First Bank's 100 Billion Naira Share Offer - Investment - Nairaland
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| First Bank's 100 Billion Naira Share Offer by freelance(m): 10:31am On Mar 20, 2007 |
First Bank is hitting the market soon with a proposed 100 billion rights issue and Public offer of ordinary shares. I am not yet sure of the pricing of the offers but i hope First Bank sets a very appropriate and moderate price in the best interest of the bank. Anyway First Bank is a very strong bank, anyday anytime. What do you guys feel about this offer?   |
| Re: First Bank's 100 Billion Naira Share Offer by samik(m): 12:17pm On Mar 20, 2007 |
First bank is truely the first. This offer is going to be yet another fabulous opportunity for SMART entrepreneurs here in Nigeria. Let's watch and see, |
| Re: First Bank's 100 Billion Naira Share Offer by 40th: 10:29am On Mar 22, 2007 |
I wanted to start a fresh thread but I stumbled across this one, so lets just continue. Off the record, Firstbank is actually looking for around 200b Naira, and we will reach that goal. This is going to be the biggest share offer ever in Nigeria, not too sure about Africa though,but probably even in West Africa by far. The price hasn't been fixed yet and that will determine the success or otherwise of the offer. I'm going to upload an application form as soon as I can get my hands on it, so that interested investors can just download and walk into any of our branches or issuing houses and submit after completion. Nairalanders, please buy these shares and watch your stock grow and your investment appreciate in record time. Firstbank's record is second to none in the banking industry, so you can't go wrong with this one. More info later!!! |
| Re: First Bank's 100 Billion Naira Share Offer by Seun(m): 10:33am On Mar 22, 2007 |
Anyway First Bank is a very strong bank, anyday anytime.I doubt it. Any business that treats its customers badly cannot be strong. Aferall, UBA wasn't stronger than STB! |
| Re: First Bank's 100 Billion Naira Share Offer by oIo(m): 10:43am On Mar 22, 2007 |
Seun: Seun i don't agree with you on this. I think Firstbank is really a strong bank financially. Agreed they have some issues with excellent customer service - this can be improved upon. As compared to other banks with excellent customer services, Firstbank sure leads the pack. I hope they will be able to manage the 100billion they are looking for, 100billion is no small money, I just hope they would employ more and more people into the bank instead of using cheap labour, it's a good offer anyday, |
| Re: First Bank's 100 Billion Naira Share Offer by freelance(m): 11:41am On Mar 22, 2007 |
I doubt it. Any business that treats its customers badly cannot be strong. Aferall, UBA wasn't stronger than STB! @ Seun Guess you have some similarities with First Bank. But on a serious note First Bank is really improving,upgrading their services and trying to re-engineer and build a stronger and more formidable Bank. If you say First Bank treats its customers badly then what you would say about union or afribank. First Bank is truly the First anyday anytime. Godspeed!!! You will succeed!!!! |
| Re: First Bank's 100 Billion Naira Share Offer by crazyjay1(m): 11:49am On Mar 22, 2007 |
I guyz UBA is still leading with a target of one trillion naira |
| Re: First Bank's 100 Billion Naira Share Offer by tunmininu(f): 11:56am On Mar 22, 2007 |
very good,i can't wait.pls guys,when will it be out?, so that i can be saving towards it. |
| Re: First Bank's 100 Billion Naira Share Offer by egoldman(m): 12:26pm On Mar 22, 2007 |
40th: well 40th i have few questions, what should those of us who have first bank shares for now do ,cos am sure as they would offer it at discount ,the price of the shares on the exchange floor might go down . another questions also is this ,what of those that would want their certificates to be credited to their cscs account ,how long would it be for them to be credited wit their shares ,i guess thats what is called E-PO (i might be wrong ) answers to these question would decide if i go for first bank shares or not ,cos i hate to be tied down cos of the delays in receiving the certificates . |
| Re: First Bank's 100 Billion Naira Share Offer by caringchi(f): 2:46pm On Mar 22, 2007 |
d problem i ve wit 1st bank is dat their staff do not treat customers well. i may be wrong, but, i used 2 go 2 one of their branches at Aba to deposit money 4 my mum. it was never a 1derful experience n i vowed never 2 have anything 2 do wit them i may stil buy d shares, but, opening an account. no wayyy |
| Re: First Bank's 100 Billion Naira Share Offer by jiggo(m): 2:52pm On Mar 22, 2007 |
well first bank can decide not to be customer frendly, since they already have enuff customers [that xplains their not into aggressive marketing like d new generation banks], d same with Wema, Afribank & co, U no those folks have old school folks's trust, so they have d moni with dem, and dont need more customers [like d 1,000depositors], that even explains ao difficult it takes to open account with 1st Bank [ordinary Savings o] UBA - Trillion indeed?, hmm, make i no talk |
| Re: First Bank's 100 Billion Naira Share Offer by dolami(m): 6:26pm On Mar 22, 2007 |
When will first bank be out? Any how sha the current one is Oceanic and UBA . Which one is a good buy? plz reply 4 me to know where to put my small money. thanz |
| Re: First Bank's 100 Billion Naira Share Offer by Tmoni(m): 9:45pm On Mar 22, 2007 |
i was informed that oceanic is a better buy so, my money goes cecilia's way  |
| Re: First Bank's 100 Billion Naira Share Offer by egoldman(m): 7:44am On Mar 23, 2007 |
any estimate of how long it takes to get the damn certificate ? |
| Re: First Bank's 100 Billion Naira Share Offer by mj(m): 8:36am On Mar 23, 2007 |
This is the opportunity that I have been waiting for, I cant miss it this time around.Thanks for informing we at nairaland. |
| Re: First Bank's 100 Billion Naira Share Offer by McDoe(m): 8:55am On Mar 23, 2007 |
Seun:Seun, have you entered any FirstBank shop lately. If you do, you will experience real 'customer service' at its best. First Bank has transformed in terms of service delivery. What I expect them to also do is to look at staff welfare with a view to harmonising same with other operators' packages in the industry. |
| Re: First Bank's 100 Billion Naira Share Offer by stranger29(m): 10:55am On Mar 24, 2007 |
I THINK TONY ELUMELU TAKES US TO BE MUGUS WHO DONT KNOW WAT TO DO WITH MONEY THAT HE PUT HIS SHARE PRICE AT 35NAIRA,I WILL RATHER BUY FIRST BANK AT 40 THAN BUY UBA @ 35 . I THINK I WILL PATIENTLY WAIT FOR FIRST BANK . |
| Re: First Bank's 100 Billion Naira Share Offer by 40th: 7:04pm On Mar 24, 2007 |
@ Egoldman, existing shareholders get what is called a rights issue, meaning you get a little discount on the price of the shares. Generally it takes about 12mths b4 you get your certificates because all the bodies concerned have to verify each transaction before allotment of the shares. This is also to keep the stock price stable, because the shares will be sold at a little below their current market value. It would be crazy if someone got his certs instantly and tries to sell them off to make a killing. By the time you get your certs, the price would've stabilised again. @ Seun, There's a transformation taking place in "The New Firstbank". We've started by infrastructure upgrades, as well as staff re-orientation. Those that are too stiff are being ushered out. The change is gradual, but we'll get there!!! @ Jiggo, We have started marketing but it's not that irritating, badgering that some of the competition engage in. I can tell you that my target is 50m, but with the elephant behind me, I'm taking my time and I'm not under stress. We still need more customers, we're not that "ahead" anymore. |
| Re: First Bank's 100 Billion Naira Share Offer by egoldman(m): 8:35pm On Mar 24, 2007 |
40th thank you for your detailed response , so what about this E-po ? is it same as asking that your share cert be credited to your cscs account ? |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 8:39am On Mar 25, 2007 |
There's nothing that says an offer has to take 12 months. All offers are officially within the three - four months range. Once the allotment is approved and announced the share certificates should get to you within a month. People that bought Dangote, which opened in November have already started receiving their shares. Bank offers usually take longer than others because the CBN has to verify the offers. To ensure that you receive yours fast use the E-PO option. Just fill out the name of your broker and CSCS number in the spaces provided. |
| Re: First Bank's 100 Billion Naira Share Offer by Seun(m): 10:03am On Mar 25, 2007 |
McDoe & 40th, I appreciate the fact that you even bothered to post here. Maybe First Bank is improving afterall! |
| Re: First Bank's 100 Billion Naira Share Offer by egoldman(m): 1:52pm On Mar 25, 2007 |
Yeah, maybe the posts on Nairaland is being noticed by the management of FirstBank |
| Re: First Bank's 100 Billion Naira Share Offer by tundysho(m): 7:40am On Apr 07, 2007 |
IF you have say N200,000 ,I WILL ADVISE you invest 150,000 in oceanic and the remianing in 1st.the reason is that 1st has gotten to a very high price while oceanic is still below the N20 margin which has a potential of rising beyond N35,WHICH IS HIGHLY POSIBLE.by the time oceanic share rise to N33 YOUR INVESTMENT WOULD HAVE DOUBLED,but before 1st can get to say N80,men,it might take a very long time as for banks like UNION their customer care has gotten to an all time low,their staffs are turning the bank to the moribond Nigerian civil sercive.A situation where by you will have to beg a cashier before she can attend to you is really annoying.If any senoir official of the bank is out there you will be doing your bank a very good thing by investigating one of your staff in your branch in Trans Amadi(mother cat branch),Port-Harcourt ,she is a cashier that recieves money to be sent to other customers.the cashier is in the counter that has 2 doors before you get there.she prefares to be reading newspaper other than to attent to customers.i went to pay in some money,she was reading news paper and she refused to attend to me,i had to beg her for some mins before she reluctantly attended to me.please do something about this lazy woman |
| Re: First Bank's 100 Billion Naira Share Offer by LondonCool(m): 5:45pm On Apr 07, 2007 |
40th: First Bank had started this transformtion publicity stunt since 1999 when they launched their Century II project-what is the end result ? They are first on balance sheet results and last when it comes to staff salary . Didn't the Ex-Director Alhaji Wanka bring all his Ex-FSB Bank staff and infiltrate all the senior managerial positions in the name of injecting fresh blood into the "Elephant"-whats the result?. First Bank is just a training school for other banks to take their pick of brilliant but poorly paid staff every year. If Atedo Peterside had joined First Bank in 1980 by now he would have been an OG1 Bank Officer dreaming of climbing the SMP scale. The good performance of First Banks stock has nothing to do with the internal dynamics of improvements in staff salary or technology. |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 5:59pm On Apr 12, 2007 |
Please see the foolowing sites First Bank applies to raise N99.3bn from capital market http://punchng.com/Articl.aspx?theartic=Art20070411023465 |
| Re: First Bank's 100 Billion Naira Share Offer by Nobody: 3:08pm On Apr 13, 2007 |
Hey guys dont let UBA deceicve you with the so called 1TRILLION Naira financial statement what it simply means is that that is how much they intend to me over a period of 5 years. 1ST bank is still the biggest and the most financial stable bank. this there current offer is the biggest ever witnessed in the Nigerian stock market. The offer is 33 naira per share a minimum of 1000units. It is a good buy so you guys should make the best use of this opprtunity |
| Re: First Bank's 100 Billion Naira Share Offer by joshO: 4:10pm On Apr 13, 2007 |
The other plus for First Bank is that you're likely to get all that you apply for. There's N100 Billion is no small change. Also I expect a much quicker capital appreciation for First Bank as the financial year ends soon. I think N33 is a good deal. See no reason why it should not go for N50 in 5 - 6 months time. |
| Re: First Bank's 100 Billion Naira Share Offer by DisGuy: 5:34pm On Apr 14, 2007 |
IF you have say N200,000 ,I WILL ADVISE you invest 150,000 in oceanic and the remianing in 1st.the reason is that 1st has gotten to a very high price while oceanic is still below the N20 margin which has a potential of rising beyond N35,WHICH IS HIGHLY POSIBLE.by the time oceanic share rise to N33 YOUR INVESTMENT WOULD HAVE DOUBLED,but before 1st can get to say N80,men,it might take a very long time thats a good point @ tundysho esp for short and medium term investors |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 5:55pm On Apr 16, 2007 |
Dis Guy:  |
| Re: First Bank's 100 Billion Naira Share Offer by seggywilly: 8:32am On Apr 18, 2007 |
when is the date? i want to know the exact time they are starting, |
| Re: First Bank's 100 Billion Naira Share Offer by jossygirl: 8:03am On Apr 19, 2007 |
Hi co nairalanders, i do work with 1st bank and want to inform u that the share offer will be out officially on the 5th of may. begin to prepare with your money but pls i have been given a target of 20million to meet so i will appreciate it if my dear nairalanders will purchase their shares through me. the moderlities i will give you with time. |
| Re: First Bank's 100 Billion Naira Share Offer by Obamedo: 8:13am On Apr 19, 2007 |
@jossygirl Please keep me informed of the modalities for buying shares through you, i wonder however what the advantages are of going through you rather than my broker Will i be able to register my shares on CSCS immediately? I dont want to wait for months before a certificate is posted out to me Good luck in your quest |
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