I think there is something in the NSE we are all overlooking.
People are waking up to the NSE and everyone is pouring money into the NSE now.Even my grand mother in the village was asking me the other day if she could buy shares.With so much money around,and few companies listed on the stock market ,your guess is as good as mine,especially with the penny shares.

NSE will even continue to climb when the hedge funds come in.Every financial analyst in Europe is researching Nigeria.Today my friend who works for a research company,told me a hedge fund has commissioned them to investigate 8 Nigerian companies.I think the market will rise this year and then start to even out,except ofcourse,Yar'adua's election is annulled and a re-election leads to anarchy!!!This appears to be a major reason why Hedge Funds are not yet pouring into the country.

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The Securities and Exchange Commission (SEC) wielded the big stick yesterday saying it would suspend trading in the shares of any public quoted company that fails to dispatch share certificates or return surplus monies in accordance with market rules.
The commission also said with effect from April 1, 2008, no registrar will be allowed to administer any public company to which it is a subsidiary.
Many investors have expressed considerable displeasure which has turned into disenchantment with the capital market over deliberate delays by public quoted companies to dispatch their (investors’) share certificates several months and even years after the closure of their public offers.
Also, in instances when offers are oversubscribed, investors who are unlucky to get their full allotment of shares wait endlessly to get back their money.
In a bid to check this unwholesome trend and stamp its authority on the market, SEC yesterday said companies that violate its rules and regulations relating to the dispatch of share certificates and returned/surplus money will have their listed securities suspended indefinitely from being traded on the floor of the Nigerian Stock Exchange (NSE).
According to SEC’s rules, companies must submit their allotment proposals six weeks after the closure of an offer while certificates/returned money must be dispatched 15 working days after the date of clearance of the allotment.
These rules have been violated by many companies without any serious sanctions by the capital market regulator.
Commenting on these developments, market analysts said SEC may have awoken from its slumber by the issuance of the new directive.
Apart from suspending trading in the shares of erring companies, the commission said that such defaulting companies would not be allowed to access the market for fresh issues.
“All such defaulting companies shall not be allowed to access the Nigerian capital market until all outstanding complaints against them are cleared to the satisfaction of the commission,” SEC said in a circular to all quoted companies.
The commission has also disallowed applications for preferential allotment.
“With effect from April 1, 2008, no registrar shall be allowed to administer the register of any public company to which it is a subsidiary, a holding company, a related company or which has substantial shareholding in the said registrar or in which the said registrar has substantial shareholding,” SEC said.
According to the commission, any violation of the directives shall attract severe sanctions including the outright withdrawal of registration to operate in the Nigerian capital market.
Meanwhile, SEC has asked all investors who have not received their share certificates and returned/surplus monies in respect of all public offers that closed on or before October 31, 2007 to forward their complaints in writing to the director-general of the commission.
The commission advised such investors to enclose evidence of transactions justifying their claims, indicate the public offer and clearly mark the complaint “Non-receipt of share certificates and return/surplus” and telephone numbers.
Some of the companies whose offers closed before October 31, last year include, United Bank for Africa Plc, Oceanic Bank International Plc, First Bank Plc and Access Bank Plc.

http://www.thisdayonline.com/nview.php?id=102150

@shigidi

I think the "Sarah Connors" posting is a joke about the Arnold Schwarzenegger "Terminator" films.

@Nairalanders

What exactly is the SEC rule for oversubscription?
Is it that companies can absorb 25% of oversubscription or can absorb 25% over what they came to the market to raise?
The latter makes more sense as it is predictable and can be planned for in the prospectus.

samstone4:

@shigidi

I think the "Sarah Connors" posting is a joke about the Arnold Schwarzenegger "Terminator" films.

@Nairalanders

What exactly is the SEC rule for oversubscription?
Is that companies can absorb 25% of oversubscription or can absorb 25% over what they came to the market to raise?
The latter makes more sense as it is predictable and can be planned for in the prospectus.

The latter that makes more sense is the right one

ok.

hi people im new on the thread and ive been impressed with what ive read so far.
for the gurus ill like to know your take on Transcorp.buy or not[i][/i][color=#000099][/color]?
waiting.need the info please

@ All,

Share Certificates: SEC to Sanction Erring Firms
By Goddy Egene and Eromosele Abiodun, 02.02.2008

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The Securities and Exchange Commission (SEC) wielded the big stick yesterday saying it would suspend trading in the shares of any public quoted company that fails to dispatch share certificates or return surplus monies in accordance with market rules.
The commission also said with effect from April 1, 2008, no registrar will be allowed to administer any public company to which it is a subsidiary.
Many investors have expressed considerable displeasure which has turned into disenchantment with the capital market over deliberate delays by public quoted companies to dispatch their (investors’) share certificates several months and even years after the closure of their public offers.
Also, in instances when offers are oversubscribed, investors who are unlucky to get their full allotment of shares wait endlessly to get back their money.
In a bid to check this unwholesome trend and stamp its authority on the market, SEC yesterday said companies that violate its rules and regulations relating to the dispatch of share certificates and returned/surplus money will have their listed securities suspended indefinitely from being traded on the floor of the Nigerian Stock Exchange (NSE).
According to SEC’s rules, companies must submit their allotment proposals six weeks after the closure of an offer while certificates/returned money must be dispatched 15 working days after the date of clearance of the allotment.
These rules have been violated by many companies without any serious sanctions by the capital market regulator.
Commenting on these developments, market analysts said SEC may have awoken from its slumber by the issuance of the new directive.
Apart from suspending trading in the shares of erring companies, the commission said that such defaulting companies would not be allowed to access the market for fresh issues.
“All such defaulting companies shall not be allowed to access the Nigerian capital market until all outstanding complaints against them are cleared to the satisfaction of the commission,” SEC said in a circular to all quoted companies.
The commission has also disallowed applications for preferential allotment.
“With effect from April 1, 2008, no registrar shall be allowed to administer the register of any public company to which it is a subsidiary, a holding company, a related company or which has substantial shareholding in the said registrar or in which the said registrar has substantial shareholding,” SEC said.
According to the commission, any violation of the directives shall attract severe sanctions including the outright withdrawal of registration to operate in the Nigerian capital market.
Meanwhile, SEC has asked all investors who have not received their share certificates and returned/surplus monies in respect of all public offers that closed on or before October 31, 2007 to forward their complaints in writing to the director-general of the commission.
The commission advised such investors to enclose evidence of transactions justifying their claims, indicate the public offer and clearly mark the complaint “Non-receipt of share certificates and return/surplus” and telephone numbers.
Some of the companies whose offers closed before October 31, last year include, United Bank for Africa Plc, Oceanic Bank International Plc, First Bank Plc and Access Bank Plc.



Seems the guys at SEC don dey et ghtmareth a this PO palaver. Na people prayers dey give them those nightmare.

Imagine out of the above listed hares, na only oceanic certificate I don receive.

Fatherof2! fatherof2!!fatherof2!!!

Please contact me.

I use Tradelink too and would like to discuss an issue with you.

My email address is debenzd@yahoo.com.

Make u answer this time o! You no answer the first time!

Many thanks.

First Bank Signs MOU With Chinese Bank
Tribune
02.02.2006

IN its bid to further strengthen its leadership position in the financial services sector of the economy, Nigeria's premier Bank, First Bank of Nigeria Plc, has signed a Memorandum of Understanding (MoU) with China Construction Bank (CCB).

According to the document signed by the management of the two banks, the two institutions would work together to further strengthen the business cooperation between both parties within the framework of each party's respective articles and memorandum of association and applicable laws and regulations.

The MoU covers areas such as Credit Lines, Trade Finance, Syndication and Project Finance, Consultancy Services, Sharing of Business Experience, Training and Foreign Exchange Transactions.

First Bank Signs MOU With Chinese Bank
Tribune
02.02.2008,

IN its bid to further strengthen its leadership position in the financial services sector of the economy, Nigeria's premier Bank, First Bank of Nigeria Plc, has signed a Memorandum of Understanding (MoU) with China Construction Bank (CCB).

According to the document signed by the management of the two banks, the two institutions would work together to further strengthen the business cooperation between both parties within the framework of each party's respective articles and memorandum of association and applicable laws and regulations.

The MoU covers areas such as Credit Lines, Trade Finance, Syndication and Project Finance, Consultancy Services, Sharing of Business Experience, Training and Foreign Exchange Transactions.

@ All,

Chei, I hear sey Tantalizers wan do private placement at N5 for every N0.50 share soon.

Any comments.

@Ololufemi

Tantalizer has already done the PP.
I believe it may have closed as it was rumoured that some moneybags bought very huge chunks of it and it closed prematurely.
Not certain so you should check further but make it snappy - as we say in the special forces.

Samstone4

ololufemi:

@ All,

Chei, I hear sey Tantalizers wan do private placement at N5 for every N0.50 share soon.

Any comments.

where u dey? wey awon boys don buy tantriz finish? na university of suya be the next PP na!

First time post here been a silent reader for months,
About oceanic registrars, if you are trying to verify the recent PO certificate, you have to wait.
They have not started verifying certificates as they are still concluding the Dang Flour offer and returned funds wahala.
Went there, and was told to come back mid february,

speedy08:

First time post here been a silent reader for months,
About oceanic registrars, if you are trying to verify the recent PO certificate, you have to wait.
They have not started verifying certificates as they are still concluding the Dang Flour offer and returned funds wahala.
Went there, and was told to come back mid february,

speedy08, i like this ur name well well, make stok market speed go up this year , u are welcome. make u no dey wait for them to send the sabuke o! na hand i take collect my own, na hand i take verify am but na my broker sell am sha

MY FIRST POST; You guys na baba. I begin dey read una yarn here two weeks back. Na I'm I come see the ikeja hotel carrot. Me come run enter for N7 na im de tin begin dey do drunkman dance. Well, I don enter sha and na stay I go stay.
On Oceanic registrars, those guys need to buckle up. E be like say them dey do their personal stock business pass customer own.

Courtesy blueband

The commission has also disallowed applications for preferential allotment.
“With effect from April 1, 2008, no registrar shall be allowed to administer the register of any public company to which it is a subsidiary, a holding company, a related company or which has substantial shareholding in the said registrar or in which the said registrar has substantial shareholding,” SEC said.
According to the commission, any violation of the directives shall attract severe sanctions including the outright withdrawal of registration to operate in the Nigerian capital market.

Impressive.

Has anyone been able to view their cashcraft account online?

Has anyone been able to view their cashcraft account online?

I am getting a runtime error for Cashcraft.

blueband:

Has anyone been able to view their cashcraft account online?

I have without any isssues. They had a problem a few days ago.

@speedy08

Thanks for the info. Really appreciate it. I am sure this applies to us common shareholders not the deep pockets within Oceanic. Anyway, God dey.

One day this in justice go stop.

Welcome to the board. Wish I had known about this board last year, I would have been a different person today!

I have ben unable to view my cashcraft account since yesterday.Says application error.Is this peculiar to only me?

joshjosh:

that is one trouble i have with nigeria banks  they don't reply emails they don't pick up their phones. it is unbelievable

---and this is why I am about giving up on naija banks. Damn they are too much with dem wahalas

The biggest fraud on the society is driven by Nigerian banks.It is time the EFCC starts beaming it's lights on the banks.

blueband:

The biggest fraud on the society is driven by Nigerian banks.It is time the EFCC starts beaming it's lights on the banks.

Word

Quite unlike us.  I can see that many are not on board today, and infact since that photo was pasted.  Hope you are not scared of the photo?  It may turn out to a good sign that the BULL is around the corner

So sayest thou about the coming week.  Which stock are you looking at to buy, and why?  Please Gurus and all Gugurus tells us.  Even we spectators have our comments about the stock to take position in this coming week as I foresee a bullish trend beginning from next week.  Please don't mind that pikin, he is under treatment.  So said Atkotogun

First please note that my buys are for minimum of 1year and if NSE disbehaviour well before that time and I hit more than 50%, I suddenly turn the spreadsheet joy into real joy, and take position in another opportunity.  That's how I have been playing the game and I have been scoring.  For instance I sold my Mbenefit last Friday at N5.20, and Lasaco N5.12.  So that money is waiting for something else next week.  Since insurance stocks release their results between May and September, some prices may still come down that can give up to 50% during the result expectant week, if not for these their POs and IPOs.  For the next one year, the following stocks are cheap going by their forward projections which I always use for my choices:

Dangote Sugar
A G Leventis
C & I Leasing
Nigerian German Chemicals
First Bank
Oceanic
UBA
Bank PHB
FCMB
Diamond
Beta Glass
Flour Mills
Nigerian Breweries
Japaul (If them behave well)
NASCON
R T Briscoe
Vitafoam
Ikeja Hotels
May & Baker
Glaxo
Julius Berger
COSTAIN
Berger Paints
Guinness
Airline Services
ALL INSURANCE companies are good for CICO to augment you stakes in stable Blue Chips

Buy don't look back, the future is bright.

CAVEAT EMPTOR

blueband:

Has anyone been able to view their cashcraft account online?

@blueband.
Yes you are right. The trouble started thursday night and I have not been able to view my cashcraft account online. One would have expected them to infrom their customers of the development. Well ,lets wait till Monday, hopefully the problem will be fixed.

Surprises:

Quite unlike us. I can see that many are not on board today, and infact since that photo was pasted. Hope you are not scared of the photo? It may turn out to a good sign that the BULL is around the corner

So sayest thou about the coming week. Which stock are you looking at to buy, and why? Please Gurus and all Gugurus tells us. Even we spectators have our comments about the stock to take position in this coming week as I foresee a bullish trend beginning from next week. Please don't mind that pikin, he is under treatment. So said Atkotogun

First please note that my buys are for minimum of 1year and if NSE disbehaviour well before that time and I hit more than 50%, I suddenly turn the spreadsheet joy into real joy, and take position in another opportunity. That's how I have been playing the game and I have been scoring. For instance I sold my Mbenefit last Friday at N5.20, and Lasaco N5.12. So that money is waiting for something else next week. Since insurance stocks release their results between May and September, some prices may still come down that can give up to 50% during the result expectant week, if not for these their POs and IPOs. For the next one year, the following stocks are cheap going by their forward projections which I always use for my choices:

Dangote Sugar
A G Leventis
C & I Leasing
Nigerian German Chemicals
First Bank
Oceanic
UBA
Bank PHB
FCMB
Diamond
Beta Glass
Flour Mills
Nigerian Breweries
Japaul (If them behave well)
NASCON
R T Briscoe
Vitafoam
Ikeja Hotels
May & Baker
Glaxo
Julius Berger
COSTAIN
Berger Paints
Guinness
Airline Services
ALL INSURANCE companies are good for CICO to augment you stakes in stable Blue Chips

Buy don't look back, the future is bright.

CAVEAT EMPTOR

Na small he remain make you list the entire NSE ke The net is too wide. You should dig deeper and pick a few that you think will perform best.

Anyway, I have to disagree with you that ALL the stocks above are cheap based on forward projections from what we know now.

Examples. Japaul, CILeasing, Nascon.

I am not saying that these stocks will not do well but they are definitely not cheap based on fundamentals. Japaul is way way expensive.

Firstly,I have some unit of COSTAIN PLC shares. I qualified to purchase some 'rights offer' during the recently concluded PO exercise.
Prior to this, my broker requested me to send a scanned application addressed to the Registrar for the rights circular. I did this and kept following up with phone calls. He recently sent me a text to forget about the rights offer, without offering any explanation.What should i do?

Secondly, i have exercised restraint in mentioning the brokers name, but i owe it a duty to other members of the board simply because i opened an account with the company based on recommendation from somebody on this board.
GTI CAPITAL LTD.
They will buy you stock you did not request, they wont execute your buy or sell order, they wont reply your mails and they treat you like dirt.

Firstly,I have some unit of COSTAIN PLC shares. I qualified to purchase some 'rights offer' during the recently concluded PO exercise.
Prior to this, my broker requested me to send a scanned application addressed to the Registrar for the rights circular. I did this and kept following up with phone calls. He recently sent me a text to forget about the rights offer, without offering any explanation.What should i do?

Secondly, i have exercised restraint in mentioning the brokers name, but i owe it a duty to other members of the board simply because i opened an account with the company based on recommendation from somebody on this board.
GTI CAPITAL LTD.
They will buy you stock you did not request, they wont execute your buy or sell order, they wont reply your mails and they treat you like dirt.

Most stockbrokers will treat you like that,except you are deep pocket