Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,214,433 members, 8,022,021 topics. Date: Friday, 06 December 2024 at 02:40 AM

Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn (2627 Views)

Skye Bank Pays 20% Of Mainstreet Bank’s Bid Price / Man Who Created Own Credit Card Sues Bank For Not Sticking To Terms / N970m Suit: Zenith Bank Loses Bid To Stop Trial (2) (3) (4)

(1) (Reply) (Go Down)

Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by perewesley(m): 8:51pm On Oct 05, 2014
The Asset Management Corporation of Nigeria (AMCON) saturday announced Skye Bank Plc as the preferred bidder for Mainstreet Bank Limited.

Also, the corporation in a statement signed by its Head, Corporate Communications Strategy and Research, Mr. Kayode Lambo announced Cedar One Investment Partners Limited as the first reserve bidder and Fidelity Bank Plc as the second reserve bidder for the acquisition of the entire issued and fully paid up ordinary shares of Mainstreet Bank Limited.

This may imply that Skye Bank may resort to raising funds from the capital market through a public offer or a rights issue.

Skye Bank shares currently trade at 2.88NGN on the floor of the Nigerian Stock Exchange. I reckon that with this news, shares of Skype Bank would experience a bullish run this week.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Evagreenfields: 9:16pm On Oct 06, 2014
ok.

let's see how this plays out.

oceanic ecobank

intercontinental access

etb sterling

fin fcmb

1 Like

Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 9:34pm On Oct 06, 2014
Guys that rushed Fidelity shares on Friday would be pissed on wednesday when the market opens!
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 11:27pm On Oct 06, 2014
davide470:
Guys that rushed Fidelity shares on Friday would be pissed on wednesday when the market opens!
why do you think so? undecided
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 6:50am On Oct 07, 2014
MarvellousGod:
why do you think so? undecided
Well, they thought fidelity gonna get the bank. Skye is going up max. 15% increase before friday.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 7:50am On Oct 07, 2014
davide470:
Well, they thought fidelity gonna get the bank. Skye is going up max. 15% increase before friday.
hmmm, alright. .... So activities still go on in the capital market despite pub hos?? I listened to market report today, top gainers, losers etc... was thinking market will resume tomorrow at same prices it closed on Friday?
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Kennyfancy(m): 8:41am On Oct 07, 2014
pls hw cn I buy Skye
bank shares. ? pls somebody help
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 8:49am On Oct 07, 2014
Kennyfancy:
pls hw cn I buy Skye
bank shares. ? pls somebody help
Do you have an account with any stockbroking firm?? If yes, just give them a mandate provided there's enough money in your account. ..

If no, you have to have an account with an accredited stockbroking firm, they're the only people who can trade for ya..
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 9:25am On Oct 07, 2014
MarvellousGod:
hmmm, alright. .... So activities still go on in the capital market despite pub hos?? I listened to market report today, top gainers, losers etc... was thinking market will resume tomorrow at same prices it closed on Friday?
No, no activity during hols. The report you listened to were Friday's own.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 9:26am On Oct 07, 2014
Kennyfancy:
pls hw cn I buy Skye
bank shares. ? pls somebody help
will you even see it to buy?
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 10:02am On Oct 07, 2014
davide470:
will you even see it to buy?
lol, nobody will be willing to sel grin grin
davide470:
No, no activity during hols. The report you listened to were Friday's own.
eehhhee, my confusion has been cleared smiley smiley
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by destante(f): 8:06pm On Oct 07, 2014
davide470:
will you even see it to buy?
is it always that difficult?
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 9:26pm On Oct 07, 2014
destante:
is it always that difficult?
Not quite.. The market is driven by fundamentals and sentiments. Skye got the bid and that would impact on their Top and bottom line and as such, the rush to get the shares.

If you have Skye shares and you see it going up, would you sell it? Note, there's always a resistance level and when the price get to that point, profit taking commences and it starts reducing.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by destante(f): 4:48pm On Oct 08, 2014
davide470:
Not quite.. The market is driven by fundamentals and sentiments. Skye got the bid and that would impact on their Top and bottom line and as such, the rush to get the shares.

If you have Skye shares and you see it going up, would you sell it? Note, there's always a resistance level and when the price get to that point, profit taking commences and it starts reducing.
I see. the pressure as a result of their recent acquisition. hmm. thanks smiley
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 5:53pm On Oct 08, 2014
davide470:
will you even see it to buy?
skye bank emerged among the top trades today. .. not surprised cheesy cheesy
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 6:02pm On Oct 08, 2014
destante:
I see. the pressure as a result of their recent acquisition. hmm. thanks smiley
You are welcome. It gained 9% at the start of trading today, but closed at a 4% increase at the end.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 6:03pm On Oct 08, 2014
MarvellousGod:
skye bank emerged among the top trades today. .. not surprised cheesy cheesy
Yeah, but a lot of profit taking happened today.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by destante(f): 7:48pm On Oct 08, 2014
davide470:
You are welcome. It gained 9% at the start of trading today, but closed at a 4% increase at the end.
the entire market? or the price of skyes shares.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by davide470(m): 8:07pm On Oct 08, 2014
destante:
the entire market? or the price of skyes shares.
Just Skye. ASI Index returned negative, shed 0.26% and only d Oil/Gas sector gained.
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by destante(f): 8:40pm On Oct 08, 2014
davide470:
Just Skye. ASI Index returned negative, shed 0.26% and only d Oil/Gas sector gained.
thanks for the info smiley Jes that I will use it for nothing presently grin
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Kennyfancy(m): 12:22pm On Oct 09, 2014
MarvellousGod:
Do you have an account with any stockbroking firm?? If yes, just give them a mandate provided there's enough money in your account. ..

If no, you have to have an account with an accredited stockbroking firm, they're the only people who can trade for ya..
pls cn u give me list of stock broaker in nigeria, pls help
Re: Skye Bank Wins Bid To Acquire Mainstreet Bank For N120bn by Nobody: 12:55pm On Oct 09, 2014
Kennyfancy:
pls cn u give me list of stock broaker in nigeria, pls help
Don't have a list but you get that from NSE website. .Alternatively, check out www.gti.com.ng or www.meritrade.com

(1) (Reply)

Legitimate Side Gig That Can Fetch You 3to 5k Daily / Wise Investment Opportunities / Have Telegram? Then You Should See This

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 23
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.