₦airaland Forum

mercylicious: From d 2012 fin report, IEI plc invested 1.7b in iei investment . iei investment owns /owned 15% of heritage ( as at d date of dt report) .

What is not know is if iei investment is solely owned by iei plc or owns a % of the investment arm n what percentage of the 15% is owned by iei plc
They called the iei investment a special purpose vehicle to their investment in heritage.

omaojo1: Madam, first of all, if there was an immediate kill to be made, IEI shares would have flown north with all guns blazing.
An SPV is the owner of Heritage bank and they own 80%, Saraki 9% and others 11%. The investment of IEI Plc in the vehicle is 1.7bn naira. The Net Assets of the bank as at the time of this acquisition was 10bn naira with Total assets standing at about 31bn naira. So IEI Plc owns 17% of the bank or 21.25% of the SPV's investment in the bank.
The unknown element here is who the promoters of this SPV is. How they are going to raise the 56bn naira consideration for this transaction is a question that is still begging for answer.

paulcube: .... but the difference between the COP deal and this one...please correct me if I am wrong...

Oando is a publicly listed & traded company, while Heritage bank is not. We also know the financiers of the COP deal.

omaojo1: Did you read where Mercy is taking a position in IEI Plc because of this acquisition. Oh, you mean Yahoo shareholders should not bother about what is happening in Alibaba because it is a privately held company right?

paulcube: 2. For the COP deal, due to the various financial engineering involved in the acquisition, I will not doubt it is 50% debt and 50% equity. Nobody can!

paulcube: 2. For the COP deal, due to the various financial engineering involved in the acquisition, I will not doubt it is 50% debt and 50% equity. Nobody can! All I can say is that we know the guys that provided the debt component to the transaction, and the full facts will come out when their audited 2014 results are released or when they come to the market for rights issue. We won't find anything tangible in the audited 2013 result.

paulcube: Fidelity definitely bid less, and because they are listed, they will be a lot more transparent.

paulcube: .... but the difference between the COP deal and this one...please correct me if I am wrong...

Oando is a publicly listed & traded company, while Heritage bank is not. We also know the financiers of the COP deal.

Whenever Heritage banks comes to the market or for listing, they will have to make everything plain for us all to understand before we buy into the bank.

For this particular transaction, I am least bothered because the truth will be revealed with time....If the guys cannot pay, Fidelity definitely bid less, and because they are listed, they will be a lot more transparent.

paulcube: Very true.... but do you bid without knowing where to get the cash??

mercylicious: Abeg check the 2013 result, it willbe there.
i asked google the business of Heritage bank and their owners(not directors). Some news papers said iei is d major shareholder while d said family has 10%.. Others said IEI has 10 % same as the BUKOLA family.

Mpeace: I'm begining to understand myjoy08's believe in oando, and I now see some sense in the believe that they may post a very impressive result(whenever they decide to) and even pay dividends. I just did a personal analysis of the whole COP deal, and my conclusion is that the whole sum spent in the purchase would not reflect in the profit and loss analysis. They may only appear in the liabilities column, and almost every company on the exchange do have liabilities(large or small). For instance, the sum borrowed from several financial institutions by FO and Transcorp to finance their power sector acquisitions did not reflect as losses in their results. Although there are outstanding payments to be made on the COP deal, the proceeds of the acquired company's buisness may just be used to defray the outstanding sum while that of the rights issue would go to the settlement of liabilities to financial institutions. I also think that the delays in releasing the result and the whole hide and seek game are justa n attemt at making investors to sell in frustration, while WT and friends mop up and accumulate more shares. Just an opinion(I might be wrong).

Dexterax: Omaojo hehehe...

Here's what a former Alibaba employee had to say about his alma mater:

"Alibaba is not a group of civilized gentlemen, or men who nicely play by the rules..."

"They are reckless with ambition, they are radical and aggressive. Everyone walks out of a meeting room beet-red from shouting, that's how we held meetings - our voices raised. Its very intense."

Moneysage: (omaojo1 and Joysmart, una sef don join dem?)

Michael11stock: Stock Pick Alert JAPAUL due diligence please for those inside Oando Entry price 25.20 while your exit price should be 27.000 hope this help cheers. where are my girls?

kotlass: @Omaojo1 and @Passwelle; In developed markets/economies, it is a life-changing opportunity to be able to identify promising startups before they become a behemoth like Alibaba. Imagine investors who put down the seed capital for Alibaba and the likes. I wish I could adopt this investment strategy.

passwelle: Pls can someone confirm the closing price of Access today

hbrednic: N9.80, who is their marketmaker ? good job

passwelle: Erm there is a Merrifield at Dunn Loring Station in Fairfax County, VA

feelamong: these guys are really doing a great job here!

who is the market maker for Cadbury? they have to go and learn well o!

Dexterax: In a bid to maintain my intellectual humility and if it means anything to some folks here, please note that Dexter has liquidated 100% of his oxygen holdings, for a 59% profit.

The liquidation exercise was carried out in late afternoon trading yesterday.

UkwuAmu: Sir Dex we go begin use dictionary to understand your coding and you got a patner in crime in Omaojo. They will confuse you with their good command of the language that they can tell you to go eat shit and you will gladly and smilingly obey because the apt way they will put it.

mercylicious: i feel d banks will take a beating today overd plan toincreaseprivate sector crr.
@Omaojo, if u dey talk gain,also dey talk loss. Do u know much u will lose if u lose 10k if u hv a mil units of a share?
Stock mkt na intelligent gambling. You cannot be too sure

Dexterax: Oma baba,

Which one are we dealing with more here?

Opinion or fact?

(I wouldn't mind a response with mixed percentages)

omaojo1: Some things are better left silent

nitrogen: Nawa o, so, his post caused confusion, mainly because the word 'oxygen' appeared just once. Choi!
He passed across two solid infos, Alibaba IPO and Oxygen matter, as per Oxygen, he is saying "sell, sel, sell". Simples!

Dexterax: Omaojo u sha.
What if the majority owners of the oxygen tanks are currently negotiating to dispose off some of the tanks and record the proceeds in that interesting position of the Italian-developed financial recording system?

nitrogen: Spill it boss!

Charlesnerd: Alibaba!

dsonofmaan: .

Joysmart: If you're too lazy to read then you're not ready to succeed cos apart from reading from page 1 you still need to read other books on investment.

mercylicious: guy abeg, copy n paste here, or just give us d highlights.

Born2berich: Thank you my brother for this your supportive post.

This is enough prove that the word of God shall always come to past. As for those that dont believe, well the ball is in your court.

My own was to pass the message then.

Wetin i know.

@omaojo1 thanks bro, you too much

passwelle: Just read the proshare article and saw the advert. The resolution has not yet been passed, or has it? It will most likely however be passed.
On seeing such news, I wonder why the investors just did not bother to mop up the shares of the company that have been on offer since March at 50k to start with. I guess they would rather just pay 75k for each share. There is this story about the servant of a man who sold monkeys to villagers and told them his boss will be back shortly to buy them back ....
full disclosure: I do not own shares in ftn cocoa.

Dexterax: I have 'liked' your comment my oga, not because it stresses my opinions but because every time we think the future of the financial markets has become clear, linear and completely figured out, reality upsets our expectations, providing contrarians opportunities for unusual profits.

mercylicious: guy, an truth in d american news?
source?
i have over a million units here. .75k wont be bad
.
Please tell me wat u know here.

bigass: bnsitl. why is NSE ASI higher than FTSE, DOW JONES, S&P 500 etc. ours is 41000+ why most of these foreign markets are less than 10000

passwelle: It seems na only ftncocoa waka come today

feelamong: So na 10% we go take open this one abi?

Chibuking81: I stated some months ago, that workers salary play a vital role in returning the bullish green colour every last/first week of every month,.

Dexterax: My oga...This weekend hopefully. It's gon be a busy weekend though. Make we see as e go be.

I sent you something earlier this week. But u may ignore it though, the matter's been resolved. This your peeps don dey run countdown for me mehn...

Dexterax: Anyways I've taken the necessary positions in the stock market already if u go thru my posts.