Stock Market Tips For Nigerians

When is IHS PP coming out?

Guys whats your take on iainsurance ? Thanks

Fo2, I can see you are online. My guy no go anywhere again atleast not for now.

Of course,IAA is a good bye now IMO 

Not so fast man,he just implied that the seeming resurgence of the bears on the floor is not going to be year-long,so be patient

Hai people, Regency allianced announced to list 4.8billion shares at N1.75 next week

What do you think? is it a good buy for the short term because market now na to thread cautiously because bears don dey vex ooo.

I concour

@ All,

Chelsea kere si number wa, won kere si number wa

Up Manchester United, Home of the theatre of dreams

 

UBA is gaining because lots people are buying. And it is because of the Dividend and Bonus declared.

It may even go Higher but the people who will enjoy the most are those who has been in it before now.

____________________________________________________________ _________________________

What is happening in the Insurance sector?

Get rid of the mask so the profit margin can rise to 500%
Duuuuuuhhhhhhhhhhhhh

ENCON to raise N60 billion through Placements
- Proposes N54.67 Kobo dividend in 2012



 

Energy Company of Nigeria Limited (ENCON) is to raise N60 billion through a Private Placement (PP), as it has proposed to give investors a N54.67 Kobo dividend in the 2012 Financial Year End (FYE). This was contained in a confidential Private Placement (PP) Memorandum of the company made available to Proshare NI today in Lagos Nigeria.

 

ENCON is offering to investors by way of Placement 3.333 billion Ordinary Shares of 50 Kobo each at N18.00 per share, selling a minimum of 50,000 Ordinary Shares and in multiples of 10,000 shares thereafter.

 

The purpose of the Placement is in pursuant of the license granted by the Federal Government of Nigeria (FGN) to ENCON to generate and distribute electricity nationwide. The company has also identified viable projects; which have been subjected to stringent and thorough evaluation/selection criteria.

 

Apart from the above, ENCON requires the N60 billion to expand its business, its strategic intents are to strengthen its funding capacities to effectively execute the proposed projects and to increase its market share in the emerging power sector by cost leadership.

 

The forecast Placement statistics made available to Proshare NI shows that ENCON would be giving its investors a N2.25 Kobo, N3.30 Kobo, N20.96 Kobo, N41.28 Kobo and N54.67 Kobo dividend payout in the 2008, 2009, 2010, 2011 and 2010 FYE’s respectively.

 

However, dividend payout will be 75 percent of distributable profits of the company in years 2008, 2009, and 2010 respectively, while same will be 50 percent of distributable profit in years 2011 and 2012 respectively.

 

Forecast Gross Revenue is expected to rise from N1.085 billion in year 2008 to N24.350 billion year 2012 indicating a rise of 2,144 percent in the period under review.

 

Profit before Tax (PBT) is to also increase from N438 million in 2008 to N11.059 billion in year 2012 showing an increase of 2,433 percent. While Profit after Tax (PAT) is expected to grow from N330 million in year 2008 to N10.382 billion in year 2012 representing an increase of 3,046 percent.

 

In the same vein, Earnings per Share (EPS) are also expected to grow from N3.96 Kobo in 2008 to N124.59 Kobo in year 2012, showing a growth of 3,046 in the period under review.

 

However, the EPS are based on the proposed post placement issued share capital of 8.483 Ordinary Shares of 50 Kobo each.

 

The three-year financial summary of ENCON as extracted from the Reporting Accountants Report shows that Turnover rose from N695.679 million in 2005 to N726.611 million in 2007 indicating a rise of 10 percent.

 

PBT also increased from N31.259 million in year 2005 to N203.707 million in year 2007 showing an increase of 552 percent. While PAT also grew from N31, 651 million in 2005 to N195.622 million in 2007 representing a growth of 518 percent in the period under review.

 

As at the time of filling in this report, without prejudice from Proshare NI, the financial figures of ENCON has not been analysed by our analyst services group. The Placement is expected to close June 04, 2008 and Issuing House is Meristem Securities Limited.

CBN releases guidelines on common year end for banks
Posted Saturday, May 24, 2008

The Central Bank (CBN) yesterday released guidelines on the proposed common year-end for banks in the country. It also directed banks to ensure that their subsidiaries comply with the common year-end.

 

A circular entitled: “Common Accounting Year-End” to the banks, the Director, Banking Supervision Department, CBN, Mr. Ignatios Imala, said: “In order to further enhance the level playing field, post banking sector reforms, it has become necessary to adopt a uniform accounting year-end in the industry.

 

As agreed at the Bankers’ Committee meeting of January 2008, December 31 has been adopted as a common accounting year-end, which should take effect from 2008.

“Consequently, the directors of all banks and discount houses are hereby advised, as a first step, to pass a resolution to that effect and inform the relevant agencies in line with S. 334 (4) of Companies and Allied Matters Act (CAMA) 1990, as amended.

 

“Directors of banks and discount houses are furthermore reminded to streamline the year-ends of their subsidiaries in line with S. 334 (5) of CAMA, 1990, as amended. Banks and discount houses are to note that internationally accepted accounting practice provides for a maximum accounting period of eighteen (18) months. In the circumstance, banks whose year ends coincide with December 31, should forward their full year’s accounts for the CBN approval not later than three months after the year-end.

 

“Those whose year ends fall between January – May 2008 are advised to submit the normal audited accounts (12 months) for the CBN approval and thereafter, submit the pro-rated period to December 31, 2008 as follows:

 

Current year end dates            Period to December 31, 2008

 

January 31, 2008                                 11 Months

February 29, 2008                               10 Months

March 31, 2008                                   9 Months

April 30, 2008                                      8 Months

May 31, 2008                                      7 Months

June 30, 2008                                     Option of 12 or 18 Months.

July 31 to November 30 2008      Elongate to December 31, 2008.

 

The audited accounts for the pro-rated period should be submitted not later than three months after the year-end for the CBN appraisal and approval for publication in line with S. 27 & 28 of BOFIA, 1991, as amended.

 

“The accounts for December 31, 2008 should be submitted latest by March 31, 2009, while failure to comply with the deadline will attract appropriate sanctions.”-

just need some advice on this stock.is it a good buy?

I HAVE LIKE 2MILLION NAIRA, AND IM PLANNING ON BUYING SOME STOCKS. PLS GURU IN THE HOUSE I NEED SOME ADVICE ON WHAT TO BUY FOR SHORT TO MEDIUM TERM.
KINDLY RESPOND

@DYABMAN
WHO IS BRINGING ALL THIS GOOD FOR NOTHING SMALL BOYS TO THIS FORUM. I DONT BLAME U ITS PS2 & PS3 U COULD THINK OF.
SEUN I THINK ITS HIGH TIME YOU START FILTERING  MESSAGE FROM THIS KIND OF DUMB HEADS.