₦airaland Forum

Ladygracy:
It seems Ngx group will benefit well from this hype around the IPO. Glad I loaded up around June.

Yeah.
VFDgroup owns 5%stake of NGXgroup and 5% stake of CSCS

VFDgroup total asset should cross over 600billion for FY2026

yMcy56:
You don't get it.
It's not about the affected big Cap stocks alone, but the effect will be felt in the whole market.
Already, the market is feeling the heat of the proposed new Rules already, even before they kick start it.
It's effect will echo through the entire market and nation.

If two elephants are fighting, don't you know it's the grasses that will suffer it?
That is, if big Caps are being dealt with, where do you think the small ones will be?

The only thing that's good in it is the tiered single bulk volume movement (that can change prices officially).....BUT, the implementation of the Rule is coming at a very wrong time....
It's wrongly timed.

I quite disagree…
The rule is the best that could happen to NGX. We need to find a true discovery of our market capitalization. The present figure doesn’t show depth but only major the reflection of the big cap stock.

And yes, the 0.01 movement should be on hold until we are more robust.
However, we need to adjust the closing price for some stocks to show true market value.

If we must grow as a nation, some bold decisions need to be taken.

Postponed

https://nairametrics.com/2026/08/16/ngx-postpones-new-pricing-rules-days-after-confirming-monday-take-off/

essentialone:
*Summary of the New NGX Tick Size Rule*

NGX flattened everything down to smaller increments. Effective date: it’s already live.

For stocks *below ₦5.00*: Old Tick Size was ₦0.01, New Tick Size is ₦0.01. Impact: No change.

For stocks *₦5.00 - ₦99.99*: Old Tick Size was ₦0.05, New Tick Size is ₦0.01. Impact: 5x finer. UCAP is an example.

For stocks *₦100.00 - ₦499.99*: Old Tick Size was ₦0.10, New Tick Size is ₦0.01. Impact: 10x finer. GTCO, NASCON, HBM, etc, are hit hardest.

For stocks *₦500.00 - ₦999.99*: Old Tick Size was ₦0.10, New Tick Size is ₦0.05. Impact: 2x finer.

For stocks *₦1,000.00 and above*: Old Tick Size was ₦0.10, New Tick Size is ₦0.10. Impact: No change.

*Why it feels like a "double whammy of illiquidity"*.

1. *Wider price ladder to climb*
Using UCAP example:
Old: ₦17.95 → ₦18.40 in 10 steps of ₦0.05
New: ₦17.95 → ₦18.04 in 10 steps of ₦0.01
To move ₦0.45 now, you need 45 steps instead of 9. That’s why upside/downside feels "sticky".
2. *Fragmented liquidity*
Before, all buyers had to cluster at ₦128.50, ₦128.60, ₦128.70 for GTCO.
Now orders can sit at ₦128.51, ₦128.52... ₦128.59. The book looks "deeper" but each level has almost nothing. You need way more volume to sweep the book.
3. *Psychological de-rating*
Stocks ₦100-₦499 like GTCO, NASCON, SEPLAT used to be "premium tier" with ₦0.10 ticks. Now they trade like penny stocks with ₦0.01 ticks. It signals devaluation + inflation. It feels like a demotion.

*The math explained*
*GTCO @ ₦128.50*
- Old: Top 5 up = ₦129.00. That’s ₦0.50 move.
- New: Top 5 up = ₦128.55. That’s ₦0.05 move.
To get the same ₦0.50 move, you now need 50 ticks. In a low volume market, that takes forever.

And, you can now place ₦128.22, ₦128.43 etc. which the exchange would have rejected before. More precision, but less momentum.

*Why NGX did this*
Official reason: "Alignment with global best practice + currency devaluation".
Because of inflation, ₦0.10 on a ₦150 stock is only 0.067%. On NYSE that’s like 1 cent on a $15 stock. So they made ticks smaller to allow "price discovery".

Unofficial impact: It exposes how illiquid most stocks are. The old ₦0.05/₦0.10 tick was hiding it by forcing orders to cluster.

*What this means for traders*
1. *Scalpers win*: Can play 1 kobo spreads now on GTCO
2. *Position traders lose*: Takes 10x longer to get a 5% move
3. *Block trades become king*: For big moves, people will bypass the order book.

For stocks ₦100-₦499, this will be the worst category. They lost premium status overnight.

This policy + high interest rates + low retail participation = an exactly sluggish NGX stock market loading...

Don’t you think NGX will make more money.. because every trade at a price carries 4naira(now 6naira I think) alert fees

handsomebolanle:
First, I agree Access bank is way undervalued.
But to think of dividend this year will be a dream which implies that we may not see any interest in that stock until the coast is clear.

Many seems not to understand the situation...

Access bank needs to selldown about 19% to 10%
Or grow twice their current numbers...

For the basic, lets say its worth 4.3 trillion
So they need to sell down 817billion to 433billion (384 billion off the books) -Which is easier and comes at a loss
Or double their growth to 8.6trillion...(harder route).

Concerns has been raised in the past (here) on how this bank kept on going on acquisition spreee...

Dont invest in Access yet until it's clear. You can even join the bus at 30 when things are clear.



I will be generous to buy this stock at 20naira

Selah

DYOR

Agba and access crew..

https://nairametrics.com/2026/07/19/access-holdings-sells-7-44-stake-in-ghana-unit/#google_vignette


…..Reacting to the divestment, Head of Research at GTI Limited, Mr. Abiodun Ogunniyi, described the move as an inevitable consequence of the CBN’s revised HoldCo framework, which restricts banks’ overseas investments to 10% of total shareholders’ funds….

We shall be on watch to know when to buy

Agbalowomeri:
See ya long analysis wey no consider the new CBN guidelines. Update yasef

Mr. Apollo I don dey defend ya stock o

Agba, please help me with update. I have been busy for a while now.

First, I agree Access bank is way undervalued.
But to think of dividend this year will be a dream which implies that we may not see any interest in that stock until the coast is clear.

Many seems not to understand the situation...

Access bank needs to selldown about 19% to 10%
Or grow twice their current numbers...

For the basic, lets say its worth 4.3 trillion
So they need to sell down 817billion to 433billion (384 billion off the books) -Which is easier and comes at a loss
Or double their growth to 8.6trillion...(harder route).

Concerns has been raised in the past (here) on how this bank kept on going on acquisition spreee...

Dont invest in Access yet until it's clear. You can even join the bus at 30 when things are clear.



I will be generous to buy this stock at 20naira

Selah

DYOR

megawealth01:
Nawaho... I'm trapped

I’ve been averaging down since 15 😀. BE now 11.95
I’m buying below 10 in bits… no funds to buy the deep again

yMcy56:
GTCo as at now.....
Where are the dumpers and heavy offers of last week?

Many will run if they come.

Bull and Bear is never on a straight line.

faoogoke:
I feel for the guy. He really loaded Access bank. And at that price!
I entered loads at N24.70. I am as calm as a breeze
Dividend announcement will come and dead bones shall rise again.

I doubt in any dividend from access..
With the new cbn guideline to be effected next month. Access bank will be affected. And niw, they have multiple issues to deal with. Their risk exposure is so high.

Dpharmacist:
The most important question is not whether the number is high or low. The most important question is what that number actually means in the context of the person carrying it.

Remember this

𝗔𝗻 𝗔𝗯𝗻𝗼𝗿𝗺𝗮𝗹 𝗟𝗮𝗯 𝗥𝗲𝘀𝘂𝗹𝘁 𝗗𝗼𝗲𝘀 𝗡𝗼𝘁 𝗔𝗹𝘄𝗮𝘆𝘀 𝗠𝗲𝗮𝗻 𝗬𝗼𝘂 𝗔𝗿𝗲 𝗦𝗶𝗰𝗸

God bless you. This piece is timely.

I’ve been feeling like 9/10 healthy but my last lab results keep showing something outside range. The same value for the last 3years. AI and self analysis wants to put me in panic. Anyways, I’m meeting a physician this week for interpretation.

Sunrisepebble:
I think IPO will be $50bn

Over 15Trillion naira margin.

Sunrisepebble:
Dangote refinery
$0.35 per share in the private placement

Thanks… that’s circa 490.

nosa2:
In my opinion both Abbey and VFD are expensive

Boss, I think you need to look again.

There is more in VFD group yet to be realized. I will write about this whenever I have the time.
But just a Hint: If piggyvest reaches a Unicorn, and is to do an IPO… vfd stake alone in piggyvest will be worth more than the present valuation of VFd group. Now adding present investment will be?… This is weee the true value lies.

Stockpromoter:
The story need to change.
Abbey can't do 8.50 and VFD 10+ with all these turnarounds.

VFD is a stock to watch this June.
Abbey will give it a run

lol. Are you promoting VFD?
Even when NGX rallied, vfd didn’t. They own about 5% of NgX
The intrinsic value in VFD is in some of its tech investments which is not factored into its valuation yet.

My point is VfD will move when it wants to move. It’s a long term stock and possibly the Nigerian- Berkshire Hathaway.
The price now is a steal and below 10 will be fantastic.

As at last year, The refinery was estimated to be between $20b -$25b.
Even though PENCOM has given goahead to PFAs, I’m certain they are very prudent and calculative.

So basically, I’m looking forward to their actions. Not OteD or any Billionaire.
Those guys (PFAs) have their estimated value of what’s worth and I suspect that negotiation may be the reason for the September timeline.

We keep monitoring how it unfolds and ignore tge noise.

handsomebolanle:
LEARN AFRICA is going to 20

Zero debt and new curriculum.. I watched their last AGM and if they achieve their goals.. they will have 1naira dividend however I discount it by 50%… so 0.50k is possible… Management has also increased their holdings.

I’m not marketing this. DYOR

I mentioned it here… I saw this coming. The leadership of LearnAfrca is visionary. That’s by the way.

Once I buy my last tranche of what I’m currently buying now. I will give you reasons why you need to buy it (it has been mentioned here severally). No more kalo kalo 😀for 2026

KarlTom:
Are you saying Loco did the right thing?
Or are we expected to turn a deaf ear to such despicable acts?

Excellent observation
This one shock me oo..,😃😃

I just weak

LearnAfrica finally leaving a single digit stock.
You can sell now for quick profit… I still expect pullback to take it to 10-10.5 region..
It’s a long term for me after looking at their outlook.
#Optimism

deathwing:
ZICHIS on full offer again. TIP is bouncing back

TIP will still go down… it’s not going to be a linear movement.
Zichis should settle sub 14 region in the long run

yMcy56:
LEARN AFRICA
This stock is now sighted above 10!!
My projection long ago was N15...
Can't lay hands on the post again....
This is the stock some picked @N1
Let's see how it goes...

If he likes let him go and do his research on this one too....and come with his ridiculous calculations again...

* OANDO also sighted above N50 earlier....

LEARN AFRICA is going to 20

Zero debt and new curriculum.. I watched their last AGM and if they achieve their goals.. they will have 1naira dividend however I discount it by 50%… so 0.50k is possible… Management has also increased their holdings.

I’m not marketing this. DYOR

emmanuelewumi:
Imagine if the money invested in the share in 2010 was used to buy Presco or Okomu share. Or Better still Lafarge Africa at around N38

Alhaji is a capitalist and he will try to maximize his return

True… I expect people to pull out money from solid and good fundamental stocks. It’s that pull back I’m looking forward too.😎
I may be wrong 🤷🏾🤷🏾

Alex35971376:
Hello everyone, I’m quite new here, I’m here because of the Dangote Refinery IPO launch, I would love to know how I can get involved, set up and account so I don’t miss out on it.
I found out listings aren’t done on trading platforms like Bamboo and the rest.
Any suggestions?

It’s going to be a massive IPO.
Once it’s out, there will be various options available to participate.

Streetinvestor2:
So the FA na big boys club
And TA na people way no get shishi club
I like to follow the big boys club oh.
Na you do the separation oh so make everyone understand na agba
No wonder Sunrisepebble has a single stock way don do 1 billion mark or about to do dat here
How I wan leave road come dey enter Bush after this kind revelations

lol.
Sunrisepebble wey be legit …
I’m waiting for her to tell me to buy Dunlop…. Let me sell my property to buy 😀

Streetinvestor2:
Don't worry, he will call you to inform you like you exist to him..lol

I’ve told you in the past how you miss the point at many convo.
Take your time to digest conversation.
Like the APC wise man said “it’s a matter of context” lol

debeey87:
He hinted when he talked about fixed income over two weeks or so ago.

Continue to whyne…

thebargainhunte:
I recall how you talked down on CCNN plc from circa N4+ to N17 thereabout and you made some people to miss the merger.Even after the merger, you kept demarketing it and most people didn't go close to Bua cement, you kept on promoting your Wapco based on fundamentals and how it would be second to Dangote Cement. I believe you are still marketing your Dangote and I believe it will get to the price you quoted based on sentiments.

Then you will hear how papa has bailed out 😁😁 after one week of the event.

I have great respect for him and everyone here though. I’ve learnt a lot here and keep learning.

Streetinvestor2:
I don't pity anyone who feels the business is a gambling site.So I will continue to hammer on my stands if they like Let them loose all thr clothes. I no send you massage. So no full stop in that case

lol. I wasn’t referring to you though. Your views are very clear without any undertone of intentions. You didn’t decode my message properly.
Cheers

Streetinvestor2:
Gbam
Infact with superior facts as per numbers when it has to do with company financials

With all due respect I say this:
Make your numbers and points clear and FULLSTOP.
However there is a level of hostility and speaking less of a stock. The Bigger picture here is that you see funds leaving this stock and moving into other stocks of interest. It’s like saying all roads in Nigeria are bad and taking flight is safe. I haven’t told anyone not to go by road neither I’ve I said people should go by flight but the effect will be that more people will go by flight.
I’m not invested in Zichis or Oando or likes and I’ve learnt great lessons from people here.
My point is that… let’s make our analysis and keep the numbers clear. Let’s put in our energies into clearer picture and let people decide.
In this market.. the money you lose is gained by someone and viceversa.


Just my opinion

thebargainhunte:
You forgot to mention Totalenergies that our oga marketed here, he Japa and left the full offer for his disciplines, everybody here na hustler

Baba, of a truth I respect everyone here especially my seniors. I mean no disrespect but you see on this you wrote, i can’t agree less…
Let nobody quote or mention me 😁

ogawisdom:
Wow I can't wait it has done 3.5x already from 9.5 PO . Some PO Na goldmine,

TIP will make alot of smart investors multi millionaires

Latest by 14th June it's listed

I think there will be a sell pressure… until an equilibrium is reached

HesInMe:
I don't know if VFD will rally. I just know that the large insiders are selling. Good luck.

That was how somebody trying to bail out then kept Wapco at below 40. The person even released extra 2m quantity to sell…
No panic in this business