₦airaland Forum

Now it pain me small that I didn't attempt taking my WEMA rights. I was put off with the form's first page statement that dublicate or copy forms will not be accepted.

megawealth01:
Abracadabra

Wetin you dey see
I agree with yMcy56's hunch that it's accumulation by strategic cats. KarlTom also shared the sentiment.
My clues are Wale - 1. Would be slow to brag about turnaround, 2. $ cashflows - If OandO was bent on buyout. Plus for real some shareholders are too pained with leadership of the company and want to exit their perceived nightmares. Wale talked about how they settled a fat one in the last AGM.

yMcy56:
Hold it first.......
Those guys meant something

* Do your DD o, make una no say na Mcy talk something o.

Meanwhile, accumulation seems ongoing in OANDO.....
We may be seeing it as sell-off but from my own view, it looks more like accumulation

It will be clearer in the following months.

Heavy dumping by OandO forcing the price down to prevent a high buy-out price or Heavy dumping by major shareholders that just want to leave.

and or

Heavy buying by common shareholders in good faith and or Strategic buyers, the way ote$ kicked-off buying FBNH or Transcorp shares.

megawealth01:
FG To Save ₦‎8 Trilion Annually From Subsidy Removal, FX Reform 


https://punchng.com/fg-saves-n8tn-from-subsidy-removal-fx-reform-tinubu-panel/

How should one position. Difficult to predict, but there is a high likelihood, the economy will follow the lead of the market in the coming months and years. Leading to a bull of several years as the economy expands.

emmanuelewumi:
What are you going to do with your loot, people who sold Dangote Sugar at N60 came back to buyback at over N70.

Fundamentally, UBA is still going places. N45 is more like it for UBA and N60 for GTB and Zenith Bank

Not far from the N50 I will not be surprised to see it reach this year.

Zagee:
It just feels like that $b UBA released on behalf of Afrexim just they enter this market today. What manner of prices are these🤣

The last of shell onshore assets has finally been disbursed for $2.4b.
Sadly, our guy no buy am!

His hands are full. He still has a lot to deliver on

yMcy56:
Good luck to him.

UBA sighted @33.50 as at now.......still moving........34!
The buyers are not from NSEMPA...

I will not be surprised if UBA gets to N50 this year. Everything looks set for this to happen once it upgrades it's final dividend to N3. Bringing total dividend to N3.50 .

Felt the market bull was strong today looking at closing prices.
Data shows a 2% gain in the All Share index today ! One of the strong days

megawealth01:
Our OANDO

Oando is a TURNAROUND. The buyout must not happen. Rather we must enjoy the turnaround and not only Wale & his inner circle chopping everything .

Today's bull is strong. Ahead Ahead joor.
Oando enough gbelo gbebo
Creeping up small small

megawealth01:
It's possible... I've been following his lane since his days in STB. I was working in UBA then sha... UBA and STB merged then he became CEO

I took some snaps on Morningstar today for comparison in a month's time to see if any movements

megawealth01:
All Tony's stocks are rebounding and might target opening price soon

My opinion pls

Perhaps some foreign portfolio investors have zeroed in on his stocks. He has marketed investing in Africa/Nigeria a lot in the last couple of years.

emmanuelewumi:
.quote author=stcool post=127852504]


As a matter of fact UBA has a book value per share of about N40.


Access BVPS is N46

GTB BVPS is N43


Zenith Bank BVPS is N61.

Double check the UBA book value per share you quoted. It is an understatement
UBA has a book value per share of N50 based on 2023Q3.

BabsO2:
This summary picture of Global equities suggests Nigerian stocks with PE's mostly under 10 are still undervalued compared to the rest of the world. While US stocks are relatively overvalued but are not yet at prior peak values.

Nigerian banks despite the rally so far are still relatively undervalued compared to their peers in Africa as seen in the picture below. For international smart money looking for African investments, Nigerian Banks still look relatively attractive according to this picture .

Not a Buy recommendation. Just a note. DD please.

megawealth01:
This OANDO discuss eh... We wan resurrect am again

Requires no discussion. Enough said
Just reporting back on market performance.

Oando drop today. But overall gain small this week. The sideways trading don do. I am still bullish on it and looking forward to at least 400% this year.

Transcorp already done a 1000% since this time last year


DD please. Not an investment advice.

This summary picture of Global equities suggests Nigerian stocks with PE's mostly under 10 are still undervalued compared to the rest of the world. While US stocks are relatively overvalued but are not yet at prior peak values.

.

December bull picked up this week

megawealth01:
Oando going to #7?

Shame go catch Wale to offer such trash

DrAwo:
Last week, I saw an excellent post by CHIDI UZO with a beautiful chart showcasing the monthly and annual returns of NGX ASI over a 10 year period. He kindly consented to my reproducing the chart.

it was thought provoking and led me to write an article about a few lessons I took away from looking at the chart.

I hope you find it instructive...

https://stocksng.com/lessons-from-10-years-of-market-returns/

Reminds me of the fruits trees around while growing up.
We need a new drive to plant fruit trees all over our cities

KayOn1:
That I picked up UBA @ below 9 not too long ago. I no talk o.

Some even sold off at N8 in March 2023 And even at N9.xx in June 2023

UBA staying strong in Km 24.
Looks like all the weak hands that want to jump out are out. Offers are looking only upwards 24, unlike FBNH that suffers with offers below 24 once the strategic buyers step back small. UBA needs to upgrade final dividend to at least N2 to stay positively above N20 and it can comfortably sustain such dividends going forward. That is N2.0 final and N0.5 Interim, bringing total annual dividend to N2.50. It can also comfortably aspire to grow the final dividend every year and become a trustworthy dividend growth stock like GTCO or Zenith.

emmanuelewumi:
The minimum required return on a naira denominated asset in other to beat inflation is 20% and above as a result the banks will always sell at a discount to their book value in order to achieve that

That's why most banks will not achieve close to book values till inflation goes down. Used Yahoo to quicky check a few global banks many are down in market price and operate at price to book values in range of 0.5 to 1.5 right now with Europe more bearish than North America

emmanuelewumi:
It might be difficult to sell at the N50 book value, you need to consider the unleveraged return on equity of the business and the expected minimum total return on investment from naira denominated assets and Investments

GT always commands better market price due to long standing trust by investors due to its better returns with respect to book value etc. Its price has been operating within 10% of its book value for quite a while and looks set to exceed book value.

Globally many banks have share prices at or above book value. Our banks are not different in leverage compared to global banks. I think our banks even have higher CAR's due to more stringent CBN regulations which is fair in view of the operating environment.

I noted till inflation reduces to single digit most Naija banks will continue selling at discount to book value. (Interest rates will drop when inflation rates drop)

Good to see UBA at N24.
Slow and steady it is marching forward. It still should have a long way to go as book value is already above N50 since Q2 results. Abi the book value na fake? I don't think so. When will confidence return with banks trading close to or above book values ? Perhaps when inflation returns to single digit.

Not a buy recommendation. Just a short note at Km 24.

KarlTom:
Is it live?

It should be looking at the date. Got the notification from a stockbroker. But have not seen it yet on NGX website. Perhaps it's on the way there.

WEMA Rights Issue of 8,572,103,573 Ordinary Shares of N0.50 each at N4.66 per share

on the basis of two (2) new Ordinary Shares for every three (3) Ordinary Shares held as at the close of business on September 28, 2023

Acceptance List Opens: December 11, 2023 | Acceptance List Closes: December 29, 2023

This rights offer is rapid !!!!

Mpeace:
For Oando abi na for who

It's for Banks

It looks like people are no more keen on selling shares at give away prices this morning. As offers at low prices are not forth coming. The FBNH buyer or buyers will be forced to buy at higher prices if their accumulation must continue.

KarlTom:
Depends of what you can lacklustre. UACN, Regency and a couple others had some gigantic deals

Access & UBA closed with gains of 25 & 50 Kobo respectively. Even Oando add 5 kobo gain.
Next week and rest of the month will likely remain positive. With December closing in Gains.
Noticed ETI gained a wooping 185 Kobo this same Friday .
It doesn't want Access and UBA leave it behind

mikeapollo:
PLEASE TAKE NOTE: 5 SHAREHOLDERS APPLY TO FED. HIGH COURT TO SET ASIDE ORDER TO DELIST OANDO
I just read that some 5 shareholders have applied to the Federal High Court to set aside the order granting OODP the the right to acquire minority shareholdings in OANDO PLC.

This could mean a new twist in the whole case.

Source: see a reader (Abiodun-Johnson's) comment in the link/page below
https://nairametrics.com/2023/12/06/court-adjourns-oandos-minority-stake-acquisition-case-to-february-5-2024/

If this slips out to the market, the price will stop falling again.