@ Wanaj0
i will like to know what you think of Sterling Bank Plc and livestock feeds plc, i actually took to your advise and asked my broker to get me Nigerian German Chemicals,but he suggested sterling bank and from fundamentals that i have gone through on this forum i also asked him to get me livestockfeeds

I will be grateful if anyone one in the forum has some kind of information that will strengthen what my broker told me yesterday,i have actually sent a buy order for these three stock

dollyp1cute:

Okay the good times are here for the NSE, First Bank offer merely completed in July, hopes this means early release for share certificate.

With FBN attempting to absorb N500B? You wish! I had to read it 3 times. and it still reads N500B. Amazing!

@ Stanchuks,
Forget that gist on livestock feeds. The EPS calculations Emaachile used last week did not inlcude the additional 500M+ shares that the company sold during last year's rights issue. He used the current number of shares (24M). If you get the full picture, it's not so enticing.

easimoni:

With FBN attempting to absorb N500B? You wish! I had to read it 3 times. and it still reads N500B. Amazing!

that is 400% over subscription ke.

What great plans do they need that amount of capital for? Talk about dilution

easimoni:

With FBN attempting to absorb N500B? You wish! I had to read it 3 times. and it still reads N500B. Amazing!

Is it a serious proposition that FBN will absorb N500B? that is half a trillion naira! cant even begin to imagine how many shares will have to be listed to support that. Probably they will just keep the stash of cash in their reserves and in the near future spalsh the cash to buy back back the shares. If this is true it will be a long time before there is any significant appreciation in shaare price the shares are just too many well, well i will watch the space

Well i think we can agree that there is only one biggest bank in Nigeria in that case.
And its FBN (if the 500 BN is true), they can only get much much bigger,

strange that FBN operates with so much and competes with sterling, wema et al who still live on Soludo's stipends. Now they dont have a choice than to come to the market OR find some foreign angel investor OR merge OR be acquired,

Fewer banks on the way Nigeria!

@ Roughtcut, you think they'll use the money to control shares prices? It wouldn't surprise me. Can't think of what else they plan to use the money for. Me thinks they should launch a bid for CitiGroup Wouldn't that be something.

If it's really 500B, they'll have to add an additional 12B shares and get up to ~23B total.

Holla all, pls whata wrong with the cscs website? i cant access any more.

should i register with FALCON SECURITIES? or there is a better one. Advice pls

easimoni:

@ Roughtcut, you think they'll use the money to control shares prices? It wouldn't surprise me. Can't think of what else they plan to use the money for. Me thinks they should launch a bid for CitiGroup Wouldn't that be something.

If it's really 500B, they'll have to add an additional 12B shares and get up to ~23B total.

If the rumour is true then it will bode well for the Nigerian Economy. They should be able to extend credit to the econonmy and thereby trigger off greater production.
The N500billion is not too much for them. FBN as the largest bank in Nigeria would still be trailing behind the largest bank in Africa,Standard Bank group, which has a capital base of $6.51b.

@SPICIE
IF YOU HAVE 250,000 NAIRA, YOU CAN GO TO APT SECURITIES. THEY HAVE ONLINE ACCOUNT WHERE YOU CAN MONITOR YOUR STOCKS. I WAS IN THEIR OFFICE YESTERDAY AND EVERYTHING THERE SEEMS TO BE GOING ON FINE.
I MET A CLIENT THERE AND HE TOLD ME THEIR SERVICS ARE EXCELLENT

@ALL
STERLING BANK DOES NOT SEEM TO BE A GOOD INVESTMENT AS AT NOW. KEEP YOUR MONEY FOR EITHER DANGOTE FLOUR PO OR JAPAUL OIL OR WAIT FOR STANDARD ALLIANCE FOR A PERIOD OF ONE YEAR INVESTING

ASHAKA CEMENT PROJECTED PRICE IS 58 NAIRA. THUS ALL WITH THE STOCK CURRENTLY SHOULD EXIT FAST.
CLICK HERE TO READ REPORT IN PDF FORMAT
http://www.wikifortio.com/632304/ASHAKA+CEMENT.pdf

Anyone know about this newly listed Airline Services and Logistics company? They don't seem to have a web site , perhaps the brokers and experts in our midst might know about their financials/performance and future outlook.

@easimoni. pls how can u determine the fair value of a stock(at present, not forecasted)
thanks

pls i need advise on pz i bougth at 26 naira abt a year ago can i sell to reinvest in access public offer

spicie:

Holla all, please whata wrong with the cscs website? i can't access any more.

Try this link, I think they retired the old link.

http://www.cscsnigerialtd.com/

@all,
Did anyone notice that the technical suspension on FBN has been lifted. The stockprice is now 44.54

shigidi:

@easimoni. please how can u determine the fair value of a stock(at present, not forecasted)
thanks

I guess you can multiply the current EPS by the average PE of that industry. It does not take into account the future earnings of that company. Hope that answers you question.

easimoni:

I guess you can multiply the current EPS by the average PE of that industry. It does not take into account the future earnings of that company. Hope that answers you question.

That would not give you the fair value. It would only give the value relative to other stocks .
The market may or may not price that stock at the PE of the industry.
As I stated before the forecast EPS is the one to go with as It would have taken into consideration future activities of the company.
There is no alternative to doing your homework

frankiriri:

That would not give you the fair value. It would only give the value relative to other stocks .
The market may or may not price that stock at the PE of the industry.
As I stated before the forecast EPS is the one to go with as It would have taken into consideration future activities of the company.
There is no alternative to doing your homework

For me there is really nothing like fair value!!!! This is because you can use different models to calculate what you think the price of a share should be. PE is just one. Dividend yield is another, net asset value, price to book value etc.

Howver, PE is easy and stright forward.

Pls gurus esp accountants/auditors help me out here on Access Bank – I intend to buy a lot for the medium term, I have been trying to do some 'fundamental analysis' but have near-zero accounting skills:

• Exceptional item of N2.12bn was charged against 2006 profits (page 58 of full prospectus). 

• Also, frankiriri mentioned cashflow in another thread and I looked this up in the prospectus and found (Investing activities, page 59): Proceeds from disposal of long term investments +N2,052M (2007); +N25M (2006)


                        2006 2007 %change
Published  PAT (Nbn) 0.74 6.084     725%
Extraordinary items       2.12 (2.052)
                                   0.025
Adjusted PAT:        2.882 4.032       40%

Adjusted PAT of 40% (rather than the advertised 725%) still looks ok for me but i want to know if this a correct reading, or am I just being paranoid 

I actually posted this earlier but didn't get a reply from you
@ Wanaj0
i will like to know what you think of Sterling Bank Plc and livestock feeds plc, i actually took to your advise and asked my broker to get me Nigerian German Chemicals,but he suggested sterling bank and from fundamentals that i have gone through on this forum i also asked him to get me livestockfeeds

I will be grateful if anyone one in the forum has some kind of information that will strengthen what my broker told me yesterday,i have actually sent a buy order for these three stock

Well I do have a problem. I would like for the experts in the house to help out on. I sold part of my Zenith Bank shares to meet an immediate emergency, I sold them then at N61. but now that I have the cash back, do you think it'll be wise to buy back into zenith bank and lose some few bucks since its selling now at N63. Or should I just forget the zenith bank and buy something else with the cash? Your reply would be best appreciated. Thanks

tnx for your replies, pls suggest  some short term and some current P/O good buys and their prices per unit. when is japaul coming out?

EMMAACHILE:

WAIT FOR STANDARD ALLIANCE FOR A PERIOD OF ONE YEAR INVESTING

I hope you're aware that standard alliance is planning to raise additional N20b in the near future. This is in addition to the convertible prefered shares that they issued sometime this year or late last year. If holders of the convertible shares decide to convert their shares to ordinary shares, this, coupled with the new shares that'll be issued with the planned PO will result in some serious earnings dilution. So you might want to check out their future earnings prospects very well before committing your hard-earned money.

ty_ademolu:

Well I do have a problem. I would like for the experts in the house to help out on. I sold part of my Zenith Bank shares to meet an immediate emergency, I sold them then at N61. but now that I have the cash back, do you think it'll be wise to buy back into zenith bank and lose some few bucks since its selling now at N63. Or should I just forget the zenith bank and buy something else with the cash? Your reply would be best appreciated. Thanks

You'll have to give us more information than this. What are your investment objectives, and how long are you willing to invest? I personally think that Zenith is right now overpriced due mainly to the bonus rumor going on.

aksance:

Please gurus esp accountants/auditors help me out here on Access Bank – I intend to buy a lot for the medium term, I have been trying to do some 'fundamental analysis' but have near-zero accounting skills:

• Exceptional item of N2.12bn was charged against 2006 profits (page 58 of full prospectus).

• Also, frankiriri mentioned cashflow in another thread and I looked this up in the prospectus and found (Investing activities, page 59): Proceeds from disposal of long term investments +N2,052M (2007); +N25M (2006)


2006 2007 %change
Published PAT (Nbn) 0.74 6.084 725%
Extraordinary items 2.12 (2.052)
0.025
Adjusted PAT: 2.882 4.032 40%

Adjusted PAT of 40% (rather than the advertised 725%) still looks ok for me but i want to know if this a correct reading, or am I just being paranoid

What exactly are you trying to get at? Can you post the P&L and Cashflow statement here so that we can analyze? Also, if you're saying the extraordinary item was charged against profits, why would you deduct it from PAT in arriving at your adjusted PAT? Unless the charge was a positive one. Also, cashflow from investing will involve both proceeds from disposals and amounts invested in LT assets. I think you should be more concerned with the cashflow from operations, adjusted of course for deposits and loans. In any case, I don't have access to the financials, so if you can post the cashflow and profit statements here, perhaps we can help you out with your worry.

I will need to see a copy of the prsopectus before commenting. However I suspect that extra-ordinary item charged against profit would be the goodwill arising from consolidation.

@WindyWendy

the N2.12bn is the extraordinary item charged against profits for 2006, so I added it to the reported figure of N0.74bn, abi??
the N2.052 is subtracted was the Proceeds from disposal of long term investments

pls find below the link to the full prospectus:
http://www.accessbankplc.com/downloads/Prospectus.pdf

thanks a lot

First Bank of Nigeria Plc Audited Account For The Year Ended December March 31st, 2007

2007 2006

Turnover 90.3b 67.4b

Extra-ordinary item Nil 3.7b

PBT 25.5b 21.7b

Taxation (5.3b) (4.4b)

PAT 20.3b 17.3b

Goodwill (1.9b) (2.0b)

PAT & Goodwill 18.3b 15.3b



Dividend: 1.00



Bonus: 1 for 6



Closure Date: 20/08/07



Payment Date: 03/09/07

the elephant is about to hit the ceiling,

Temmie10:

First Bank of Nigeria Plc Audited Account For The Year Ended December March 31st, 2007

2007 2006

Turnover 90.3b 67.4b

Extra-ordinary item Nil 3.7b

PBT 25.5b 21.7b

Taxation (5.3b) (4.4b)

PAT 20.3b 17.3b

Goodwill (1.9b) (2.0b)

PAT & Goodwill 18.3b 15.3b



Dividend: 1.00



Bonus: 1 for 6



Closure Date: 20/08/07



Payment Date: 03/09/07

How did you come about this ? because i didnt see it on firstbank site , infact as i tried to go to the financials on their site , i got a blank page with this message "This object has been blocked."