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Temmie10 (m)
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Given the pessimistic view on GTB here, I'm keen to have your takes on Zenith Bank
On GTB i believe GTB probably has more ability to generate real profits than most banks because we can see GTB, their quality of service, huge customer base and customer satisfaction, unlike some other banks that have very little presence nationwide yet declare heaven and earth in their results, The problem is that right now, GTB has raised a lot of cash mostly thru offer for new shares, so its going to take a while to gain significantly on GTB. For me, its a HOLD in the short term but a BUY for long termers. Zenith zenith is a good one, the more important question is what price do you want to enter?, its on a high now, you could have bought last week for 42, There's a BIG po coming soon too |
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wanaj0
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@Wanaj0 & co
I have about 700k to buy shares but I don't know the ones to buy. Do I buy Dangote PO, Japaul etc. I am really confused.
Secondly, I have been trying to change the name on my cscs account as well as make correction on my postal address through my broker for a year without success. How do I go about this?
On your first question, it depend on your personality and your investment objective. Yet to see the full details of the Dangote flour PO. Got something from BGL but I am not so impressed. 15.00 looks expensive based on what I saw but will wait for the FULL prospectus. However, the hype will help the offer. Also only 40% of the 1.25bn shares is available for the masses. 60% will be preferentially alloted. I expect an oversubcription. Don't buy more than 30,000 units if you don't want your money returned. You should also be willing to wait for certificate and verification wahala. I am not a trader so I tend to take long term positions. Nigerian German is good for me. Flour Mills is solid. WAPCO is also attractive. WEMA is risky but if expectations are met you will get a good return. NBC is also looking attractive. Same for Longman. To maximise your profit, avoid overdiversification. That is the bane of many people. As per changing your address in CSCS, I never really bothered. CSCS does not send an info to the mailing address to start with. It is your address with the registrars that is most important. For your name, you will need an affidavit and necessary document. Your broker should be able to do this for you, |
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whitelexi (m)
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From recent stock price results, it does appear as though there is intensified competition amongst the top 3 banks on the exchange. I'm refering to UBA, Zenith, and First Banks, is this healthy?
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nossycheek (f)
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@Wanaj0
Thanks for your response. I thought that the address gets to the registrars through CSCS? If not, how do I go about that.
As for the name issue. It is not a change per se. I initially indicated Mr & Mrs which I want to remove since my husband operates
a seperate account and will require me to send a letter to my broker to ensure that the cheque does not carry Mr & Mrs for every
sales made, otherwise, I can't pay the cheque into my personal account
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enurayce
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@ All
Share reconstruction:When is it better to buy?Before or after the reconstruction.
How long does it take a certificate to be issued when u buy during a private palcement
Any info on international brew yet?
How long does it take a certificate to be issued when u buy during a private palcement
@ Easimoni,
i mean union diagonistic and clinical services
How long does it take a certificate to be issued when u buy during a private palcement
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nossycheek (f)
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I learnt that Dangote Flour mills PO is actually a bondle offer of the flour mills and pasta. And that the main flour mills is not doing so well. Does it still make a good buy?
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wanaj0
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@Wanaj0
Thanks for your response. I thought that the address gets to the registrars through CSCS? If not, how do I go about that.
As for the name issue. It is not a change per se. I initially indicated Mr & Mrs which I want to remove since my husband operates
a seperate account and will require me to send a letter to my broker to ensure that the cheque does not carry Mr & Mrs for every
sales made, otherwise, I can't pay the cheque into my personal account
For all intent and purposes, the address with the registrars is what is important. Write to the registrars requesting for a change of address from the old address to the new one. If you know your account number with the registrar it may help. As per changing from a 'joint' account to an 'individual' account, it is not that easy! I suggest you maintain it as it is. |
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wanaj0
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I learnt that Dangote Flour mills PO is actually a bondle offer of the flour mills and pasta. And that the main flour mills is not doing so well. Does it still make a good buy?
You need to see the prospectus so as to make a good judgement. Most Flour Mills have subsidiaries. Dangote flour mills will have the sack (bag) company and the pasta company as part of the subsidiaries. Cour flour milling is faced with serious competition hence reduced margins. This is not peculiar with Dangote alone. Also, growth in Dangote flour mills in terms of turnover and profit seems to have slowed down. There is however news of expansion. Whatever happens, the quantity available (500m units) to small investors is damn too small that I will really not bother my head about it. |
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shigidi (m)
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@ easimoni,
did u factor in the recent 1 for 5 bonus given by niger insurance? and also, mbenefit has a better forward pe than standard alliance doesnt it?
when would u consider it a good time to dive into these insurance stocks, m thinking december/january.
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shigidi (m)
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temmie10, do u know when exactly zenith will come to the market,thats a bank id like to take position in.
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shigidi (m)
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@ wanajo, ive seen a lot of your posts recommending BETA glass, why do u think its a good company and what are your price projections for it( whats its latest eps in what quarter)
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marco74 (m)
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Do you mean Design Union? If so, a link to the prospectus was posted on a thread a week or 2 ago. The earnings forecast looks really good (then again, don't they all?) 11k EPS after FY 2008. BUT, it won't be listed on the NSE till 2010 or so.
easimoni(the guru himself)!!.concerning this design union, the director's younger bro(who was a classmate of mine)told me about the private placement a few weeks back.do u think its worth investing a couple of millions in a company that won't be listed on the nse till 2010 like u said.i've checked their website sha,and it would appear that their designs are comparable 2 what u would see in big cities in the western world plus they've got big plans for the future. if u nor recommend that move,any suggestions?thanks. |
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whitelexi (m)
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NIPCO is not even listed in the security list, i doubt its availability on the floor. |
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frankiriri (m)
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From recent stock price results, it does appear as though there is intensified competition amongst the top 3 banks on the exchange. I'm refering to UBA, Zenith, and First Banks, is this healthy?
Definitely. The market is waiting with bated breath for the release of UBA results. I am sure it would be upset the staus quo in a major way. |
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frankiriri (m)
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I have the prospectus for union diagnostic. Its says in there that they have put in the mechanism to get listed by way of introduction by the end of year 2007. I have not had time to study it in depth ( I just got it a few minutes ago from Zenith Securities. I read the interview stockwatch did with the Akinbiyi guy and the company appears to have a bright future ahead. I will definitely take a position.
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frankiriri (m)
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I have attached the some of the pages for your review
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frankiriri (m)
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I will attach them tomorrow. Got to go
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enurayce
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@ Frankiriri
Pls i will be waiting for more details on what u can get from the prospectus(union diag)Do u think the offering price is a fair value.
Waiting for your response
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Vitastraka (m)
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Folks
Bank PHB is coming out, will you buy??
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frankiriri (m)
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The files are too large.
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stanchuks (m)
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The files are too large.
WHAT YOU DOWNLOADED IS EMPTY |
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nossycheek (f)
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@Wanaj0
Thanks once again for your invaluable advice.
Do I buy from the secondary market now or wait till november when the bears come reigning.
Secondly, what is the probability of being alloted Dangote flour shares even if I buy thru my
brokers.
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onuku
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The files are too large.
Frank, The attached file is empty. |
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frankiriri (m)
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Frank,
The attached file is empty.
The files are 1mb each and the maximmum size allowed is 200kb |
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abocana
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Frank,can u kindly help me Dangote Flour form online? i don't have any other means of getting it expect through online
I'm residing in nigeria.
Thanks very much.
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abocana
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Frank,can u kindly help me Dangote Flour form online? i don't have any other means of getting it expect through online
I'm residing in nigeria.
Thanks very much.
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frankiriri (m)
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I extracted these from the prospectus
Proft forecast
2007 2008 2009
N'000 N'000 N'000
Sales 640,159 1,353,027 1,796,586
Cost of sales 224,520 512,143 669,893
Gross profit 415,639 840,884 1,126,693
Operating expenses 147,251 390,662 505,739
PBT 268,387 450,223 620,955
Tax 40,000 67,500 93,000
PAT 228,387 382,723 527,955
Dividend 200,000 282,000 400,000
Retained Earnings 28,387 100,223 127,955
Forecast Balance sheet
Ordinary shares 660,044 660,044 660,044
Share premuim 742,500 742,500 742,500
Revenue reserve 28,387 128,601 256,564
Shareholders funds 1,430,931 1,531,145 1,659,108
Per share data
Offer price (kobo) 185 185 185
EPS (Kobo) 17.3 28.99 39.99
DPS (kobo) 15.2 21.36 30.3
PE Ratio 10.7 6.38 4.63
Actual
Proft & Loss
2002 2003 2004 2005 2006
N'000 N'000 N'000 N'000 N'000
Sales 80,156 96,802 141,916 131,986 215,382
Cost of sales 27,055 40,045 58,047 62,152 86,356
Gross profit 53,101 56,757 83,869 69,834 129,026
Operating expenses 42,416 41,015 49,562 ** 59,278 71,147
PBT 10,685 15,742 34,307 10,556 57,879
Tax 464 3,040 3,510 5,385 5,700
PAT 10,221 12,702 30,797 5,171 52,179
Retained Earnings 10,221 12,702 30,797 5,171 52,179
Retained Earnings b/f 759 * 10,980 23,682 54,479 59,650
Bonus 100,000
Retained Earnings c/f 10,980 23,682 54,479 59,650 11,829
Forecast Balance sheet
Ordinary shares 500 500 500 500 285,044 385,044
Retained Earnings 10,980 23,682 54,479 256,564 59,650 11,829
Deposit for shares 8,382 8,382 8,735
Shareholders funds 19,862 32,564 63,714 257,064 344,694 396,873
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windywendy (f)
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The files are 1mb each and the maximmum size allowed is 200kb
Frank, thanks for the compliments on my new one. I'll certainly be motivated to make more money . . . who knows, she might one day tell me that she wants to study at Harvard, and I'll have to pay tuition  About the Union Diagnostics prospectus, can you PLEASE send it to me via email at windywendy121@hotmail.comthanks in advance! |
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frankiriri (m)
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was particularly disapponted that there were errors in the financials.
The figures marked ** did not jive. I had to adjust them. The original figure for year 2004 net operating expenses is 25078. Also the retained earnings b/f in 2002 was 760.
I am quite disappointed that with the number of professionals involved in the process we get this kind of unpardonable errors.
However I beleive in the potential of the company.
About two years ago we had to do a CT scan on my grand mum and we were referred there from a big hospital in Festac. There is virtually a lack of organised competition to them. The only labs that can offer similar services would be those that attend to the powers that be. Most hospitals do not stock the kind of equipment they have. The business is definitely a growth stock.
I just hope that in future they will employ only professionals that pay attention to detail.
I am buying the stock though.
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akininNC (m)
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I am new to the forum. Does anyone have any feelings about the outlook on Afribank? I have quite a few of the shares. Any ideas on whether to hold onto uacn and uac propertiess, they both seem stagnant.
Thanks
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Financials_forecast.doc (0 KB - downloaded )
