₦airaland Forum

Story about Zenon and AP merging. Looks like Otedola controls 60% of AP now

http://www.thisdayonline.com/nview.php?id=100471

Latest Market Info
NIG-GERMAN: 3RD QTR SEPT 2007

NIGERIAN GERMAN PLC, UNAUDITED RESULTS FOR NINE MONTHS ENDED SEPTEMBER 30,2007

TURNOVER 07 N2.117b, 06 N1.982b

PBT 07 N206.822m, 06 N166.140m

TAXATION 07 (N62.047m) 06 (N49.842m)

PAT 07 N144.775m, 06 N116.298m

Naijadr:
sure no prob, its docwealth at gmail.com

@Naijadr

Just sent you an email.

Thx

@Naijadr, @NBA

Can you give mem your email address?  I am interested in the UBA NRN and I have several questions

Thx

Guys/Ladies taking the exam can check out this forum at URL www.analystforum.com. It is a great resource for people taking the CFA test.

lowee231:
@hispy99
Did u rely solely on Shweser for your level 1.

How many of u are taking these exams in June and are planning on taking them in Ghana
Please contact me.

I used Shweser almost exclusively for all my 3 levels and it was good enough for me.   I know several people that used the same strategy and passed and I also know several people that used Shweser/Stella + text books too.  You have to figure out which strategy works for you.  In my case, I work 9am-7pm most days, so I had to manage my study time effectively, which meant I could not devote that much time to textbooks.  Of course there were a few instances where I referred to text books to have a better understanding of a concept, but I would say I used Schweser 98% of the time.

The projections look too good to be true,

On Acorn, you guys no see say Prof. Peller is one of the directors ?

@Pumping

DVCF (an associate company of Deap Capital) is the firm doing the rights offer.  Deap Capital is only acting as the Isssuing house

Rhemagirl:
Please the gurus in the house, answer us now!!!!!!!!!!!!!!!!!!!!!!!And is it really true that Access Bank is oversubscibed?

Access Bank's oversubcription is true

ngegy:
please check that math again, 5k will get 860 and 2k, 500.

The allocation for between 1k-2k is 60%, so if I applied for exactly 2k, I should get 1,200 shares, or am I missing something?

ngegy:
you`re right, but maybe they did that because the number of applicants are higher for 2k-10k. I`m sure its a bad news for all categories though.

If this allotment holds, then someone that applied for 2k units will get 1,200 shares and someone that applied for 5k units will get 850 shares (even less than the person who applied for 1k units!  Where is the sense in that?

ngegy:
thats the percentage alloted, you`ll get 10.25% of the initial application if you applied for between 100,001 - 250,000, etc.

That is what I don't understand.  Why should those that applied for 10k-25k get 35.55% and those that applied for 2k-5k and 5k-10k get only 25% and 17% respectively?  I thought the fewer the # of shares you applied for, the higher the percentage that should be alloted to you, meaning those that applied for 2-10k should get more than 10-25k

ngegy:
NEWS!!
Dangote allotment concluded

1,000 - 1,000 90,947 100.00%
1,001 - 2,000 71,299 60.00%
2,001 - 5,000 150,187 25.00%
5,001 - 10,000 125,796 17.20%
10,001 - 25,000 70,411 35.55%
25,001 - 50,000 29,961 12.35%
50,001 - 100,000 8,365 11.55%
100,001 - 250,000 3,045 10.25%
250,001 - 500,000 1,224 8.75%
500,001 - 1,000,000 409 8.25%
1,000,001 - 5,000,000 244 7.55%
5,000,001 - 20,000,000 40 5.75%
20,000,001 - 50,000,000 4 5.33%

Could you please explain what the last column means?

somebody:
Hello everyone,

I am considering doing the CFA and thinking of using BPP as I live in the UK. I chose them for no particular reason except my employer uses them for some other courses we take at work so if anyone has suggestions on a better provider, please let me know. Also, I haven't started preparing for the exams, actually haven't contacted BPP but can do so before the week runs out but what I want to know is if I can realistically pass the June exams if I haven't started studying. I also have a very demanding job and work very long hours so not sure if 5 months is enough for me to prepare and pass it. Please for those of you that have done it, please let me know how feasible it is to do the June exams and pass. I could do them in December as well but that would give me only 6 monhs to study for level 2 which I assume is harder. I have some financial knowledge and work in Investment Banking, also looked at the syllabus and I feel that it doesn't look too bad as I have done some of the stuff before but I just don't know if its enough to help me pass the exam (of course I know I have to put in a lot of extra hours too). So please any thoughts on provider, study hours, study techniques would be greatly appreciated.Thank you.

@Somebody

I used Shweser so I have no idea about how good BPP is.  The recommended study time by CFA is around 250 hours, but I know people that studied less(more) and passed.  It all depends on how fast you are at grasping concepts; it's also helpful if you have a finace background (which it seems like you do).

It is extremely helpful to draw up a study plan and stick to it as much as possible.  You should also practice as many sample/test questions as possible.  It is definitely not too late to start preparing for the exam,  the test is still 5 months away.

Good luck

grabdaloot:
I am missing something here. How can dunlop be on strong bid according to the daily stock position and still end up on the losers?? Can someone please help explain this one to me because I never see am before

@gradaloot
The way i interprete the report is as follows:  The report shows only demand and supply of a stock, and not necessarily the price at which teh buyer wants to buy, or teh seller wants to sell.  So it's possible for the strong demand to be from buyers that have put in bids that are below the stock's current price and drive down the price of the stock.

@kpineo

I dey wait for your daily file o, na dat file some of us dey take trade

grabdaloot:
@ all
We have to be careful on these speculative buys I just got wind of gist that some brokers might be behind all these "rumuors" to try and fuel the bull run of some stocks.

Secondly I don't this is a genuine bull market like last year, When the bulls were out last time there was nothing like friday market but that effect is still been seen today. Lastly una no dey fear sef to buy all these insurance stocks? The company with the least forward PE in the sector is probably STDINSURE, WAPIC and LAWUNION all about 25 NEM has a forward PE of about 47. Someone should be in jail for the prices they are trading at. I know say I get appetite for risk but this one pass me. I am placing the insurance stocks on the shelf for now. Having said that, to find stocks with wavy trends these days is so tough. Anyway folks should watch out for CHALLARAMS. When it happens remember who said it first!!

Actually, think WanajO mentioned CHELLARAMS a while back, sorry to bust your bubble

pumping777:
Two important results were missed by the NSE movers and shakers because this forum was kind of recess late December

Beta Glass - Excellent
Niger Insurance - Woeful

Even after the release of Beta Glass results, it was still easy to get. Cool 30% in 2 weeks.

na so so tori my broker tell me till the BETA Glass train pass me, wanted to get in at around N16-N17 2 weeks ago.

@kpineao

abeg make you post the bid/offer position for today

easimoni:
Thanks for sharing this  . I'm VERY interested. Will most likely participate.
ON the plus side; the board seems to be a good mix of technocrats and "clean(er)" politicians. Having a state govt hold a 5% stake is also a good thing. Means the govt won't be out to frustrate you. A PE of 2 and dividend yield of 25% is CRAZY.

Downside: no history (plant takes off in 2009), very little to no growth expected once the plant takes off, no NSE listing anticipated any time soon means no exit opportunity.

I think my decision hinges on how much progress they've made on gound (anyone know?), but I'm leaning toward throwing a couple % of my folio at them. Expect 100 to become 1000 if/when they list and hit the forecast. Otherwise, u can collect N25 dividend (per N100 share), till further notice.

Bigjay: u da man!

Is this not the same Orient pp that was only 5% subscribed the last time?  I have not read the prospectus yet, but I am curious as to what has changed between then and now.  If institutional investors did not find it exciting then, what has changed now?

pumping777:
Unfortunately I don't know. We never discussed this. I will find out from my broker.

Will appreciate it a lot, not too particularly happy with my broker now

@Pumping

I am thinking of having a 2nd broker too. What's the min requirement for BGL?

Pennywise:
Absolutely. I agree with you. But the company (banks in this case) can tell SEC that despite these projections we have, on account of recent growth and other favorable market dynamics etc etc we will be able to accommodate all or part of this over subscription as Intercontinental and more recently Oceanic bank did. So it comes down to whether the bank is willing and has sufficient capacity and therefore able to persuade SEC or is not willing.

If they cannot even do a 3-month forecast, then why do you believe all the financial projections in the prospectus? I am sure it takes less than 3 months or so from the date the offer closes to know how much was raised. So in the space of 3-months, things have suddenly changed dramatically? There is actually a law that prevents companies from absorbing more than 25% oversubscription, the SEC was just not enforcing it in the past.

Pennywise:
So they are now putting a cap on shareholder's funds. Isnt that a prerogative of the Bank.

It is a pergogative of the SEC and it is designed to protect investors. If a company comes to the market claiming to need only N100billion and raises N1 trillion should the company be allowed to keep the excess funds? Remember that the company's plans and projections as stated in the prospectus only accounted for N100 billion. Furthermore, if the company really did a great job forecasting, then it should only ask for how much it needs (in this case N100 billion), any amount above this was not budgted for.

@kpineo,

Can you please post the bid/offer position for Friday?

Thanks

No contest, ACCA is better and I qualified as a chartered accountant (ICAN) 8 years ago. In fact, if you have ACCA, you can also get ACA (ICAN) by going through an induction course organized by ICAN once a year. So you can kill 2 birds with one stone

tkb417:
@dada
yeah right
the CFA will always be tasking and i think our areas of strength prior to the exams will be different from one another.
An auditor going to the exams will find the FSA like a piece of cake while someone who is already proficient in Finance will see the Portfolio Mgt and the corporate Finance angle easy.

There is no short cut to success for CFA, you need between 250-300hrs to prepare for the exams. And if ure thinking of writing the June exams and you havent started by now, then you must be a genious to pass. Mastery of the core concepts, application of the core concepts and the retention its what really maters.
Apart from devoting quality time to studying, you need a superb tuition provider/materials.

I used Stalla and im still using Stalla comprehensive package, we have schweser, 7city et al

I read from this thread that some people are doing collabo with Kaplan, that will be awesome and wil be tite. After the football games yesterday, someone told me 7city will be doing a comrehensive 2 week program for those preparing for June in Nigeria. 7city is also a good tuition provider recognized by the CFA Institute. I heard the adverts will be out today either in the Guardian or This Day newspapers. Check it out

You do not need to be a genius to pass even if you have not started studying, it's not even January yet.  I appreciate you trying to communicate the level of difficulty to people, but no need to give people heart attack, abi na how many people be genius?   You need to dedicate time for studying though as there is a lot of material to cover, especially in level 2. I used Schweser books and they were good enough.

Talktrue:
I've been on the phone for the last 30 mins with the fellow, (called home and was told he is planning to leave town and set up an industry in his Village -planning to retire on my money?). As usual he had the usual long story (don't know how the guy pulls it off, even had the guts to ask for Xmas gift), he promised to liquidate my portfolio Jan next year- said he initiated a cross deal on my stock but just found out it wasn't carried out, promised to rectify the mistake (same story) - my family suggested I stay action till next year.

They story long as usual, took 30 mins off me and even told me to convert the cost of the call and send it across to him in cash _{shakes head}
I feel like a pressurised cylinder. hmmmmmm ok ooooh
Monkey the work Baboon wan chop

If possible, tape record all your phone conversations.

Has 7up released any interim results? All I can seem to find are the audited financials for March 2007.

wanaj0:
Thank you my brother. Moved to the NEXT LEVEL already. So my LEVEL don change.

abeg, make you define this NEXT LEVEL o, abi na only you wan reach there?

Octupus:
@ALL

When is the GTB year end?

Feb