RoughCut:

Yes you heard right and i don't think you are missing anything they are repaying the loan from the proceeds of the offer and the rest will go on working capital and it will be 70% owned by Flour Mills

I remain with the chicken that owns 70% of all eggs.

Anybody watching ikeja hotels?
Here's the problem i have with new and illiquid companies on the nse.
Its been on a freefall for a few days.
Only 3 deals worth less than 100,000 naira today and it lost maximum 5%.

FirstInland's also moving very interestingly, closed at 13.14 today

i'm extremely dissappointed with NASCON stock. i think it's really unprecedented for a stock of that calibre to continue hovering b/w its current prices without any major cojent reasons.

pumping, wanajo, Roughcut etc what can you say about this development?

@ Wanaj0



I have this question for you, this is based on the fact that I have noticed (on this thread) that you are good at jumping out of a ship before it wrecked, so when is it advisable for me to dispose my CAPOIL shares? I set my target at 300% (based on scarcity) but now that the stock is on his way to 400% without any fundamental do I bail out now or still wait to ride the bull knowing fully well that the stock is not liquid.

Temmie10:

Anybody watching ikeja hotels?
Here's the problem i have with new and illiquid companies on the nse.
Its been on a freefall for a few days.
Only 3 deals worth less than 100,000 naira today and it lost maximum 5%.

FirstInland's also moving very interestingly, closed at 13.14 today

Ikeja Hotel - There are only 3 deals possibly because there are more people trying to sell but no one is willing to buy.

For the record, the stock has been falling almost consistently for the past 3 weeks. From a high of 8.20 on the 15th of October to close at 4.76 today.

The declared result in my opinion did not justify the hype. So I suppose you are right that the sharp rise in price may have been due to the fact that the stock is illiquid.

crazyT:


@ Wanaj0

I have this question for you, this is based on the fact that I have noticed (on this thread) that you are good at jumping out of a ship before it wrecked

Yes, you could not have put that better!!!

crazyT:


@ Wanaj0



I have this question for you, this is based on the fact that I have noticed (on this thread) that you are good at jumping out of a ship before it wrecked, so when is it advisable for me to dispose my CAPOIL shares? I set my target at 300% (based on scarcity) but now that the stock is on his way to 400% without any fundamental do I bail out now or still wait to ride the bull knowing fully well that the stock is not liquid.

pumping777:

Yes, you could not have put that better!!!

Not many people will survive a ship wreck so don't wait till one will happen.

I tend to be realistic when I see a winner that has become over valued without any reason!

Really, a lot has to do with your emotions. if you jump out now and you see further 400% growth how would you feel?

Back to capital oil, I think it is a company benefitting from the current energy crisis. At least, I see their trucks on the road unlike NOSPETCO. I think that they control the easten market for petroleum products.

The number of units that you have will determine your strategy. Since you are already above your exit price, you can sell betweem 30% - 50% to lock in profits while you watch further. Nothing to show that the price will come down at elast for now. Sell some so as not to be faced with a stock that no one is buying.

Please can anyone share the results of UNIC?

crazyT:


@ Wanaj0



I have this question for you, this is based on the fact that I have noticed (on this thread) that you are good at jumping out of a ship before it wrecked, so when is it advisable for me to dispose my CAPOIL shares? I set my target at 300% (based on scarcity) but now that the stock is on his way to 400% without any fundamental do I bail out now or still wait to ride the bull knowing fully well that the stock is not liquid.

That is why he is still with us on nairaland!

steeviee:

i'm extremely dissappointed with NASCON stock. i think it's really unprecedented for a stock of that calibre to continue hovering b/w its current prices without any major cojent reasons.

pumping, wanajo, Roughcut etc what can you say about this development?

Will this sad development have anything to do with the stunt Dangote pulled sometime back in July i believe selling his personal holding in NASCON in a one-day spectacular and a lot of peeps rushed in to buy and jerked up the price in the process i have just had a look again at the share price trend it's being downhill since from a lofty N26 to an abyssmal N15

Nigeria we hail thee!

Nascon is undergoing restructuring.
I expect the full year result to show considerable improvement over the half year.
the half year itself was a giant leap from previous earnings.
If that doesn't happen, then one can conclude that it's a disappointment.
I dint buy the sale tho, my greedy stockbrokers bought for themselves and now they're winging

RoughCut:

Will this sad development have anything to do with the stunt Dangote pulled sometime back in July i believe selling his personal holding in NASCON in a one-day spectacular and a lot of peeps rushed in to buy and jerked up the price in the process i have just had a look again at the share price trend it's being downhill since from a lofty N26 to an abyssmal N15

Nigeria we hail thee!

99% of those that bought NASCON did without any analysis due to the dearth of information. At the end of the day, hype will go and the fundamentals will stand. Why should NASCON be above 15.00??

Well, they are planning an offer. Union Dicon is also having problems. That shows that all is not well with that sector. Me I will siddon look. Not sure that risk was worth taking.

whitelexi:

@Easimoni

Do you agree with wanajo? Anyways, i'm in the insurance sector for long keeps, but if things are going to go wrong, i might as well sell when things get slightly better.

I think Ins Coys are at the two ends of the spectrum. Some are ripe for a bull run (by now you know my list   Crusader, M Benefits, Law Union) and some may crash and burn. I think the picture there is largely incomplete but I have done as much homework as I can and I'm buying into the three Coys mentioned above. Only for risk takers.

Dangote made a quick bucks. Hype was simply sold to the hungry public cos of the result of Dangote Sugar.

easimoni:

I think Ins Coys are at the two ends of the spectrum. Some are ripe for a bull run (by now you know my list   Crusader, M Benefits, Law Union) and some may crash and burn. I think the picture there is largely incomplete but I have done as much homework as I can and I'm buying into the three Coys mentioned above. Only for risk takers.

Well well if you have taken the risk to have 80% of your portfolio in WEMA and you seem to have come out smelling of roses i'm inclined to go with you on this one!

To be sincere i dont  hold any insurance stocks _{waiting till next year}  but i think that is about to change now

wanaj0:

99% of those that bought NASCON did without any analysis due to the dearth of information. At the end of the day, hype will go and the fundamentals will stand. Why should NASCON be above 15.00??

Well, they are planning an offer. Union Dicon is also having problems. That shows that all is not well with that sector. Me I will siddon look. Not sure that risk was worth taking.

From N26 to N15 That is a 50% drop , thats  No No. If one is not carefull NSE can wipe off one's gain in one swoop

dj4wealth:

Dangote made a quick bucks. Hype was simply sold to the hungry public because of the result of Dangote Sugar.

Dangote is paying himself a dividend of N2.8B every quarter on this stock because he still has 70 or is it 75%? holding in Dangote sugar

RoughCut:

Dangote is paying himself a dividend of N2.8B every quarter on this stock because he still has 70 or is it 75%? holding in Dangote sugar

See another dimension of the chicken and the egg?

yodiyokun:

From N26 to N15 That is a 50% drop , thats  No No. If one is not carefull NSE can wipe off one's gain in one swoop

You dont need NSE to wipe off your gains for you! this is what happens when peeps dont do their homework and go with the hype (herd mentality)

Lets remember that Dangote did not offer to sell Nascon.
It was NSE that approached him to offload some of his units because Nascon was extremely illiquid and demand was high
Give the man some breathing space

Came across this report on FCBM that offers some insights into how much they are paying for CSL compared to CSL's revenue and book value.  As expected,  the valuation for CSL is a little bit rich (CSL's book value is $2.2mm, PAT for 2006 was $0.9mm; PAT for 8 months 2007 is $4.9mm) meaning that FCMB is paying close to 50x book value for CSL (are they not paying N12 billion or so?) .  CSL has about $100 million under management and 33,000 clients.  The report is alot better than most report that just restate what is in the prospectus; at least it gives new information that is not available in the prospectus.

Temmie10:

Lets remember that Dangote did not offer to sell Nascon.
It was NSE that approached him to offload some of his units because Nascon was extremely illiquid and demand was high
Give the man some breathing space

Dangote is not to blame. He did not force people to buy. I blame those that bought without checking what they're buying.

RoughCut:

Well well if you have taken the risk to have 80% of your portfolio in WEMA and you seem to have come out smelling of roses i'm inclined to go with you on this one!

To be sincere i don't  hold any insurance stocks _{waiting till next year}  but i think that is about to change now

The insurance companies are churning out good Q-3 results and in a timely manner too. I think the best potential for growth is in this sector right now. It will be better though if the companies can be transparent with the numbers of shares outstanding. Who has seen the result for Unic? I'm waiting for the first(?) insurance company to run foul of good earnings.

Nascon is a stock to be wary of. The fundamentals don't add up. With a projected PAT of 1.1B and at least 2.2B(If not more) outstanding shares it does not look like good value even at N15.

Yodiyokun. I noticed you're in Canada. Are you in the TO area? Maybe nairalanders in the TO area can network. My email is tbanjoko@hotmail.com.

Toyibanj

hispy99:

Came across this report on FCBM that offers some insights into how much they are paying for CSL compared to CSL's revenue and book value. As expected, the valuation for CSL is a little bit rich (CSL's book value is $2.2mm, PAT for 2006 was $0.9mm; PAT for 8 months 2007 is $4.9mm) meaning that FCMB is paying close to 50x book value for CSL (are they not paying N12 billion or so?) . CSL has about $100 million under management and 33,000 clients. The report is alot better than most report that just restate what is in the prospectus; at least it gives new information that is not available in the prospectus.

The Lord bless you bro i guess this puts a different slant on the FCMB offer will be dissecting the report with a very fine tooth comb

@pumping
you're quite right abt Nascon not adding up.
But you have to look back. Its a similar case to the insurance companies.
Before merging with dangote salt, Nascon's half year PAT was 4m naira or so. Now its 500m.
The restructure is what has been priced into the stock price.

hispy99:

Came across this report on FCBM that offers some insights into how much they are paying for CSL compared to CSL's revenue and book value.  As expected,  the valuation for CSL is a little bit rich (CSL's book value is $2.2mm, PAT for 2006 was $0.9mm; PAT for 8 months 2007 is $4.9mm) meaning that FCMB is paying close to 50x book value for CSL (are they not paying N12 billion or so?) .  CSL has about $100 million under management and 33,000 clients.  The report is alot better than most report that just restate what is in the prospectus; at least it gives new information that is not available in the prospectus.

@Hispy,

This report has a lot of information, things not stated in the prospectus. Anyway, it was prepared by a company in UK, from the content of the report it goes to show that some of our analysts don't have all the nitty gritty information and they need to improve on the quallity of information they provide to the public.

Thanks Hispy.

pumping777:

The insurance companies are churning out good Q-3 results and in a timely manner too. I think the best potential for growth is in this sector right now. It will be better though if the companies can be transparent with the numbers of shares outstanding. Who has seen the result for Unic? I'm waiting for the first(?) insurance company to run foul of good earnings.

I have digested the SEC website and with the exception of companies that merged (e.g Crusader), the outstanding shares of most companies can be deduced. Did you get my excel s.sheet on the other forum?

Wanaj0,
Easimoni seems bullish on some ins. stocks and has declared the ones he has bought or buying. Could you too do the same even though you seem less bullish.
When do you think we bail out of Wema, for fear of TS.

toyibanj:

Yodiyokun. I noticed you're in Canada. Are you in the TO area? Maybe nairalanders in the TO area can network. My email is tbanjoko@hotmail.com.

Toyibanj

Toyi,

Spammers go wire you tire with that your email address.

My email is on my profile and yes I work downtown TO, Opposite Union Station, but I live in "Mrs Saga."

yodiyokun:

@Hispy,

This report has a lot of information, things not stated in the prospectus. Anyway, it was prepared by a company in UK, from the content of the report it goes to show that some of our analysts don't have all the nitty gritty information and they need to improve on the quallity of information they provide to the public.

Thanks Hispy.

Yes, it's by a firm based in the U.K and it offers a lot more than what you get from our traditional broker. I thought it was an interesting read too, makes me think about the PO all over gain

easimoni:

I have digested the SEC website and with the exception of companies that merged (e.g Crusader), the outstanding shares of most companies can be deduced. Did you get my excel s.sheet on the other forum?

Most of the companies merged or acquired others. Some did rights/public offer with different levels of success. Some spurned off certain segment of their businesses.

toyibanj:

Wanaj0,
Easimoni seems bullish on some ins. stocks and has declared the ones he has bought or buying. Could you too do the same even though you seem less bullish.
When do you think we bail out of Wema, for fear of TS.

I have UNIC, NEM and AIICO. Note that I bought them at relatively cheap price some 15 months ago. Not bought anyone this year. Sold part of my holdings this year in those companies when they were at their year high.

Me I don't have the fear of Wema. Sold what I need to sell to lock in profits and moved to something else.