davide470:
Have you all seen this!!!!

Par value now 0.01NGN (1kobo) as against 50kobo..

davide470:
Have you all seen this!!!!

Par value now 0.01NGN (1kobo) as against 50kobo..

PETERiCHY:


That's the game changer and the best news in the history of NSE.

PETERiCHY:


That's the game changer and the best news in the history of NSE.

davide470:
Have you all seen this!!!!

Par value now 0.01NGN (1kobo) as against 50kobo..

taiwoliu:
Oga mi, I no understand ds a beg. Is it d price of a particular stock or what?
If so wch 1?
I'm a learner ooo

davide470:
Bros!

It means the nominal value of any share now is at 1 kobo as against 50 kobo. Japaul Oil, FTN Cocoa and most of the Insurance stocks can still go down from their 0.50 sickness!

megainvest:


I don't understand why this is good news. Does it mean all stocks will automatically be reconstructed to 50 for 1?

Kagame:


Before now, stocks are not allowed to trade below 0.50k. i.e a stock whose price is 0.50k can only go up ,but not down.

Now ,the car park has been revised to .01k. Any company that does not perform might see its stock fall to .01k, which makes it an easy target for a hostile takeover.

Kagame:


Before now, stocks are not allowed to trade below 0.50k. i.e a stock whose price is 0.50k can only go up ,but not down.

Now ,the car park has been revised to .01k. Any company that does not perform might see its stock fall to .01k, which makes it an easy target for a hostile takeover.

megainvest:

If this is the case, it is very bad news! If there is no automatic reconstruction, it is a huge scam. This means people who bought stocks at 50k hoping it won't go below that are in for huge losses. It is similar to what Unity did. I have never been a fan of 50k stocks but I have a few (Japaul etc worth max about 20,000 NGN which I am willing to lose). I pity those who have millions in these stocks!

mercylicious:
Time to fling with IAA.

angelo82:
Access is going down a little below 5 and thats just the only and best time for traders to buy...............And as per Amcon issue,Access is number on their list..............Somethings tells that Chike has started offloading Amcon shares already because he said something like it will be done at the right time.............Amcon offloading will affect all the banks and also companies indebted to them,if I could recall the detail of the acquisition of sick bank and acquisition of bank bad loans from all the banks.............I have sold all my FBNH,the last batch that I bought at 9 and I am waiting for some stocks to touch their low..............Most blue chip stocks are the best to buy in bear time because they will recover fast......If UBA,FBNH and Access can touch a new low,it will be the best time to make a kill within short period................This offloading might take some days............Best strategy is to have cash sitting in your broking account and rush in as soon as they hit their low.........Its gravitational,they will definitely come up......Afriprud is good too if it go below 2.40........These are tested and proven shares that I have made profits........The trend is repeating itself...........

angelo82:
It can't be good at all............This is another way to fleece investors and it could reduce the value of all the stocks listed on NSE because they might go lower they are suppose to go............Unity for sure is going down more by 70%..................

saibuhari:


@Myjoy. What drama are you talking about that will happen in Access? Please give a clue. Thank you.

davide470:
Have you all seen this!!!!

Par value now 0.01NGN (1kobo) as against 50kobo..

myjoy08:


Sir, stop living in a state of emotional exasperation (of stock market) lol...the reality might be far from your prediction and rushing to sell your stocks is not a good option in this case. Be greedy when others are fearful is the watchword lol

angelo82:
You dont need to lecture me on how to make a smart move............The stock that I sold had made me some profit and I had to opt out at safe price a little higher than the price that I bought it........I knew those stocks will fall to some extent and I am done waiting for stock to fall until they will reach my own peak,so I took a safe route because I have reason taking a cue..........I may not know much,but there are few stocks here that I have been investing in since 2004 and I know a lot about their movements...............I know when to wait and I know when not to wait............The only stock I couldn't sell was Access because it will be at a 10% loss and I can't allow that so I will have to wait..............I didn't sell UBA because I bought lower than current price but if it shows further movement south,then I will jump and wait for a while.......I have always been in hurry to invest but now I have learnt how to be patient before buying any stock.........I may not know about Costain,Vitafoam and Vono but Access,Uba,Afriprud and FBNH I am very familiar with them..............The bear is good,I tell you but I reject to be a victim of bear but a beneficiary..............

sophy17:
[/b]

Here we go again.
The man who knows tomorrow.

angelo82:
It can't be good at all............This is another way to fleece investors and it could reduce the value of all the stocks listed on NSE because they might go lower they are suppose to go............Unity for sure is going down more by 70%..................

drtonyo:


Firstly Sir Angelo82, kindly quote first before posting comments. It makes your point clearer...

Secondly, You don't seem to understand the concept of par value . It has nothing to do with prices of shares trading above 50 kobo like unity which is #2.60

You may wish to download and read the file attached to the original post. Cheers

angelo82:
Ok Doc,I will do just that...........I was reluctant to read the full details since Proshare stipulated in their article that they have no idea when it will start...................

drtonyo:


Sir,

Here is the full text of the statement for your viewing pleasure....

RULES AND REGULATIONS GOVERNING DEALING MEMBERS
AMENDMENTS AND ADDITIONS (VII)1
ARTICLE 100A: PRICING METHODOLOGY - PAR VALUE RULE

(1) Notwithstanding its par value, the price of every share listed on The Exchange shall
be determined by the market, save that no share shall trade below a price floor of
one Kobo per unit (N0.01).

(2) “Par value” is the nominal value of a share as stated in the Memorandum of
Association of an Issuer.

(3) “Price floor” means the amount below which the price of one unit of a share shall
not be permitted to trade, and the minimum amount which must be paid for a
share in the event of a drop in the unit price of that share.

drtonyo:
I think it will start tomorrow ( i stand to be corrected)

angelo82:
I just received the document in my mail from UBA capital....................I want you to tell me of what benefit will this stock be to you except if you are aiming at benefiting from the misfortune of others?............