@blacknbold
u dont need any particular account to buy the fbn shares,just make a draft crediting the money to fbn.
though some banks might charge commissions for making the draft.

@Blackgold

Dont let anibodi deceive u, u defininetely dont need ani account to buy FBN shares or ani other share for that matter.What u nid is a form and your money either cash, cheque or bank draft, just a form of legit payment.
The only instance is when you require to cash inyour dividends, this comes in the form of a cheque and you need to pay it into an account. But for purchasing stocks either primary or secondary market account ownership isnt compulsory. Hop that answers that.

U can check with your broker and lets know if their opinion differs.

u guys are the best , i think i will have to travel to nigeria to do this myself as i cant trust anyone, thanks Guys

@blackgold

Unless u have other plans for coming to Nigeria u can buy from where u are. There are some receiving banks thatcarry out such transactions from there. If u check the amount of moni u will put into flying down that will give more units. Up to u though. Dont u have relations and stuff like that. Transfer the pay and they will buy for u with full proff of copies of the form and receipts or tellers.

The issue of trust is entirely ur personal opinion, better dont generalize it.

As easy as dat. Think bout it

@ Frank.  This a bit like comparing apples and oranges. First, Dangote was making a post IPO run and you know sooner or later it'll peak. It had even more than doubled post IPO at 40s,which is not an everyday occurrence. FBN on the other hand is still at the starting block, and with all the handwritting on the wall shows there's a lot of upside post PO. This is not a moribund stock.  Unless there's an emergency, or we are in a bear market, given this scenario and atmosphere, I'd never sell @N31. That defines my loss. I'm a long term investor anyway and not a trader. If my investment appreciates rather quickly it's an extra bonus.

allcorrect thats true but u know when stories like thief attacked me and stole the money spring up theres nothing i can do if it was 100k i don't mind but - mill , hell no

@ blacknbold

You are right. Don't commit a large amount of money to someone without a face-to-face. It's not about naija, it's just good business sense. Your ticket money could yield returns but hopefully this will be the start of lot's of deals for you.

@k2
I was not comparing DSR and FBN. What I was just saying that take any single stock, even the same FBN, the last time it went to 72 I can bet you that not many people were able to sell at that price. Most counted themselves lucky if they sold at 68 or slightly lower. When a stock gets to its peak the demand temporarilly thins out as many investors try to take profit. So that price just becomes a refernce point.
I believe that FBN is a must buyboth in the short term and the long term but I am just saying that those emergencies which are an inescapable fact of life will make some people sel at a lower price.
Someone may even buy at a price higher than the current market price if he has information that favours a short term investment.

@ blacknbold
As someone pointed out earlier you dont need to come to Naija.
FBN has arrangement for Offshore investors like you.
Just transfer the funds through any of their correspondent banks listed on the PO form and then fill and scan down the form.
You can copy a relative in Naija so that he can help you follow up.
That is what I did for my best friend that stays in the US during the Oceanic offer.

@frankiriri

the last time it went to 72 I can bet you that not many people were able to sell at that price.

I choose to strongly disagree with U. When FBN got to N72 last year, even at N67 it was veri veri unavailable, people mopped up the share and held on tightly to it, they werent selling onli few savvy investors were selling at that time, i sold mine at N65 and my broker even told me that som people had even booked for it.
After the mark down to about N34 or thereabout i wanted to buy again but still scarce until three days later when i got it at N38.

So i think things are a little diff here as it is still an emerging market

frankiriri:

@k2

I believe that FBN is a must buyboth in the short term [/color][color=#990000]and the long term ,

Mr Frank , why do you think that FBN is a must buy for the short term ? did you take into consideration the time it takes for investors to receive the certificates ?

@ Allcorrect
You are contradicting yourself.
Except you love losing why would you sell your shares at N65 when you could sell them for N72.
is it not funny that people that were holding on to their shares at N67 now sold out at N65. Moreover I did not say that nobody sold at that price, I said few people and most likely that would not include you.
Brokers would always be brokers. When you want to sell they wont see buyersn and when you want to buy they wont see sellers. But let the price be profitable enough for their account and pronto they will make the sale from their warehoused shares.
Take a pick of all the vstocks that rose astronomically and find out which one of them small players you know sold at the top you would find out that you wont see a single one.

@ egoldman
I was refering to both the IPO and buying on the floor

@frankiriri

I appreciate your responses but on this u probably you didnt quite understand the situation. The stock in question I bought when it was N24 in 2003 and what was i supposed to do when i saw it getting to N65-N67. I wasnt carried away with the 1 for 1 stuff, so I sold part of what I had made as profit. With the intention to buy back into it after the mark down.

I did that to maximize my profit and my decision was supported by my broker and I think it was the wisest thing to have done at that time. Now I ahve my 1 for 1 for the balace of my stock and I used part of the profit I made on the sale to buy me a car. Now thay are offering N31 for the right which I intend to buy lots and then sell my other balance when the suspenbsion is lifted.

So Oga frank do tell me if I am making a bad decision, I would love to hear your opinion on this.

Voila.

Can somebody please tell me when the Offer will be closing and the minimum units that can be purchased.

desorlah:

Can somebody please tell me when the Offer will be closing and the minimum units that can be purchased.

https://www.naijabigoffer.com/

This is the official PO website. It'll have all u need.

@ allcorrect
I never said you were wrong to sell the shares. I only generalised that most people never get to sell at the peak.  You sefinetly sold close to the peak.  Next time if you try using the strategy do not expect people that just bought into the stock to sell back at the equivalent of the split units. They too go wan make profit nah. Give it some time and you would definitely get the stock.
As per selling your current holding and buying it back at the Rights issue, I recommend the strategy.( Its called arbitraging).

@frank

I think u got the pix now, good. I have made more money from trading in FBN than ani other. Whats ur take on the Access Offer.

Bought N240,000 worth of it during the last offer i got the cert like a year later they gave me about 80,000 units or somting in that rang and then the 1 for 7. It took like forever to get the reconstructed cert of 1 for 2. But now i have like 50,000 units which i intend to trade once the suspension is lifted. I might just buy a little now and then wait

I cant comment on the access offer until I see the prospectus

Help.

I want to invest about N2mill into this First Bank offer. Am I best just going and buying through First Bank or should join up with a stockbroker? I am wary of getting the shares and then having to wait a long long time for a certificate before I can cash in if I so decide.

Also I will have between N3-N5 mill which I want to invest. Can anyone advise a good stockbroker?

Thanks for any advice you can offer.

@ Easimoni

I think Public Offers are a bad idea to invest in. By the time the average investor gets his/her certificate, other opportunities in the market would have overtaken you. I have never, ever bought a public offer and I never will. Not even a Dangote offer. People always point to Dangote Sugar. While the Dangote IPO was out, I invested my money in Japaul instead. I sold my 90kobo investment for N3 and re-invested in Wema which has since climbed 50%. I'm up 350% while Dangote owners are getting 100% (assuming you've even seen your certificate).

Say no to Public Offers unless your are "long-term". And ask yourself why you should think long-term in this market.





Men! You are the bomb! I can't just understand why I will go give my hard earn money to someone who will keep it for more than 6months and at the end of the day he will gives me peanuts when I can gets more than 50-200% somewhere else in a shorter time.

I join the slogan "No to Public Offers, Yes to secondary market"

i was also thinking about the buying at the PO and selling immediately after the technical suspension,

my question is what do u guys think will be the price,it will attain before it starts to dip, N45 or N50

Good idea guys but even at the secondary market, people are holding tight to their shares. How can one get shares to buy

I strongly believe that first bank will attain N50 @ least by end of August

I want to correct something real quick. There's nothing wrong in being in a long term investor once you identify a fundamentally sound stock. I see folks advocating saying no to PO and pulling in and out of stocks. If that works for you that's fine. It just means you are a trader and not an investor. While you are making this hefty returns in a short time, remember that you can also easily be burned and miss out on awesome returns long term especially when the market gets more sophisticated. To my long term folks, don't be dissuaded, that's how Warren Buffett got where he is. Where are all the day traders of the 90's on NYSE and NASDAQ and those that were mocking him? If you had invested 100k in FBN in 1994, you'd have over N10m today. Enough said.

All I can say is

First Bank? N100 Billion Offer?
Buy! Buy!! Buy!!!

Then by January next year,
Sell! Sell!! Sell!!!

Stock Gurus,
Assuming an outlay of N10m to play the market.

N5m for long term, and N5m for short term buys.

1. What are the hot stocks to buy as at June 2007.
2. What is a winning strategy to achieve at least 100% profit by year end?

K2:

I want to correct something real quick. There's nothing wrong in being in a long term investor once you identify a fundamentally sound stock. I see folks advocating saying no to PO and pulling in and out of stocks. If that works for you that's fine. It just means you are a trader and not an investor. While you are making this hefty returns in a short time, remember that you can also easily be burned and miss out on awesome returns long term especially when the market gets more sophisticated. To my long term folks, don't be dissuaded, that's how Warren Buffet got where he is. Where are all the day traders of the 90's on NYSE and NASDAQ and those that were mocking him? If you had invested 100k in FBN in 1994, you'd have over N10m today. Enough said.

You quote Warren Buffet but even he generally avoids POs (I've read his biography and follow all the news about him). I agree with you that my advice leans more toward trading than investing but what do you expect from a market where companies are raising money everday and continuously diluting shareholder value. Isn't the mantra of every successful company to maximize share holder returns instead of diluting them? I won't advice anyone to not buy 1st bank, I just think POs are a bad idea on average. There are other sound companies not out there doing POs. I don't believe in timing the market, but I believe in buying undervalued companies and selling them when they become overvalued. No Sentiments. Even Warren Buffet teaches that. And 1st Bank PO is not undervalued and they don't have "sustainable competitive advantage", something Buffet always looks for. At least I don't see it.

Grouppoint:

Stock Gurus,
Assuming an outlay of N10m to play the market.

N5m for long term, and N5m for short term buys.

1. What are the hot stocks to buy as at June 2007.
2. What is a winning strategy to achieve at least 100% profit by year end?

100% returns by YE? You're in the wrong business. No one can guarantee that unless they know something we don't. The other 2 threads on stocks are full of advice on what to buy. These are undervalued stocks with the potential for above-average returns not 100% return in 6 months guarantees.

Anyway, I like GTB & WAPCO for the long-term and I don't see any more short-term buys. Everyone is getting sharp.

I think it is better we separate facts from fiction and get well tutored in Stocks trading and investing! A seminar is coming up which in my honest opinion is a good deal. Experts from the industry and academia are coming together to slice and dice issues on the capital markets. For newbies, this is one good opportunity. Read the attached file, you are welcome

Before delving into the equity market,you need to define the platform to operate-Long,meduim or the short term.
A core investor avoids the syndrome of "Gettin it all, gettin it Now". Also note that this is a highly dynamic and vigorous environment.
For the Longterm = First Bank PO @ 80-100% ROI(Return on investment)* Bonus+ Dividend. where longterm <>8month

For the Short term=FirstInland/Mutual Benefits or Dangote Flour/Cement@ 50-88% ROI.where shortterm<>0-3months.

@frankiriri and co.

a friend of mine in UK complained about lack of Naija stockbroker in that part of the World, and I stopped by UBA NY office yesterday to see about "stockbroking" issues, and the result was unfortunate: there is not much if any naija based companies around here and possibly in UK.
It would be nice to have a UBA competitor in NY for example, and that leads to my next question.

Have you guys who know so much about naija stock market consider establishing a presence in the US?

I know that a US presence and regulations according to US laws will not only attract most of the African business around here, but also American businesses.

Just a thought.