₦airaland Forum

I thought Ola Rotimi was from Ilesha, Osun State.

I think this is more of a business decision....on another note, more power to him.

I would like to see movies about some of African heroes. Turn some of these biographies and auto biographies into movies.

manie: The internet will help to research into the company's performance for the past 10 years. The company is consistent with dividend payment since it was listed. They have being ingback some of their profits for the past 10 years, they paid a dividend of N5.00 last year and think the best is yet to come from well managed companies in the Agricultural sector.

That is Presco and Okomu, but unfortunately the companies that are doing well in the Agricultural sector are about 50% owned by foreigners, I have not seen a 100% wholly owned Nigerian company in the Agricultural sector that is doing very well.

I agree with your analysis. If you're to pick between okomu and presco today at their current prices, which company would you pick and why?

AccuGas introduces new model to handle domestic gas infrastructure

Author(s): Olusola BelloA new innovation has been introduced into the art of financing gas projects in the country as AccuGas Limited, a subsidiary of Seven Energy has decided to come to the rescue of oil and gas companies that have difficulties in adding value to their gas resource or monitising it.

The new business model is structured in such a way that that it takes off the responsibility of financing gas infrastructure projects from oil companies after entering a joint venture arrangement with the operators of the oil fields.

Most companies have complained of...

http://africanoilandgasnews.com/news/accugas-introduces-new-model-to-handle-domestic-gas-infrastructure

Fiscal regime in PIB still globally competitive

Author(s): Olusola BelloThe Federal Government has insisted that the Petroleum Industry Bill (PIB) is for the benefit of all the stakeholders and that it was not meant to hurt any business concern in the country especially the oil and gas companies.

It said that fiscal regime in the bill still remained competitive globally and that it is nothing to fear. According to Abiye Membere, group executive director. Exploration and Production of the Nigerian National Petroleum Corporation (NNPC), the key objectives of the bill have been clearly spelt out for the benefit of..

http://africanoilandgasnews.com/news/fiscal-regime-in-pib-still-globally-competitive

Icahn pushes for changes at Transocean

APRIL 4, 2013—Billionaire investor Carl C. Icahn would like to see some drastic changes at the world’s largest offshore drilling company, beginning with voting in three new board members. Icahn has sent an open letter to Transocean shareholders urging them to replace three of the company’s board members and increase the company’s per share dividend. Transocean’s annual general meeting will be held on May 17.

In his open letter, Icahn says: “We believe that shareholders have the opportunity to increase shareholder value by supporting our proposals and replacing Michael Talbert, Thomas...

http://africanoilandgasnews.com/news/icahn-pushes-for-changes-at-transocean

Iran, Tajikistan to Cooperate on Energy Projects

Iranian Foreign Minister Ali Akbar Salehi has revealed plans for Iran and Tajikistan to cooperate on energy projects. Speaking at a press briefing following a meeting with Tajik President Emomali Rahmon in Dushanbe, Salehi said cooperation in the transportation of oil, gas and their derivatives, construction of rail and road, transit of commodities between Iran, [...]...

http://africanoilandgasnews.com/news/iran-tajikistan-to-cooperate-on-energy-projects

Nigeria: Oil Search in the North

[Leadership]Recently, the Northern Economic Summit (NES) announced that the Federal Government provided the sum of $100 million in 2013 for the hydrocarbon exploration in the Lake Chad basin and other Northern hydrocarbon basins. The group, which comprised of all the 19 northern states and the Federal Capital Territory, Abuja also said that government had provided a total sum of $140 million for 2011 and 2012 respectively, for the same purpose...

http://africanoilandgasnews.com/news/nigeria-oil-search-in-the-north

Nigeria: Divestment of International Oil Companies' Assets Unsettles Stakeholders

[Daily Trust]Lagos -The frequency of divestment of equity by some multinational oil companies in the midst of the nation's drive to reform its petroleum industry has raised concerns on whether Nigeria will get the sector on track...

http://africanoilandgasnews.com/news/nigeria-divestment-of-international-oil-companies-assets-unsettles-stakeholders

Africa Offers Better Returns On PE Investments Amidst Risks: KPMG

VENTURES AFRICA – According to world-leading audit, advisory and tax service provider KPMG, Africa’s private equity (PE) landscape is uncharted and at an early stage of development, however, it is growing steadily and giving good returns. In a survey by KPMG, a record amount of 25.7 billion rand ($3.03 billion) in private equity (PE) money from [...]

http://africanfinancialnews.com/+/africa-offers-better-returns-on-pe-investments-amidst-risks-kpmg

FG to raise N410bn via bonds in second quarter 2013

The Debt Management Office (DMO) says the Central Bank of Nigeria (CBN) may sell as much as N410 billion worth of bonds during the second quarter of this year. The DMO disclosed this in its provisional calendar published on its Website....

http://africanfinancialnews.com/+/fg-to-raise-n410bn-via-bonds-in-second-quarter-2013

Rwanda: AFDB Approves U.S. $39.44 Million for Skills Development and Job Creation in Rwanda

[Rwanda Govt]Kigali -Yesterday, the African Development Bank approved US$ 39.44-million to be used in the Rwanda Skills, Employability and Entrepreneurship Programme (SEEP). The programme, which was designed in collaboration with the Government of Rwanda and other development partners, will support specific sector budget lines of the financial year 2012/13 budget....

http://africanfinancialnews.com/+/rwanda-afdb-approves-us-3944-million-for-skills-development-and-job-creation-in-rwanda

AfDB approves N47bn to support infrastructure, public financing in Nigeria

The African Development Bank (AfDB) has approved N47 billion ($300 million) budget support loan for improving transport network, infrastructure, agriculture and power in Nigeria. The Resident Representative of the bank, Mr Ousmane Dore, announced the approval to newsmen in Abuja weekend, while speaking on the bank’s 2013 to 2017 strategic plan....

http://africanfinancialnews.com/+/afdb-approves-n47bn-to-support-infrastructure-public-financing-in-nigeria

Born 2be Rich: Currently presco is gaining about N0.75

saibuhari: Could the slim gain be as a result of the questionable Audited report for 2012?

Even though their dividend declaration, 1 naira is nothing to write home about. But, one cannot forget that they declared 8.6 Billion PAT. This raised their EPS to 8.6 and PE ratio to around 2.9 based on today's price. This Presco's result shows that their stock is cheaper than Okomu Oil with their dividend yield and bonus combine.

My reservation is that how do you go from 1.9 Billion in 3rd quarter, to 8.6 billion fiscal year result? Is the result a combination of asset selling and growth, or pure growth? I guess all these questions will be answered in their fiscal year report.

mercylicious: Where will u see to buy? If u have d share will sell ur now? It will be on strong bid.

I can sell you 5k units @ 100

noblezone: Jonathan, you already have my vote!

You only have 1 vote. Use it the way you like

mercylicious: Cashcraft used to publish sum mins after close of mkt( 2pm). B4 now, you can get real time price at
Wwww.nse.com.ng but I heard they don't put it there again. Besides, I can't access dt site wit my bb as it needs adobe flash player.

Check your cscs account for price update

stockbull: A new born baby in stockbull's extended family. Celebrate with us.

Congrats bro.

Anyone with more information on the UACN acquisition of 51% livestock PLC besides whats already posted on proshare, should please share.

I'm curious to understand the rational behind the valuation of the company, how much they paid for the control, the structure of the new organization and the management of the new entity going forward.

I know UACN bought about 11% in the primary market. How do they acquire the rest of the shares and how much premium are they paying? I've been become an ardent follower of livestock plc ever since UACN signed an MOU with them. I knew something was in the offering. But to gain control of a company without paying a significant premium beats my imagination.

We all witnessed how Tiger brand of South Africa purchased 51% of Dangote Flour, and they paid about significant premium for it. They gained control of Dangote flour when the stock was trading around 4 naira, and they paid about 8 naira for the control. Why is the same principle not playing out here?

mercylicious: @courage,
Please give me d formula to calc fair value.
Is it = cash and balances/share outstanding?

Or
Market capitalisation in naira / share outstanding?

Another factor that may push d price higher is that they intend to come and raise money by April.

Equity value = market value =share outstanding x stock price

I think fair value calculation is subjective. I think everybody have different valuation methodology that works for them; be it discounted cash flow, enterprise value, comparable transaction, liquidation analysis, ipo valuation or dividend discount model. What i have done was partial liquidation/ break-up analysis. Assuming the company is up for sale today based on current asset, how much would the shareholder get back.

feelamong: why do you want to put your hand into fire? This coy has poor corporate governance.. they make money but they dont allow the money to get to the shareholders! reminds me so much of OANDO!

You echoed clearly the issue i have with ci. But, im an optimist. I want to believe that they will change that poor corporate governance and declare good dividend for investors. They need to toil these line of actions to boost their share value, because the value is there. I like the fact that as of 3rd quater, they have more than 2.7 billion naira in cash and cash balances. Thats 4x their market capitalization @ 511 million naira. At least, no solvency or reduced solvency risk. If you take that number divided by their current share outstanding, thats about 3.15 naira while current share price is 0.59.

I think the value is there. Management just need to make decisions that will unlock those values.

chillykelly86: I second @courage89, what do you really see in Wema? If you are going by what they are promising, you may just need to do some research to know that a number of companies that offered shares to the public in the past(pre-2008) not only did not deliver on their "promises", but have even gone under.
I don't and won't advise you to make investment decisions based only on what a company's management says.

I apologize if my question came across as a sell signal. That was not my intention. I believe only you know why you're investing, or want to invest in a specific stock based on your analysis. Be it fundamental, technical or speculation..., i was just trying to understand his logic. Having said that, i believe wema will do well on a short term and long term at current price. The problem i have with them before was the solvency issue. But, having raised needed capital, that takes care of the solvency. Also, the national banking license will improve market perception and valuation of the company in comparison to the regional banking license they currently hold.
Considering the company touched the 1.88 mark earlier this year. That echoed the implicit valuation of the company. I believe the company will pass that mark again after their 1st or 2nd quater result.
My brother, continue your accummulation. I dont think you will regret your action.

Omexonomy: What about wema bank i want to start buying it in large quantity. Some should please advice me so as not to get my money tied down.

Why do you like Wema Bank?

gratiaeo: You are nothing but a hypocrisy! Go and read Bakare interview then come back and comment.
Why is it that only Yorubas has seen Fashola/Osheimole achievement? Using them as yardstick mean that we're not yet ready.......
I hate Bakare but after reading his interview today, i confirmed that there still people who can think with their brain.

Ok, i read bakare's interview. Then what? Did he condemn or belittle fashola and oshiomole's achievement? Did he praise okorocha for his vision and his achievement so far? Is Oshiomole Yoruba? Are yoruba's the only section singing fashola's praise song? I believe every progressive nigerians can see what fashola and oshiomole has achieved so far. This is a fact, not speculation. I hate it when we all allow ethnicity, sentiments, religion ...to cloud our sense of reasoning.

If we cannot use these progressive leaders as yardsticks, i implore you to name atleast 3-5 Nigerians leaders that are worthy of emulation. And state their achievement so far.

I think this is not only a bad idea, but wastage of public funds. How are these people to charge tablets when there is no constant electricity? What benefit/benefits are they to gain by learning how to use e-tablets, that will be useful to them in real life? How much are they expensing on these elephant projects? How do you quantify the benefits of these projects and how do you measure its success?

Why not use these funds to build libraries, and equip them with necessary books, past questions and other tools to enabble these student focus properly. Why not use these funds to subsidize after hour lessons for these students. Why not use the money to setup computer labs, and employ competent teachers to teach these students the fundamental rudiments of ict.

I think this is a figment of some people's imagination. I think the ticket should go to buhari/fashola. If muslim/muslim ticket will be a problem, which i doubt, why not buhari/oshiomole. We need a disciplinarian/visionary people to drive results. I think buhari fit the diplinarian/integrity part while fashola and oshiomole fit the visionary part based on proven results, not speculation and sentiment. I respect okorocha as a man and as an administrator, but the result on ground is not enough to pair him on the same pedestal with fashola and oshiomole as far vision, development, results are concerned. I support a system where the best of us get the top job, in respective of their religion, state of origin, ethnicity and other parochial yardsticks people uses these days.

This country is too complex to take every news at par value. This 2nd, 3rd APC registration could just be another marketing strategy from the promoters themselves. We've all witnnessed the publicity this news has created already. We will also see the sympathy that will follow there after as well. If thats part of their strategy, i say kudos. Because, it seems to be working.

NNPC seeks $15bn for gas industrial park

The Nigerian National Petroleum Corporation is seeking about $15bn to develop a gas industrial park patterned after the Xenel Petrochemical Plant in Saudi Arabia and the Nagarjuna Fertilizer Plant in India. The top management of the corporation led by the Group Executive Director, Gas and Power, Dr. David Ige, said during a presentation to the... [Read More...]...

http://africanfinancialnews.com/+/nnpc-seeks-15bn-for-gas-industrial-park

Koch Brothers eye L.A. Times, other Tribune newspapers - sources

March 12 (Reuters) - Charles and David Koch, two of the

world's richest men, are interested in Tribune's newspaper

assets, which include the Los Angeles Times and the Chicago

Tribune, according to...

http://africanfinancialnews.com/+/koch-brothers-eye-la-times-other-tribune-newspapers-sources

Italy's debt costs to rise at auction in wake of Fitch downgrade

MILAN, March 13 (Reuters) - Italy's borrowing costs will

climb on Wednesday at its first sale of long-term debt since

Fitch cut its credit rating, but demand for high yields and

European Central Bank......


http://africanfinancialnews.com/+/italys-debt-costs-to-rise-at-auction-in-wake-of-fitch-downgrade

DLM emerges best investment bank

Dunn Loren Merrifield emerged the best investment bank in Nigeria at the 2012 African Governance and Corporate Leadership Awards organised by the Institute for Government Research and Leadership Technology. A statement by the organisation on Monday said the award was in recognition of DLM’s significant contribution to the development of the domestic capital markets since...

http://africanfinancialnews.com/+/dlm-emerges-best-investment-bank