₦airaland Forum

their q1 result is out and looks solid in EPS, zero debt and almost positive retained earning.
closed +10%

IYGEAL:
Many buyers lined up for UNIVINSURE. Where did they come from though? You'd expect the sudden bids to have come from a single entity, but buyers plenty.

Reports reaching Nairametrics indicate the central bank has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate.

This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.

The initial understanding of this message is that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate.

Nairametrics confirmed this from multiple sources at the central bank and from traders with knowledge of the matter.

However, official confirmation will have to come later in the day when data from the FMDQ is available. Nairametrics also understands official confirmation will be issued by the central bank.

Sources also report trades are now going for as high as N750/$1. Meanwhile, in the black market, the exchange rate traded for as high as N773/$1 for “inflows” which represent dollars or other currencies sold over the wires.

This is a developing story, check back later for details….

https://nairametrics.com/2023/06/14/breaking-banks-told-to-trade-forex-freely-in-nigeria/

Universal

Streetinvestor2:
I don't get.1 billion units of which stock was bought

which of the 2 stocks should one position in for higher consolidation.

customstreet:
Hello Folks

I don’t know if you see what I saw

Dangotesugar Sugar Plc + Nascon Plc = Dangote Foods Plc

Time will proof me right

1 billion units is above 5% of the total shares, i believe this transaction should have be publicly reported, as it is significant (ngx rules).

Lastly, any update on their 2022 audited result.

customstreet:
I am priveldged to be part of those that scouted for this stock for the investor. We actually scouted for 1 billion units and the result was what u saw last week. There is no qualms for anything.

current price is the sweet spot, if the the bull is strong, max entry is 12-13naira for now.

otokx:
In your opinion, what is the maximum entry price for UBA?

may the bulls enter the insurance sector especially Universal . UBA is doing me proud. still undervalued.

Page 7000 with pride

Great Agba, im ready to join, i even have my sacrifice ready.

UBA has no business selling below 12naira at current Forward EPS

Agbalowomeri:
If you agree to be initiated into our confraternity, we will give you free of charge

my collateral no reach o

emmanuelewumi:
Talk to your bank or Stockbroker, if you have acceptable collateral your request will be approved within 4 to 6 hours

i will disclose after i raise my fund.

Zagee:
Where is the corruption happening??

abeg who fit borrow me 465million naira, for 1month

We Stand Strong!!!!

Ades1:
Just thinking out loud, all long term investors gather here, in the last three short years we have survived Covid, Ukraine War, Bank runs, and Recession fears(still ongoing) etc.

Through it all, we held strong and continued to buy! I am not saying the coast is clear yet, but it will be hard to match these last three years. Maybe World War 3 is still loading? In any case, we are still standing and holding strong. Lets give ourselves high fives, it wasn't easy!

Going forward, it is probably not going to get easier, however, we need to keep our eyes on the prize!

2006 honda accord
Colour: black blue
Gear: Manual
Mileage: 110,000
Perfect condition, simply start and drive.
1st bidy repainted ans baked

Price 2m.

08061156610

Sovereign Trust Insurance (STI) is tearing up with another full bid today, +9.52%.
I expect them to declare dividend by year end 2023.

I just bought last week from oyingbo, lagos. Call 08061156610

AutoManual:
I need it for driver door urgently.

If you have or can help me get it I need it urgently.

If you have driver and passenger to sell together I mind

Its the audited report we dey wait for o.

Mfunkynation:
but where is their fy 2022 results

come direct. Lol. Universal shall rise. Retained loss has reduced and almost positive.
Same strategy worked with soveriegn trust when i bought at 20kobo, currently +100%.

[quote author=seyisanya post=123095694][/quote]

presidency pre-inauguration BULL

Marketapprentic:
Bull maybe upon us .

I wont write off caverton. they need one major deal to bounce back strong. if naira is properly devalued to a single rate, all air operators will get significant relief.
Their new subsidiaries are picking up in revenue. Also the incoming govt is would be favourable to them.

i wont buy at current price till earning improves.

Sovereign Trust Insurance is moving. about time. I predict this year will be a turnaround year for dividend payment.

A 402sqm allocated land in Post Service housing development Ltd (Nigeria Army), Jericho, (near golden tulip hotel) with set back opportunity of an extra 400sqm on 3 sides.
Price: 35m


https://www.youtube.com/watch?v=3bzfDbp5o4A

Contact verified landlord: 09096500350
Email: info@verifiedlandlord.com

Got mine last night.

Dave2011:
I haven't seen my UBA dividend yet, anybody in my shoe?

Respect the cowboys.

Agbalowomeri:
Cool billions
That's the way of the cowboys

i dey check my phone every 2 mins, i never see alert o.

Ibrahim505:
UBA just landed

well said.

onegentleguy:
ON ACCESSCORP 2022 YE report...

Bottom line: ACCESSCORP is good, but UBA is better. ...well, for now!
If the share price of the former can push up because of its proposed div cash flow, the latter will because of its slightly better fundamental stance.

CAVEAT: NOT to be inferred as any sought of recommendation. ...the need for due diligence should still take higher precedence ahead of this post.

It is well.

FG approves Oxford Malaria vaccine
“The Marketing Authorization Holder is Fidson Healthcare in line with the Agency’s Drug and Related Products Registration Regulation 2021.
https://nairametrics.com/2023/04/17/fg-approves-oxford-malaria-vaccine/

Billionaire investor Femi Otedola has acquired 5.52% of Transcorp shares making him the second largest shareholder of the company.

Nairametrics reported on Tuesday that a trade of about 1.5 billion units of Transcrop shares valued at about N2.1 billion crossed at the close of trading on the 11th of April. Another 115 million units of the stocks crossed on the exchange closing at N1.4 per share.

On further probing, Nairametrics can confirm that the transaction was consummated between an entity owned by Femi Otedola and an unnamed seller. Another source however confirmed the transaction reported on Tuesday was AMCON related.

Reliable sources with knowledge of the transaction inform us that the billionaire now owns about 2.245 billion shares representing 5.52% of the company. According to company records, the only other shareholder with over 5% ownership of the company is UBA Nominees which owns about 9.25% of the company as of December 2022.

No other shareholder held above 5% according to our records. The company also has about 39.65 billion out of its 40.65 billion outstanding shares on a free float. In fact, 1,695 people own about 89% of the company’s shares.

Why this matters?
With the acquisition of 5.5% of Transcorp, sources suggest the billionaire investor is likely to set the stage for another bidding war for control of one of Nigeria’s indigenous and most recognized conglomerates.

Transcorp is currently controlled by billionaire investor Tony Elumelu who took over control of the company in 2012. Since then the company has gone on to acquire a power generation company and branched into the oil and gas sectors of the economy.

Femi Otedola also recently acquired significant control of FBN Holdings early last year when he announced he had acquired shareholdings above the 5% threshold. That also immediately triggered a bidding war for the stock. However, unlike FBN Holdings, Transcorp has a single majority shareholder with control of the company.

Mr. Otedola also owns a close to 90% stake in Geregu Power Plc which it recently listed on the Exchange last year. It is unclear if the latest acquisition is aimed at doubling down his investment in the power sector.

Nairmetrics could not immediately obtain comments from Transcorp or from Femi Otedola’s team. We understand the acquisition could be made official within 24 hours.

Latest results
Transnational Corporation Plc (Transcorp) released its financial results for the full year ended December 31, 2022, showing the Group’s total revenue rose by 21% from N111.2 billion in December 2021 to N134.7 billion in the period under review.

Its operating profit also experienced significant growth, rising from N38.5 billion in December 2021 to N46.7 billion in December 2022.

Its profit before tax rose by 8% to N30.3 billion compared to N27.9 billion in December 2021, however, profit after tax fell from about N23.8 billion to N16.8billion

Source https://nairametrics.com/2023/04/12/breaking-femi-otedola-acquires-5-52-of-transcorp-plc/

Time to follow the big money. Those who bought geregu on listing are upto 200%.

just too bad

ucheson2:
Exactly
In fact that is the problem I have with Morgan and Meristem, whenever people need to rush in or out of the market that is when they will deliberately pause their websites. Later now they will come up with their usual maintenance excuse.

who cry?

Una dey see Neimeth number, over 1.5billion value traded at N1.48