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ugo227 (m)
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I just heard that Zenith Bank is coming to the market, how true is it!!!!!!!!
Please can anybody please confirm.
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Etin (f)
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Proshare News and Analysis
Zenith placed on technical suspension
Posted Thursday, November 1, 2007
The Nigerian Stock Exchange, this morning, has placed Zenith Bank Plc. stock on technical suspension following the receipt of application for:
(1) a public offer of 2,025,000,000 units at N38.90 (Valued at N78, 772, 500, 000:00k);and
(2) rights offer of 1,930,317,563 units at N36.90 (valued at N71, 228, 718, 074:70k).
The total offer size is N150, 001, 218, 074.70k.
The offer is coming out at about the same time FCMB and FIDELITY arerounding off their public offer, AFRIBANk opened its offer and Bank PHB will debut. Other banks seeking funds include Sterling bank, First Inland Bank and Unity Bank.
We will keep you updated with developments.
I hope this helps.
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IykeD (m)
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Na wao.Is this the seaon of Bank IPO's.Zenith is my Bank but i am wondering what they too are looking for in the market.  |
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Princesege (m)
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Almost all the big banks are now going for IPO. Can we examine what these activities potend for investors and our banking industry in general?
I hope they are not affected by the credit crunch being witnessed in almost all the western countries.
I welcome constructive comments please.
Prince.
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Truthman (m)
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Good people,
it is a public offer and not an IPO!!!!
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wham (m)
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Yes.
Its a Public Offer (PO) and not an Initial Public Offer (IPO).
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oshkosh (m)
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I'm a little concerned. I do not believe these banks can grow their revenue at the same pace.
This will not necessary translate into better shareholder value.
This is also depressing the secondary market. I think the central bank should bring in regulation to stem
the tide. Maybe stipulating that a minimum notice of 1 year should be given to the sec, nse will help
cool this trend.
This rush to market is becoming a turn by turn business and is starting to be worrying.
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frankiriri (m)
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I'm a little concerned. I do not believe these banks can grow their revenue at the same pace.
This will not necessary translate into better shareholder value.
This is also depressing the secondary market. I think the central bank should bring in regulation to stem
the tide. Maybe stipulating that a minimum notice of 1 year should be given to the sec, nse will help
cool this trend.
This rush to market is becoming a turn by turn business and is starting to be worrying.
I don't agree with you. The opportunities for them to grow income is vast. Nigeria is still awash with a lot of opportunities that are awaiting financing. Some of them require sums in the range of billions of naira. Prevously most big ticket transsactions were packaged by Nigerian banks with foreign bankers as the main lenders, that picture is gradually changing. As far as the bank concerned has the track record of performing and they have the vision and the capacity to utilise that capital then they are welcome to come to the market as many times assituation demands. How beit, I wont deny the fact that some of the banks are just trying to meet the $1b capital requirement for managing the foreign reserve |
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Gettolove (m)
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:-\just hope the money would help grow our economy
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Babs_O (m)
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The statistics is not too bad for a BUY.  The only annoying bit is I will be able to buy fewer shares now than those who bought earlier.  |
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