stating the EPS in kobo as 30k they stated it in naira terms as 0.3.The parties to the offer really goofed, in that no one noticed the error.

Thank God we dont have to wait forever again after IPOs and POs.

In a bid to improve the efficiency of the Nigerian Capital Market, the regulatory authorities - The Nigerian Securities & Exchange Commission and The Nigerian Stock Exchange; held a meeting with stakeholders (Issuing Houses and Stockbroking Firms) in the market today and the following decisions were AGREED UPON:

1. Henceforth, all public offers would be alloted via electronic means into Investors' CSCS account, this presupposes that before investors apply for public offers they are expected to have brokerage account with a stockbroking firm.

2. Certificates would ONLY be issued if investors fail to supply their CSCS account details on the application form.

3. Central Bank of Nigeria will no longer have to go through the verification process before allotment of the shares as was the case in previous offerings. This has been a bottle neck in allotments for previous public offers because of the beureaucracy involved. However, if there is any need to verify or investigate any application this would be done after the shares has been alloted.

The above decisions have thus been taken to strengthen investors confidence in the market.

Proshareng