First Bank's 100 Billion Naira Share Offer - Investment (7) - Nairaland
Nairaland Forum / Nairaland / General / Investment / First Bank's 100 Billion Naira Share Offer (20627 Views)
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| Re: First Bank's 100 Billion Naira Share Offer by RoughCut(m): 6:40am On Jun 13, 2007 |
@naijaking1 It`s becoming incresaingly difficult to operate in the American business environment it is probably one of the most over-regulated stock exchange and business environment in the world so this tends to discourage those who might be tempted to look across the atlantic . I understand why this is the case at least the memory of Enron, MCI and all other entities that collapsed due to fraudulaent and sharp practises of the executives with billions of dollars of investors` money is still fresh in our memory but at the same time there has to be a balance between the need to protect investors from these white collar frauds and a deregulated business environment that is conducive to business. Striking a balance i think is a very difficult task indeed. London is more business friendly For those business savvy minds out there dont overlook london personally i`m looking at South Africa and Angolan stock exchange(to be opened later this year) these are markets that have yet to attain anything like their real potentials so if you get in early the better. By the way the biggest banks in Nigeria are in the process of listing on the London stock exchange(UBA,FBN,Oceanic,Zenith,UBN and two others) |
| Re: First Bank's 100 Billion Naira Share Offer by naijaking1: 3:31pm On Jun 13, 2007 |
@roughcut thanks for the perspective. The average American is 10x more criminally minded than a naija, the only saviour most of the times are those regulations. Once you understand and appreciate those rules, the reward could be eye-popping, that is why some people say that a car company does not make profit untill it makes cars that could be certified to run in America, and that banks are just banks until they operate in America, etc. Mind you, I'm not praising America here, I'm just trying to bring a business perspective to a political reality, and possibly get some people interested in this limitless opportunity. For one, I know that forming alliances is one way companies could gain access to the US market rather easily. A lot of people (here in US) are waiting for this new frontier to open. |
| Re: First Bank's 100 Billion Naira Share Offer by naijaking1: 9:36pm On Jun 14, 2007 |
@anyone at First Bank, Abuja I'm about to buy some IPO from the FBN (branch near Karu or New Karu), just like to know if anybody is interested in getting credit for the control number, before I send my brother to that branch tomorrow. |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 12:10am On Jun 15, 2007 |
easimoni:Raising fund on its own does not dilute shareholder value, its what is done with the funds that matter. The funds that the banks raised during the recent consolidation has enabled a lot of them to take on big ticket transactions which were previously the exclusive reserve of foreign institutions. This has definitely added to share holder value. Its when unimaginative management raise money for the sake of doing so that share holder funds will be diluted as they may not be able to put the money to good use. You are right that you just dont see the sustainable competitive advantage.The factors First Bank has going for it include low cost structure, their conservative outlook which appeals to the Old Skool and their creativity (in relation to other old generation banks.) That they have continued to deliver stellar results does not surprise me |
| Re: First Bank's 100 Billion Naira Share Offer by cheexy: 2:39am On Jun 15, 2007 |
naijaking1:@naijaking, You can put the number of one staff that advertised on another thread earlier on in theoffer. I personally like the way he did his marketing and we should just help him to meet his target, that is the least we can do. The number he supplied was FPO2001856201. You never know when someone might bein a position to help. Trust me, i am not getting anything from him. I don't even know the guy. |
| Re: First Bank's 100 Billion Naira Share Offer by spoilt(f): 3:18am On Jun 15, 2007 |
cheexy: i think so too. i remember the guy's helpful post. |
| Re: First Bank's 100 Billion Naira Share Offer by egoldman(m): 6:13am On Jun 15, 2007 |
I personally have decided not to buy the this offer , i may need my money to trade other stocks or for something else in 3 to 4 months and the certificate is not likely to be posted by then , though i could use the e-allotment system, it may still not be credited to my cscs in such time frame, wish you guys that buy all the best . |
| Re: First Bank's 100 Billion Naira Share Offer by Allcorrect(m): 1:57pm On Jun 15, 2007 |
I'm about to buy some IPO from the FBN (branch near Karu or New Karu), just like to know if anybody is interested in getting credit for the control number, before I send my brother to that branch tomorrow. That guy definitely deserves credit for whatever u intend to buy, but personally speaking the guy is sound and i dont think should be in that bank. |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 2:52pm On Jun 15, 2007 |
egoldman: My point exactly |
| Re: First Bank's 100 Billion Naira Share Offer by naijaking1: 4:44pm On Jun 15, 2007 |
I tried to seek out the FBN guy, not much time available. If he is online, maybe he could contact me at yahoo. Like my bro, who's completing this transaction to meet him anywhere in Abuja. Yea, I see what @egoldman, esimoni, et al. are saying about better opportunity for investment. However, I think that not being around in naija, not being a full time stock trader, etc really makes my case unique, so I'll go for long term. |
| Re: First Bank's 100 Billion Naira Share Offer by Nobody: 9:58pm On Jun 15, 2007 |
iyken:FIRST BANK PUBLIC OFFER IS A LONG TERM INVESTMENT? THIS YEAR WILL NOT REALLY SEE A HIGH EPS FOR FIRST BANK COS OF HUGE NUMBER OF OUTSTANDING SHARES. TRY LAW, UNION AND ROCK AND BOC GASES FOR A 3-6 MONTHS INVESTMENT |
| Re: First Bank's 100 Billion Naira Share Offer by oxytech: 12:51am On Jun 16, 2007 |
Just registered right now, and I have read all the contribution to this thread intensely with pen and paper, Kudos to every single contributor especially Allcorrect, easimoni and Frankiriri, Frankiriri appears the most unbaised, unsentimental,does not go beyond his limits trying to proof or challenge, and not too opinionated, just facts- I dey hail! My opinion is: It appears that everyone is wiser and those "REAL/TRUE" good short term deals may no longer be available. I am suspecting that the few ones around now are "doctoring" things-whatever they are. If well regulated exchanges could be fooled, you can imagine what is going on in Niga emerging exchange, with teething regulations,doctored prospectus info, whilst corruption is in all facets of the WHOLE system plus country. Whether short,medium,long term the aim is usually to make most money. I think most people would prefer 80% profit in 3 places short term and liquid, than long term 100% in one place non-liquid and long term. I am based in Niga and have 5M cash and 5M loan-27% interest, totalling 10M to invest. My concerns or plans are: 1)Easimoni views are good but the "doctored" short term deals could blow ANYTIME even if u believe u have an ear to d ground. 2)If I put all d 10M in FBN, the 27% on the other 5M, will kill me if firstbank delays. 3)I was thinking of paying the 5M loan in 2 months, and having the 10M in FBN as my retirement plan although poor inflation and exchange rate may cancel the gains. 4)Buy 5M FBN, and share 5M on the floor to buy Wema and cornerstone insurance-sell these 2 in 3-4mths time. 5)Forget about the loan and just put 5M in firstBank. Which one would you do, and why?? Help needed please ATTACK each of my concerns or plans. Any comment whatsoever would broaden and help in my final decision. Cheers! |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 12:59am On Jun 16, 2007 |
If you are buying First Bank dont do so with loaned money.I am in the process of securing a loan to trade. I like to do what I call covered loans. I will only borrow as much as I can easily liquidate form my salary. The loan is just to enable me make bulk purchase. Whatever stock you are buying I suggest that you make the purchase on the floor. |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 2:20am On Jun 16, 2007 |
@ oxytech, you are right about short-term deals being harder to spot. It looks like we all have to settle down and be investors and not speculators. I won't advise you to take a loan to invest. 5M is good enough to start a portfolio. If there is a market correction (and it's really not if but when), you'll really hurt. Take Frank's advice and buy 1st bank shares on the floor and watch the price climb as soon as the tech suspension is lifted (look at the other banks), but that will take 4 months from now(?) If anything, stay away from Cornerstone. Wema might be good |
| Re: First Bank's 100 Billion Naira Share Offer by oxytech: 3:57am On Jun 16, 2007 |
@easimoni @Frankiriri Great guys, !! I am a newbie, with ZERO trading skills so pls keep commenting, EVERY comment is very much appreciated, PLEASE COMMENT ON THESE MY OBSERVATIONS BELOW I.E. DO YOU STILL MAINTAIN THE SAME ADVICE.  ??BOXING U UP-IF U HAD 5M, WHERE WOULD U PUT IT, OR WHAT WOULD U DO - NO WORRIES I'LL TAKE IT AS A COMMENT.I checked FBN shares about every 2-3 weeks as from Jan 2007: FIRST BANK PLC 33.10 32.01 -1.09 FIRST BANK PLC 33.11 32.92 -0.19 FIRST BANK PLC 35.68 37.46 1.78 FIRST BANK PLC 38.20 38.90 0.70 FIRST BANK PLC 39.00 37.05 -1.95 FIRST BANK PLC 35.25 36.89 1.64 FIRST BANK PLC 36.89 36.90 0.01 FIRST BANK PLC 39.01 39.90 0.89 FIRST BANK PLC 39.06 41.01 1.95 FIRST BANK PLC 41.90 39.87 -2.03 FIRST BANK PLC 40.17 38.50 -1.67 FIRST BANK PLC 39.49 38.51 -0.98 FIRST BANK PLC 38.11 37.55 -0.56 FIRST BANK PLC 36.99 37.59 0.60 FIRST BANK PLC 37.00 37.99 0.99 FIRST BANK PLC 36.80 37.01 0.21 FIRST BANK PLC 38.50 40.40 1.90 - 5th April 2007. They "appeared" to have stopped trading around 5th April 2007. UBA and UNION too were all fluctuating up and down during that period. Even ZENITH was crawling. Everyone has now jumped very high since then, whilst FBN had suspended trading. They all appear to have benefited seriously after May elections and the seeming stabilty, democracy and continuity envisaged. Since 5th Apr. FBN has not used up his own democracy goodwill factor, and it was at 40.40. On a chart most Banks that did IPO had very sharp price rise close to their last tradings, they looked manupulated, but FBN own looks real. The "old skool" confidence factor is also a VERY big deal. PLEASE COMMENT ON THESE MY OBSERVATIONS. DO YOU STILL MAINTAIN THE SAME ADVICE. ??BOXING U UP-IF U HAD 5M, WHERE WOULD U PUT IT, OR WHAT WOULD U DO - NO WORRIES I'LL TAKE IT AS A COMMENT.CHEERS!! |
| Re: First Bank's 100 Billion Naira Share Offer by frankiriri(m): 7:48am On Jun 16, 2007 |
First Banks price will definetely rally after the technical suspension is lifted. At the worst it should maintain a price in the 40s (if there is a market correction). The technical suspension should be lifted within a month of the conclusion of the offer. |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 3:38pm On Jun 16, 2007 |
@ oxytech, yes, you are quite right about 1st bank not inflating their shares prior to the PO. As a matter of fact, they had announced the PO weeks before the price was suspended. All the points u made are valid. My advice remains the same: do what Frank suggests. Buy on the floor and wait till the suspension is lifted. Only borrow money if you have the liver. |
| Re: First Bank's 100 Billion Naira Share Offer by femlaj(f): 7:50pm On Jun 16, 2007 |
pl can you explain why you said stay away from cornerstone, ve got loads of cornerstone, should i sell now? |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 8:10pm On Jun 16, 2007 |
I don't like the PEs of cornerstone and Crusader. Based on the new shares they listed, Cornerstone has a current PE of ~100 and Crusader has a PE of ~50. If there is a correction, high PE stocks will be the first to go. A lot of downside on those stocks. |
| Re: First Bank's 100 Billion Naira Share Offer by Nobody: 8:30pm On Jun 16, 2007 |
when does FBN offer end I still haven't recieved my rights issue |
| Re: First Bank's 100 Billion Naira Share Offer by iceman75(m): 12:31pm On Jun 17, 2007 |
Hello salsera, i think these is what u need www.naijabigoffer.com |
| Re: First Bank's 100 Billion Naira Share Offer by femlaj(f): 8:49pm On Jun 17, 2007 |
@easimoni thanks for the prompt response, i guess i'll sell my cornerstone and buy access, what do you think |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 9:08pm On Jun 17, 2007 |
@ femlaj, sorry but I'm not a fan of Access either, especially not during a PO. I think you might be better off with GTbank, Wema or UBA. |
| Re: First Bank's 100 Billion Naira Share Offer by RoughCut(m): 11:24am On Jun 19, 2007 |
First Bank may extend public offer Read------------>http://www.proshareng.com/myproshare/portal_news.php?id=2515 |
| Re: First Bank's 100 Billion Naira Share Offer by Naijalawa2: 11:32am On Jun 19, 2007 |
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| Re: First Bank's 100 Billion Naira Share Offer by RoughCut(m): 1:01pm On Jun 19, 2007 |
Naija_lawa: |
| Re: First Bank's 100 Billion Naira Share Offer by Nobody: 6:58pm On Jun 20, 2007 |
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| Re: First Bank's 100 Billion Naira Share Offer by Nobody: 7:00pm On Jun 20, 2007 |
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| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 9:20pm On Jun 20, 2007 |
EMMAACHILE: Correct guy!  I have read it and I think if N1.65M is not a big deal to you, you need to invest in this! |
| Re: First Bank's 100 Billion Naira Share Offer by RoughCut(m): 12:34pm On Jun 21, 2007 |
First Bank extends public offer till 5th July http://www.proshareng.com/myproshare/portal_news.php?id=2523 |
| Re: First Bank's 100 Billion Naira Share Offer by Panadol(m): 2:34pm On Jun 21, 2007 |
BGL Securities or Vetiva as a Stockbroker? Please pick one and why? |
| Re: First Bank's 100 Billion Naira Share Offer by easimoni(m): 2:46pm On Jun 21, 2007 |
Panadol: I've been thinking about switching to Vetiva. I love the website and have met a few people who work there. They have a young (and hopefully dynamic) staff. |
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