Lagos Building Investment Corporation. Private Placement

The Lagos Building Investment Company Plc has floated a private placement of 1.5billion ordinary shares of N1 each at N1.20 per share to strengthen its working capital.



The Managing Director, Mr. Babatunde Jinadu, said on Thursday that the placement is being made to finance the company’s strategic business development and create mortgage for low and medium income earners, real estate developers and joint venture activities.



The placement, which opened on October 17, 2007, will close on November 28, 2007,



According to Jinadu, other uses to which the N1.71bn net proceeds from the placement would be put include upgrade of information technology, improvement in head office and branches, increase return to shareholders, establishment of new branches and to take advantage of the emerging opportunities in the housing sector of the economy.



Minimum initial subscription according to the placement memorandum is 100,000 units ordinary shares and in multiples of 10,000 units thereafter.



Upon a successful exercise, the management and board of the company have proposed a dividend of N164m in 2008, N226m in 2009 and N299m in 2010.



Its projected turnover for 2008 is N619m, N805m in 2009 and N1.13bn for 2010, while forecast profit after tax for 2008 is put at N234.m, N324m for 2009 and N498m for 2010.



However, the company has not paid dividend in about three years due to a dip in profit.

aany one know their office address? I think its at the CBD but i am not sure. I wouldnt mind making a visit ther for more info

Please has any one got any information on how to participate in this yet?

@Etin;

A copy of the application form was scanned and emailed to me but you can hardly read the text. I had intended to complete the form and scan back to someone in Nigeria that would submit the form on my behalf but that is not possible due to the sorry state of the application form.

The offer closes on 27/11/07, so unless I can identify someone coming from Nigeria (to bring a hard copy) in the next few days, this looks like non starter. What a shame though, this PP is definitely worth investing in.

Thanks

Can you upload it here then I'll see if i can improve it somehow?

@ Atilla,

You can get hard copies of the form from Skye Bank.  It would be appreciated if you can scan the hard copy on high resolution (minimum 300) and post here for our use.

@ Atilla,

The LBIC form I posted looks OK on a computer but hardly any text is visiblewhen printed. That's why it would be appreciated if you can upload a better copy. An IT friend said it should be scanned at high resolution.

Pls go ahead and upload the PP forms for Fidson and Cocoa processores. Thanks.

Find attached the application forms for FTN cocoa processors

Fidson healthcare form is too large so send me a mail and ill reply you with it.

If anybody is interested in applying for any let me know as my company CITI Investment Capital LTD  is a receiving agent to Equity offers.

Take care and happy private placing 

Ade

Hi Etin please could you send the prospectus to me.



Thanks

Finally got the full propectus and a clear copy of the form see below

@ Crownvilla

I tried to send it directly to your email address but it came back undelievered.

seems too large to upload. 14pages

Anyone who would like me to email the form should please let me know.

Thanks Etin for sending me the prospectus. Could you also send this one to me as well. If its too large to print kindly post the link of the page you downloaded it from


Thanks a lot.

I hope you are aware that the private placement was actually done last year. Have you confirmed that they met the capitalisation requirement??? That is key before you put your money in a private placement.

Etin, thanks.

Do you have the prospectus? If yes kindly e-mail to me.

@Etin,
please do send me the UNIVERSAL PP prospectus.

     ibooku200(at)hotmail.com

thanks in advance

@Etin
many thanks,you are a brothers keeper

@ Etin,
Could you e-mail the LBIC prospectus and form to me . murphy_n2003(at)yahoo.co.uk
Thanks