₦airaland Forum

angelo82:
From the little that I know about FBN shares,majority of the people holding their shares won't sell them and First Registrars knows that........They even complain in one of their articles......

donmarshia:
What is really happening to FBN holdings? Everybody feels this stock is fundamentally undervalued, yet it keeps losing value by the day.

I need an answer!

angelo82:
I don't know why also because seems to me like the safest stock in Nigeria and the only one that I have made profits in the past and even minimized risk during the crisis time compare to UBA,UBN and some other banking stocks....

angelo82:
A lot of people especially some of us outside the country are going through the same problem....And because of not getting my dividend,I stopped my investment in stocks until recently due to the revolution of online stockbroking.....I have been able to get my dividend from UBA covering 8yrs and African Prudential acted swiftly and everything was done via email......My issue is now First Registrars as I have submitted all documents to them through my brother in Nigeria because they asked for hard copies....They confirmed the receipt of the documents and that they will pay but I am expecting that by now my account should be credited but nothing yet....Please do you know why the delay and when they will pay my outstanding dividend?....Thesame goes for ETI Dollars denominated share....

walcolm:
Nah, I can assure you the bank will only give you your 12% less their own service charge and keep the difference for themselves

petikal:
Depends on the bank, some are more transparent than the other and have integrity to maintain. 12% is minimum bid you specified, not maximum. So, legally, you should get the bank's winning bid (if it's higher) and they're usually not far off from CBN stop rate.

walcolm:
so does that mean if you bid 12% for a 91-day bill but CBN accepts 13.5% for the same bill, the bank will book you at 13.5%?

petikal:
Yes, 13.5% minus the bank service fee.

angelo82:
Stanbic was even 4. something in 2009....

Chibuking81:
It is a broad daylight robbery for Oando to sell their right issue above the market price, which I know that no body is ready to buy, unless the company categorically tell the investors that, there will be 1-1 bonus after the right issue base on the stated date for qualification of right issue.

bigjay01:
If FBNH (an indeed others) really believe their shares are selling well below book value, why can't they buy them back at ~N9 and sell back to the market (via rights/PO) after the allowable period?

MOBBDEEP:
Pls, can someone kindly help me with this enquiry.
Is the same rate applied for all customers irrespective of their agents/banks?
I saw a post above me quoting 9.9% whereas another person posted 10.05-13.4%
Why the difference?

Elai147:
I agree with you since it is cheaper to buy on the floor (except there is something else we're missing). However, if the right issue were to be a normal one unlike Oando's own, buying the equivalent units of your right from the floor @market price will not stop the dilution on your previous holding.

kotlass:
Master, you lost me here. Mathematically, it will.

Charlesnerd:
Mathematically,it will. Just that you would have to pay more than you would, if you had gone for the rights which normally trades at a discount to the market price.

petikal:
The current rates are still conservative, should be over 14%. CBN can't devalue Naira by over 8%, increase borrowing rate, and not adjust TB rate accordingly. Economically it doesn't make sense.

walcolm:
dilution means your percentage holding will be reduced....for me the only advantage rights issue brings is that it reduces my cost of purchase...unfortunately, Oando has priced this right issue above the current market price which is not a good sign

i will rather buy the no of units i'm entitled to on the floor of the exchange than buy my rights at a higher price

ihedioramma:
for the last three years know, but this year it will go down below #9 if not today self .

FranklinRich:
Did I just see FBNH @ N8.99? The Bears on rampage on this one.

Born2berich:
Exactly.. I even noticed that some stocks have even been gaining 10% for about 3days now. Which makes you wonder.

This bear season is really bloody.

ausdy:
brother pls I'm very interested to know more about this very issue as I have few shares with them and I don't think I can buy this offer. Pls can you shed more light on the (dilution) matter? Thanx so much.

FranklinRich:
I am not sure I understand what the companies are manipulating. From the little I know, Book value is a function of a company's net assets and outstanding number of shares which are balance sheet items.

Omexonomy:
please house let us subject this to rational scrutiny.
Why will any sane person take up such right issue when the cost of buying it on the floor is 2naira difference?
Any reason whether good or bad are wellcome.

JAS10:
abeg any oga here dat knows sombody dat knows MC rep should help me talk to dem na. i have exhausted all options but they just wont open the account fo me. thank you sirs.

pappilo:
Can anyone recommend a real online platform I can use to trade Nigerian stocks.

Thanks

chukyjones:
the right sales has been supended till further notice. saw this somewhere...

OANDO PLC
Suspension of Trading in Rights
Effective today, November 28, 2014, The Nigerian Stock Exchange has suspended further trading in Oando Rights until further notice.
This action was necessitated by information received yesterday, November 27, 2014, evening from Vetiva Securities Ltd, the Lead Stockbroker to the Issue, that Oando Plc has not obtained a formal clearance of the Offer documents and registration of the shares from the Securities and Exchange Commission.

Please note that the Oando Rights traded to date will be reversed.

stokfrick:
house pls, wen u log into itrade and it tells u this : ''A User with the same username has logged in already.'', pls what does it mean?

sellydion:
Log out completely and restart your computer. That may help.

nitrogen:
Haaa, bros, I have always been around, low key things ni jare, all is well! Hope we are seriously making money, this is the time to buy, buy and buy o, FBN, Oando, etc opportunities abound.

otokx:
Is it now 1 naira?

coderXO:
Don't go in for 365-day tenors, the Naira will be weak again when you want to change your money back ( if you wanted to). 90-180 day tenor would be preferable; Naira will have very well recovered from it's weakness. You would be using less Naira to get the $$$ you put in back.

nitrogen:
Yes, our currency is depreciating, so, there must be a compensation, private CRR has been increased to 20 percent, also MPR at 13 percent, are both contractionary measures, meaning, we don't want much liquidity in the system (wrt local guys) as for foreign guys, though there is sovereign risk, we still want your cash to come into Nigeria, so rates must go up for all these to be aided.

Jessglam:
This sure is an educative thread. too bad i just saw it now. please guys, i need more light on the bidding process. please explain in details how one auctions for a particular rate. how can i invest in tbills with the sum o 200,000. what is the best institutions that offers the best rate. i would really love a feedback.

FranklinRich:
I have a dream that I will open a bakery soon. I will use only flour from Flourmills and sugar from Dangote Sugar to bake my bread. I will insure my bakery with custodian and allied insurance and make sure that I use only First Bank(FBNH) for all my transactions.

favoured247:
what is the rate first bank is offering for 91 days on t-bills?

just2endowed:
Can anyone drop the rate banks in nigeria gives for easy comparison.