@ roughcut

i've heard so much about this P.O i'm beginning to wonder if its not a red herring u know

the rumors sure are helping the share price though.

Any reason i should be looking at ikeja hotels and dunlop roughcut, any news/gist

what say u?

aktopgun:

@ roughcut

i've heard so much about this P.O i'm beginning to wonder if its not a red herring u know

the rumors sure are helping the share price though.

Any reason i should be looking at ikeja hotels and dunlop roughcut, any news/gist

what say u?

You know you may be right  i have heard last week and now its this week but i don't think they want to come out with PO when Zenith and the big boys are playing so not sure what's happening there
As per the second question easimoni is the best person to ask but i understand that Dunlop have just finished their brand new radial tyre plant and have just come out of some sort of restructuring so that's kind of generating some interest

yeah, heard the gist about the new plant etc but shouldn't they be seen to be returning to some sort of profitability first before we jump in (assuming one does jump in)?

they've been dismal in the last 3 yrs and reported losses up till 2005. but i'm still sceptical though on the back of 2-3yrs straight of losses

definitely one to watch i guess

will probably wait for FY results

roughcut, any gist on ikejahotels then?

easimoni, what say u?

aktopgun:

yeah, heard the gist about the new plant etc but shouldn't they be seen to be returning to some sort of profitability first before we jump in (assuming one does jump in)?

they've been dismal in the last 3 years and reported losses up till 2005. but i'm still sceptical though on the back of 2-3yrs straight of losses

definitely one to watch i guess

will probably wait for FY results

roughcut, any gist on ikejahotels then?

easimoni, what say u?

That was before the PO/rights isssue Dunlop did in May this year and they have been able to inject N8B into the truck radial tyre plant which has now come on stream and they have been able to negotiate a favourable rate of interest on their loan and with the receipt of the capital market proceeds they are now set for a turn-around they made a half-year pre-tax profit of N83M

Hello all,

Any info on GT Bank's half year result?

By this time, it ought to have been released, shouldn't it?

Price has been relatively stable for a long while now.

Any info?

Joining the list is Crusader Insurance Plc which said that it has secured the approval of its shareholders to raise more money from the capital market It would be recalled that Crusader Insurance Plc was one of the insurance companies which public offer last year was successful.

The company had said that the new move was part of its growth strategy which would enable it pursue its diversification project into other financial services.

The approval, which was part of the major resolutions at the company's 37th Annual General Meeting, held in Lagos, included the resolution to increase the authorized share capital from N4 billion to N5 billion by the creation of two billion ordinary shares of 50 kobo each raking with existing shares of the company.

Shareholders also gave them the nod to issue by way of public offer for subscription and or right issue at a date and upon terms and conditions to be determined by the directors as well as to merge with or acquire the shares, assets, liabilities and undertakings of any financial services company or allied businesses subject to such terms and conditions as may be determined by the board

FELLAS ANY THOUGHTS OR ADDED INFO ABOUT THIS?

aktopgun:

Joining the list is Crusader Insurance Plc which said that it has secured the approval of its shareholders to raise more money from the capital market It would be recalled that Crusader Insurance Plc was one of the insurance companies which public offer last year was successful.

The company had said that the new move was part of its growth strategy which would enable it pursue its diversification project into other financial services.

The approval, which was part of the major resolutions at the company's 37th Annual General Meeting, held in Lagos, included the resolution to increase the authorized share capital from N4 billion to N5 billion by the creation of two billion ordinary shares of 50 kobo each raking with existing shares of the company.

Shareholders also gave them the nod to issue by way of public offer for subscription and or right issue at a date and upon terms and conditions to be determined by the directors as well as to merge with or acquire the shares, assets, liabilities and undertakings of any financial services company or allied businesses subject to such terms and conditions as may be determined by the board

FELLAS ANY THOUGHTS OR ADDED INFO ABOUT THIS?

Where from guy?
This sure will increase number of shares,
Cheers

I GOT THIS FROM THE DAILY CHAMPION NEWSPAPRE OF 9TH OCTOBER FELLAS, SORRY THE LAST POST ON IT DIDN'T INCLUDE THE AUTHOR AND THE DATE. HENCE THE REPOSTING

9 October 2007
Posted to the web 9 October 2007

Lagos

Appreciative of the impact of the capital market to their growth strategies, more insurance companies have shifted their focus to the Nigerian stock market.

At the last count, it was discovered that not less than 10 insurance firms are at the verge of either having their shares listed or approaching the market to raise more funds.

On this list includes such companies as Regency Alliance, Standard Alliance now S.A. Insurance Plc, Industrial and General Insurance, Staco Insurance Plc, Cornerstone Insurance and Consolidated Hallmark Insurance.

Joining the list is Crusader Insurance Plc which said that it has secured the approval of its shareholders to raise more money from the capital market It would be recalled that Crusader Insurance Plc was one of the insurance companies which public offer last year was successful.

The company had said that the new move was part of its growth strategy which would enable it pursue its diversification project into other financial services.

The approval, which was part of the major resolutions at the company's 37th Annual General Meeting, held in Lagos, included the resolution to increase the authorized share capital from N4 billion to N5 billion by the creation of two billion ordinary shares of 50 kobo each raking with existing shares of the company.

Shareholders also gave them the nod to issue by way of public offer for subscription and or right issue at a date and upon terms and conditions to be determined by the directors as well as to merge with or acquire the shares, assets, liabilities and undertakings of any financial services company or allied businesses subject to such terms and conditions as may be determined by the board.

I HOPE THIS ANSWERS ANY QUESTIONS
IF AND WHEN THIS OCCURS IT WILL DILUTE THEIR EPS AND THEREFORE INCREASE THE P.E. THE ONLY THING IS, I THINK THEY MUST BE WAITING FOR AN APPRECIATION IN THEIR SHARE PRICE BEFORE COMING OUT WITH IT AND THEY PROBABLY DO NOT HAVE THE EXPERTISE LIKE THE BANKS TO FORCE THEIR SHARE PRICE UP BEFORE A P.O (JUST A THEORY THOUGH)
ANYWAY RIGHT NOW ANY INCREASE IN THAT SHARE PRICE AS FAR AS I'M CONCERNED WILL BE GREATLY APPRECIATED
I DO THINK THEY ARE STILL A SMART BUY IN THE MEDIUM TO LONG TERM AS FUNDAMENTALS ARE STILL GOOD AND THEY ARE STILL PROFITABLE.

crusader are unlikely to come to the market this year though, given the big boys doing P.Os right now i.e the likes of zenith, fcmb etc. fidelity also extended their closing date recently.

so if u have crusader shares its probably best to wait for the post tech susp. bull run when it happens

good hunting!!

by the way if they increase their outstanding shares by 2 billion new shares, taking their outstanding shares to 5.437 billion thereabouts, the eps drops to 0.22 and the p.e increases to 19
this is based on current projescted earnings of 1.186 billion naira

the industry average p.e is 20.66

it may not be so attractive for the short timers then but long term it seems to still be a fundamentally sound company with increasing profits

FELLAS. JUST DOING A LITTLE DIGGING AND FOUND THIS ON WEMA. GUESS WE NOW KNOW FROM WHERE ALL THE TALK ABOUT A P.O COMES FROM, THE PROVERBIAL HORSE'S MOUTH.

ENJOY

Wema Bank Targets Top 5 By 2010
( 27.09.07 )

Source: Vanguard
Published: August 23, 2007


WEMA Bank is set to become one of the nation's top five banks by 2010 even as it prepares to approach the capital market this year to raise additional funds to beef up its capital base.

Group Managing Director/Chief Executive of the bank, Mr. Adebisi Omoyeni, stated this while receiving top management of Vanguard Newspapers on a courtesy visit to the bank, yesterday.

Omoyeni said Wema Bank was delighted with its partnership with Vanguard Newspapers over the years. He particularly appreciated the paper's support during the recent re-branding of the bank, saying the bank's mission was to add value to its stakeholders and this it would continue to do.

He said while the bank aimed to be one of the top five banks in the country by 2010, its vision was to become Nigeria's biggest and first bank by year 2020 and for this purpose, would soon float a public offer to raise additional funds to beef up its operations.

Omoyeni said: "Before the consolidation exercise, Wema Bank was between sixth and eight position in the banking industry, but pre-consolidation when banks were required to have N25 billion capital base, Wema Bank had N8 billion and went to the market in 2004 and was able to raise N19 billion. That means automatically we had more than N25 billion. However, because of verification of CBN, we ended up having N16.5 billion and with our N8 billion, that's about N24.6 billion, about less than N300 million to the required minimum.

"The plan was to source the balance from our earnings. So without acquiring or merging with anybody we scaled the hurdle. But because of relationship, and because we were passionate about National Bank, we decided in 2005 and acquired National Bank. As at today, the two banks are now one bank, and we are operating seamlessly.

"We are on wide area network, we are online real time. As at March 2006, if you went to any branch of National Bank you could access your account. So also Wema Bank or any of the two banks. Consolidation was to take one and half years but our own took only three weeks. Even the people that concluded before us are having problems that we don't have.

"Before the new management took off in December 2005, we had made a profit of N1.5 billion for nine months because our financial year always runs from April to March. And for the last three months of 2006, for that financial year, we were able to double our profit and arrived at N3.13 billion.

"We had equally concluded another financial year and the result will also come out and we did very well. As early as April 2006, I kept telling everybody, especially when we met with stockbrokers in May 2006, we told them if you want to make money go and buy Wema shares. Those that listened to me are now smiling to the bank.

"Wema is on ground. It is solidly on ground. There are some banks you hear a lot about them, but you can't see them. We are not like portfolio businessmen that at the slightest thing they carry their portfolio and run away. Wema is on ground and you can feel it, you can touch it.

"Today Wema as a universal bank is a financial supermarket. We have about 12 subsidiaries. We are into insurance. We acquired Great Nigeria Insurance in September 2006, one of the best insurance companies in the country. We have Wema Asset Management.

We have Wema Trustees. We have Independent Securities, We have Wemasec and we equally have a mortgage firm - Wema Homes. We have Wema Ventures, Wise Properties and we have Wema Registrar. We are into every aspect of the financial sector. And Wema is one of the banks in the country today which if you want to consolidate all your financial transactions, you don't have to look anywhere else.

"Today our share price is about N11 and I can assure you as I assured the stockbrokers a year ago, if you still want to make money go and buy Wema shares. Because within the next three months, don't be surprised if the price is double what it is today. Immediately we publish our accounts, the share price will go haywire.

"And like I said, we are going to the market this year. We even have more than what we are going to the market to look for. Because there is renewed interest in Wema Bank by Nigerians and foreign investors," he said.

In his remarks, Chairman/Publisher, Vanguard Newspapers, Mr. Sam Amuka, commended the management of Wema Bank for its acclaimed successes over the years, especially under the leadership of Mr Adebisi Omoyeni. He also thanked the bank for its support over the years, expressing optimism that Vanguard Newspapers and Wema Bank Plc would remain partners for their mutual benefits.

THOGHT U'ALL MIGHT LIKE TO SEE THIS

WEMA BANK PLC UNAUDITED SECOND QUARTER RESULTS FOR THE PERIOD ENDED 30 SEPT 2007


WEMMA BANK UNAUDITED RESULTS FOR THE PERIOD ENDED 30TH SEPT 2007 RELEASED 12 NOV 2007


2007 2006
TURNOVER 20.593N'B 11.754
PBT 7.609 4.240
PAT 6.468 3.392

PAT INCREASED BY 90.68%

NOT BAD EH?

I´m a new guy as regards to stocks. My question is to my fellow NAIRA-LANDERS, I bougth, Costain @20, mbenefit@3.64, stdinsure@4.29, nem@2, Lasaco@3.5, since i bougth all these stock, they all start falling down. Please , what must i do!, to off-load all or hold on some, pls, i need an advice,

THE HOPE IS THAT U DID SOME ANALYSIS OR HAD UR BROKER DO SOME ANALYSIS BEFORE BUYING
IF YOUR REASONS FOR BUYING STILL REMAIN PLAUSIBLE THEN HOLD ON BUT IF ON ANALYSIS THOSE REASONS HAVE MOVED ON THEN U HAVE A SIMPLE DECISION TO MAKE

IT ALL DEPENDS WHY U BOUGHT THE STOCK IN THE FIRST PLACE?

thanks aktopgun

By October 9,African Paints traded @ 1.01,by November 14 it closed @ 2.20,appreciating by over 117% within one month.The stock is still appreciating cos I heard the company located in Oregun industrial estate had an EGM and took a decision to create additional shares that will enable a core investor(a Europe based institutional investor) to buy into the company.

Please does anyone know where I can buy the stocks from or is there any nairalander that has to sell??Help a brother out cos my stockbrokers said the stock is very scarce

By October 9,African Paints traded @ 1.01,by November 14 it closed @ 2.20,appreciating by over 117% within one month.The stock is still appreciating cos I heard the company located in Oregun industrial estate had an EGM and took a decision to create additional shares that will enable a core investor(a Europe based institutional investor) to buy into the company.

Please does anyone know where I can buy the stocks from or is there any nairalander that has to sell??Help a brother out cos my stockbrokers said the stock is very scarce

[CBN ready to license foreign banks, says Soludo][/b]

Hi everyone,
I got this from Proshare website. Do you guys think our indigenous banks can withstand fierce competition from foreign banks if licensed to operate in Nigeria? I'm sure the gurus in the house can help us thrash out this.
Cheers,
Tosjay

P.S. Pls read the story below.

====================================================================================================
[Proshare News and Analysis

CBN ready to license foreign banks, says Soludo
Posted Wednesday, November 14, 2007

Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, has said that the CBN is ready to license foreign banks to operate in the country. However, the governor, who spoke at the National War College Course 16, said that such foreign applicants for banking licence should meet the CBN’s requirements, which include possession of a minimum equity capital of N25bn.



He also spoke on the Financial Services Strategy 2020 and the Nigerian Economy.



Three banks – Nigeria International Bank, Standard Chartered Bank and the IBTC Chartered Bank (which recently merged with Stanbic Bank) have dominant foreign ownership.



Institutions likely to benefit from a new licensing window include the Islamic Development Bank. IDB’s Country Representative, Chief Bisi Ogunjobi, recently disclosed that the organisation was seeking the nod of the apex to establish a full-fledged Islamic retail bank in the country.



Soludo said the deregulation of the financial industry did not imply that foreign institutions could take over the nation’s financial system.



According to him, ownership of dominant financial institutions has implication on a country’s security.



On the gains of economic reforms, the CBN boss said total credit had grown from 18 per cent to 30 per cent of Gross Domestic Product while the economy attracted a total foreign direct investment of $7bn in 2006.



He, however, observed that this was still less than the situation in many advanced countries where credit had grown to more than 100 per cent of their GDPs.



He said new banking institutions to be licensed in the country would not be permitted to take over any of the local banks which the apex bank regards as “our national champions.”



Soludo, while acknowledging the fast rate of penetration of banks since the consolidation exercise, said only 40 per cent of the bankable publics were covered by existing banks and their branch networks.



On FSS 2020, he said the plan was to concurrently strengthen the domestic financial markets; enhance integration with external financial markets and engineer Nigeria’s evolution into an international financial centre.



He said, “The first prong of our strategy for achieving our national aspirations focuses on strengthening our domestic financial markets. We will then use our strengthened financial sector as a catalyst to drive overall economic growth.



“The second prong of our strategy focuses on enhancing integration with external financial markets. We plan to focus on initiatives that would enable the financial sector to reinforce the expansion of our export base. In integrating with external markets, we plan to start with our regional bloc, and then expand to other global economic blocs.”



He said that the third prong of financial system strategy would focus on engineering Nigeria ’s evolution into an international financial centre.



“We plan to become an international financial centre in the medium- to long-term. We intend to leverage an area of strength as a key differentiating factor,” he said. - Punch]

By October 9,African Paints traded @ 1.01,by November 14 it closed @ 2.20,appreciating by over 117% within one month.The stock is still appreciating because I heard the company located in Oregun industrial estate had an EGM and took a decision to create additional shares that will enable a core investor(a Europe based institutional investor) to buy into the company.

Please does anyone know where I can buy the stocks from or is there any nairalander that has to sell??Help a brother out because my stockbrokers said the stock is very scarce

@roughcut,

could you please enlighten me on the stock of Bagco whose IPO is on at the moment, and your advise on it.

secondly, could anyone give me a list of blue chip companies in which one can invest in?

thank u.

kabirat:

@roughcut,

could you please enlighten me on the stock of Bagco whose IPO is on at the moment, and your advise on it.

secondly, could anyone give me a list of blue chip companies in which one can invest in?

thank u.

well let me help you out there. the offer is quite expensive. forward pe is 22 for 2008, some banks have better forward pes than that. maybe you should hold and buy later next year.

;d ;d ;d ;d

shigidi:

;d ;d ;d ;d

?

@kabirat
WAPCO, DSR AND OANDO.
this are my best bets for now.

@shigidi and rasputinn

right back at yall

shigidi:

well let me help you out there. the offer is quite expensive. forward pe is 22 for 2008, some banks have better forward pes than that. maybe you should hold and buy later next year.

Some banks? More like all banks except First Inland and Spring. Bagco is the most expensive offer I've looked at this year. Not even close.

I guess nigerian living abroad can also participate on Stock Exchange, plz can some one enlighten me on that?

easimoni:

Some banks? More like all banks except First Inland and Spring. Bagco is the most expensive offer I've looked at this year. Not even close.

easi
looks like first inland have got something up their sleeves.
i know their current figures are shitty but i'd like to see their prospectus b4 finally crossing the bank out.

shig
you are havin too much fun mate
dun tell me its the bull market

Temmie10:

easi
looks like first inland have got something up their sleeves.
i know their current figures are shitty but i'd like to see their prospectus before finally crossing the bank out.

Time will tell. If they want to do a PO based on <3B in profit, they must be taking us for suckers. This PO fever is really catching!

niceuzor:

I guess nigerian living abroad can also participate on Stock Exchange, plz can some one enlighten me on that?

Find a good stockbroker meeting your taste and pocket, that should be able to provide online services.
Guys like BGL and Zenith(ZSL) have a minimum balance of between 1m to 5m not too sure.
APT for instance has a minimum of 250K, i gathered from nairaland that Cashcraft can take 100k.
They'll open a CSCS account. Have a nigerian address so you correspondence can be sent to you (even if it is that of a relation/friend).
I also suggest you find a stockbroker that has the same bank as you have which has online services so you can transfer money to them easily UBA, GTB, Zenith etc.
Transfer money to them and they'll go ahead and make the purchases.

The rest is like on the job or you keep asking
Cheers

@ Rasputinn,

What do you have to say about African Paint Plc?. Is as if things are improving, isn't it?.

Peace.

tonyjon:

@ Rasputinn,

What do you have to say about African Paint Plc?. Is as if things are improving, isn't it?.

Peace.

Yep,things are improving,having closed @ 2.42 on Thursday,I think it's almost peaked cos I dont see it crossing the 3.00 mark till the rumoured foreign investors come in.If you're thinking of buying,a cross deal by your brokers may be the only source(i.e if they have clients that want to sell).Personally I've asked my brokers to not look for the stock anymore as they've only been able to buy African Paints shares worth less than 10% of the amount I deposited for that transaction------almost a month after I gave them the mandate.Well I'm tracking some other interesting pennies but I need to gather more info on their present state and strategies for improvement.