₦airaland Forum

did Zenith Bank credit cscs accounts or post out certificates??, cos dat go determine when the dysentry go start,

@jonyjoscom

further to what pumping said,  i was using cashcraft last year and it was a nightmare,  i ordered for NASCON during the 'one day special sale' at N22 as it was trading at N27,  i thot since it was goin into my CSCS immediately i could sell and make a little profit. My order was sent by email and it was clear that i wanted at N22,  2 few days later,  my broker tells me she could not get the NASCON so I replied I will send a buy order for something else later. Lo and behold I saw NASCON in my Cashcraft portfolio manager bought at over 27 naira.  I got them to remove it from my account including all the charges.

As long as you have correspondence to back you up, they know you can go to SEC and that should make them remove it from your portfolio. In your case, you can also request for a refund of the interest charges to your account,  I didnt have interest charges 'because my account was still in green,

Rhemagirl:
Father of 2, please help me answer

Rhemagirl:
Good day to all the gurus, i just want to confirm the latest date u can buy Equity Assurance and qualify for the Rights Issue on the Floor because i can see that they have gone on Technical Suspension.

Please i will be glad to know as soon as possible

the date that will be used to qualify for rights is left to the discretion of the company (and probably issuing house). the prospectus is not out and we won't know the date until we see it, except someone has an insider that has seen it,

going by previous public offers, some companies use dates before the stock was placed on TS, some use the date it was placed on TS and some a date while it is on TS,

as d blind man no dey mute, be like say na to talk say im want sunglasses.

@ speedy08

Delta Glass is the old name of Beta Glass. The name change was in August 2000 http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=20384842

Since you placed an order for 25,000 units, you can request Zenith securities to reverse the trade for the additional units. ( I guess they will just sell it to take it off your account). You are not supposed to pay the charges 'cos it was their mistake. It has happened to me twice with two different brokers and it was taken off my account and I did not pay charges in both cases. good luck with it,

following my previous post, i just saw this http://www.nigeriansecurities.com/shownews.php?url=http://www.nigeriansecurities.com/news/diamondgdr.htm

The price range announced by Morgan Stanley is $13.30 - $13.75 per GDR which gives the price range per share as 15.96 to 16.5. The final price should be announced in the week of Dec 10. Since they have given a range, does it mean the final price will be between this range?, If it is so, it is much cheaper to buy the GDR and they can be converted to shares in about 3 - 9 days after listing depending on your broker,

Also my broker mentioned that the transaction costs of converting GDR's to shares is less than 1% of the share value which is cheaper than buy commission on the floor, Can anyone confirm this please,

Hi all

I am looking to add to the Diamond Bank in my portfolio and it closed at N19.00 today. Do you think buying the GDR would be cheaper than the market price. The prospectus has the reference price for 1 GDR as $13.75 at N120 to $1 which translates to N16.50 per share (as 1 GDR = 100 shares). However it also states that the settlement price (i.e. the price it will eventually be sold) will be determined on Tuesday 4th December when applications close. That the price will be determined by a select group of investors determine using a number of valuation factors. It also says that the settlement price could therefore be higher or lower than the reference price,

Using the GTBank GDR as a precedent, do you think the settlement price will be the same or lower than the market price, many thanks.

sorry the online postcode finder service is temporarily suspended http://www.nipost.gov.ng/Post_Code.aspx

it depends on what you agreed when u completed the forms and opened the account. some investors leave their portfolio to their broker to manage while others give buy/sell orders to the brokers. if u agreed to manage it yourself and their responsibility is just to advise you but u decide on what you want, you have every right to be mad at them.

being mad doesnt mean u have to rant and scream, u just have to be assertive dealing with the problem for it to be resolved. it is up to you if you want them to make decisions for you or you make it yourself. however most managed accounts are for high networth clients (usually N5m and above) and usually there will be a flat rate fee and performance fee for mananging the account. in your case if it is a normal broker/client relationship, they will charge you commissions for each trade you request or they make on your behalf. an unscrupulous broker can make regular trades on your account to make a lot of commisions. so i think it is better for you to give the orders if the account is commision based.

about the stocks he got for you, it depends on wat kind of investor you are. are they short term trades based on market psychology or long term trades based on fundamentals or, there are many more investment attitudes, deciding on if they are good purchases depends on the rationale behind buying it. but the companies he bought into should be the least of your problems. what you should sort out is how your account will be managed.

Got an email alert today from proshareng stating that 'Dangote Flour will most likely now be a Private Placement due to the non-agreement of a fair value for the offer between SEC and the company. The PP should take place in the next few weeks.'

Has this happened before in the NSE??