₦airaland Forum

Fitch Returns Nigeria's Outlook to Stable, Forecasts 2% GDP Growth
**Says Inflation to Remain at Double Digits through 2019
**Debt to Hits 292% of Revenue
**Buhari Expected to Continue Economic Programme if Re-elected
https://www.businesspost.ng/2018/11/09/fitch-returns-nigerias-outlook-to-stable-forecasts-2-gdp-growth/

Nigeria Starts Roadshow on $2.8b Eurobond in London
https://www.businesspost.ng/2018/11/09/nigeria-starts-roadshow-on-2-8b-eurobond-in-london/

DeRuggedProf:
Great!!!


https://www.businesspost.ng/2018/11/08/sp-downgrades-diamond-bank-ratings-raises-alarm/

There is a reason I keep posting this....
Ignorance will NOT be an excuse when Dozie is done....

na count down he de
dem eurobond don de inch >20%
deriz more drama coming

Mcy56:
FCMB, 8416 units sold since market opened.
Buyers and sellers just packed their wares for shop, they come dey look each other's face.

lollx ..

fxuser:
FBN
- they say a down trend is a series of lower lows and lower highs abi
- lower low seems in place with dat 7.05 lowest daily closure
- dis is a potential possibility for awon quick pro-JIJO
lol

JIJO Alert

- next comes a lower high

Brent
- break below $70/bbl

News

- Venezuela's inflation rate just hit 830,000%

fxuser:
na count down he de
dem eurobond don de inch >20%
deriz more drama coming

Las Vegas calling...

fxuser:
News

- Venezuela's inflation rate just hit 830,000%

This country need to be listed.......
Their economy can give a 15yr old complete grey hair after managing it for 3hrs...

DeRuggedProf:
This country need to be listed.......

Just as a "future commodity".... I will just concentrate and bet after their survival.

PETERiCHY:
Nothing do us this the way we now view thread

That drawing though

In times like now: https://www.warriortrading.com/sniper-approach-trading-tactics/

Mpeace:
Ayam humbled

Is that why you have been missing class now? Humility is a virtue you know.
Its those in Wapco and FM that are really humbled.

Mcy56:
Is that why you have been missing class now? Humility is a virtue you know.
Its those in Wapco and FM that are really humbled.

Classmate, I cannot come and go and get grey hair at my young age.

DeRuggedProf:
Great!!!


https://www.businesspost.ng/2018/11/08/sp-downgrades-diamond-bank-ratings-raises-alarm/

There is a reason I keep posting this....
Ignorance will NOT be an excuse when Dozie is done....

Hahahahaha.. Prof people are buying base on, no matter the bad news diamond will still rally when bull show face you won bet am ? Even you go buy

As for me and my household diamond was a F up that needs to be in our portfolio as a reminder never to buy a stock base of “hope” that they’ll do well in their results.. seeing is believing..

If i should sell today, I’ll still get out 2 million naira but I ain’t selling.. I like as I dey open my portfolio dey see am on red.. keeping me in check..

Mcy56:
Is that why you have been missing class now? Humility is a virtue you know.
Its those in Wapco and FM that are really humbled.

humility is yet to begin, let dem first declare their full year result in the mist of GT giving #2.45 final dividend,then you will move from humility to piety

DeRuggedProf:
This one has gotten a court order restraining CP/OGG from carrying out any form of FA on it....

In another ruling, BBM/FXUSER were handed a restraining order from ever carrying out any form of TA on FMN.
The judge agreed with the technical team that FMN is too sick to be dressed in all the technical jargons.

The order has firmly guaranteed FMN to be under the custody of Ichimoku cumulus clouds. All travelling documents were confiscated.

Reacting to the judgement, WAPCO filed a suit challenging its continued detention by the Bears.
Counsel to the Bears insisted that WAPCO can not be granted bail as all the funds the shell holders provided can no longer be traced.

We will keep you updated......

...U will not kill me with laughter prof !!
U my dear, is multi-talented.
On a side note, u might also want to consider been a comedian as a pass time.

Regards.

maishai:
humility is yet to begin, let dem first declare their full year result in the mist of GT giving #2.45 final dividend,then you will move from humility to piety

Ummm Too much sense will not Kill You.

valentinenwoko:
PLS WHAT IS THE IMPLICATION AS REGARDS MERGER OF CCNN AND KALABIMA CEMENT AS REGARDS TOTAL ISSUES SHARES. I HAVE A FEELING THAT IT WILL INCREASE FROM 1.2 BILLION TO 13 BILLION.

On CCNN, folks should exercise cautious optimism. ...particularly in the short term.
'Cause with a view to the scheme of merger document, I think there'll likely be a significant dilution to minority shareholders from the proposed consideration of the merger with kalambaina cement company Ltd.
OS will most likely increase by over 907% from the current 1.3B to about 13.1B !!
...which in the short term, will impact the coys ETERPRISE VALUE, AsY, FCFE, FCFF, EPS, ROAE, ROAA, and EM.
So cautious optimism should be anyone's watchword for now.

U may also wish to read thru this piece I posted in a group chat investment platform some days ago, below;

Late yesterday, we received the scheme of merger document which finally provided the much-needed clarity required on the expected dilution to shareholders of CCNN from the proposed merger of Cement Company of Northern Nigeria (CCNN) and Kalambaina Cement Company Limited (Kalambaina) – a wholly owned subsidiary of BUA wherein the new cement plant (1.5MT) in Sokoto sits.
The consideration now signals a substantial dilution for minority shareholders following an unexpected premium on the construction cost infused in intangibles of N207.3 billion.

In our earlier report on the proposed merger published in July 2018 following the press release by management on the share conversion ratio (See report: ), wherein we adopted a net asset valuation approach in valuing the $350 million construction cost using prevailing exchange rate of N360/$ (Scenario 1) and average exchange rate over the 3-year construction period of N251/$ (Scenario 2) which translates to asset value of N126 billion and N87.9 billion respectively.

To our surprise, while the addition to property, plant and equipment (PPE) from the proposed scheme was not too far from our estimates, the management included an additional value of the sale in goodwill. For context, the enlarged CCNN post-merger PPE is expected to increase by N107.5 billion – implying that management adopted an exchange rate of N307/1$ in treating the construction cost of $350 million – to N119.8 billion. However, the enlarge CCNN’s intangible assets increased to N207.3 billion from just N499 million in FY 17.

Any ‘STEW’ for minority shareholders. Recall, management of CCNN announced the consideration for the merger will be based on 100,000 shares of Kalambaina for 19,811,372 shares of CCNN (1:198) using the 30-day volume weighted average (VWAP) closing price of N25.99. Examining the impact of the proposed consideration on shareholders, using our estimated proposed conversion cost of N308.9 billion and overlaying that on the VWAP, we arrived at additional shares of 11.9 billion (in line with the scheme of merger document) which cascades total shares outstanding to 13.1 billion from current of 1.3 billion. Thus, we see a significant dilution to shareholders from the proposed consideration of the merger.

Volume consolidation ahead of merger. In our recently published cement sector report (See report: ), we stated that the cement volumes reported by CCNN was inclusive of sales from Kalambaina. True to our words, the scheme of merger revealed that the reported revenue of N12.1 billion (+425 YoY) over H1 18 is that of the enlarged CCNN. For context, our suspicion was on the back of the estimated volume over H1 18 of 284,454 tons, which suggests that remaining expected production from the plant for H2 cannot exceed 215,546 tons to sum up to the expected annual capacity of the plant of 500K ton. However, using our H2 17 and H2 16 estimate of 264,496 and 263,808 tons respectively, we believe it is unusual for the plant alone to have produced so much in H1 18.

While we maintain our volume and earnings expectation for the company over 2018 and beyond, the increase in shares outstanding informed a material adjustment to our FVE to N17.01 from previous estimates based on our expected 6.10 billion shares of N28.47, which translates to a SELL rating on the stock. CCNN trades at a current P/E and EV/EBITDA of 5.9x and 3.65x relative to Bloomberg Mena peer average of 9.31x and 17.32x.

Management is proposing a shareholders meeting to be held on the 29th of November 2018, wherein they are expected to approve the terms of the merger.

fxuser:
Brent
- break below $70/bbl

we don chop belly full from here. oyel money sweet na instant

check forex thread u will see how we dig the oyel over night

cc BullBear

Mpeace:
Classmate, I cannot come and go and get grey hair at my young age.

Lol. It will only make you stronger and tougher like mendes911.

Mcy56:
Is that why you have been missing class now? Humility is a virtue you know.
Its those in Wapco and FM that are really humbled.

Is that one humbled or humiliated?

maishai:
humility is yet to begin, let dem first declare their full year result in the mist of GT giving #2.45 final dividend,then you will move from humility to piety

Lol.

Agbalowomeri:
Is that one humbled or humiliated?

savage !

Agbalowomeri:
Is that one humbled or humiliated?

My oga you know best.

New Investors: Diamond Bank Rubbishes Ex-Chairman’s Claim
https://www.businesspost.ng/2018/11/09/new-investors-diamond-bank-rubbishes-ex-chairmans-claim/

dipoolowoo:
New Investors: Diamond Bank Rubbishes Ex-Chairman’s Claim
https://www.businesspost.ng/2018/11/09/new-investors-diamond-bank-rubbishes-ex-chairmans-claim/

Until I see the new investor and 100% sure dozie is gone for good ain’t believing nothing.. this bank too get many stories

onegentleguy:
On CCNN, folks should exercise cautious optimism. ...particularly in the short term.
'Cause with a view to the scheme of merger document, I think there'll likely be a significant dilution to minority shareholders from the proposed consideration of the merger with kalambaina cement company Ltd.
OS will most likely increase by over 907% from the current 1.3B to about 13.1B !!
...which in the short term, will impact the coys ETERPRISE VALUE, AsY, FCFE, FCFF, EPS, ROAE, ROAA, and EM.
So cautious optimism should be anyone's watchword for now.

U may also wish to read thru this piece I posted in a group chat investment platform some days ago, below;

Late yesterday, we received the scheme of merger document which finally provided the much-needed clarity required on the expected dilution to shareholders of CCNN from the proposed merger of Cement Company of Northern Nigeria (CCNN) and Kalambaina Cement Company Limited (Kalambaina) – a wholly owned subsidiary of BUA wherein the new cement plant (1.5MT) in Sokoto sits.
The consideration now signals a substantial dilution for minority shareholders following an unexpected premium on the construction cost infused in intangibles of N207.3 billion.

In our earlier report on the proposed merger published in July 2018 following the press release by management on the share conversion ratio (See report: ), wherein we adopted a net asset valuation approach in valuing the $350 million construction cost using prevailing exchange rate of N360/$ (Scenario 1) and average exchange rate over the 3-year construction period of N251/$ (Scenario 2) which translates to asset value of N126 billion and N87.9 billion respectively.

To our surprise, while the addition to property, plant and equipment (PPE) from the proposed scheme was not too far from our estimates, the management included an additional value of the sale in goodwill. For context, the enlarged CCNN post-merger PPE is expected to increase by N107.5 billion – implying that management adopted an exchange rate of N307/1$ in treating the construction cost of $350 million – to N119.8 billion. However, the enlarge CCNN’s intangible assets increased to N207.3 billion from just N499 million in FY 17.

Any ‘STEW’ for minority shareholders. Recall, management of CCNN announced the consideration for the merger will be based on 100,000 shares of Kalambaina for 19,811,372 shares of CCNN (1:198) using the 30-day volume weighted average (VWAP) closing price of N25.99. Examining the impact of the proposed consideration on shareholders, using our estimated proposed conversion cost of N308.9 billion and overlaying that on the VWAP, we arrived at additional shares of 11.9 billion (in line with the scheme of merger document) which cascades total shares outstanding to 13.1 billion from current of 1.3 billion. Thus, we see a significant dilution to shareholders from the proposed consideration of the merger.

Volume consolidation ahead of merger. In our recently published cement sector report (See report: ), we stated that the cement volumes reported by CCNN was inclusive of sales from Kalambaina. True to our words, the scheme of merger revealed that the reported revenue of N12.1 billion (+425 YoY) over H1 18 is that of the enlarged CCNN. For context, our suspicion was on the back of the estimated volume over H1 18 of 284,454 tons, which suggests that remaining expected production from the plant for H2 cannot exceed 215,546 tons to sum up to the expected annual capacity of the plant of 500K ton. However, using our H2 17 and H2 16 estimate of 264,496 and 263,808 tons respectively, we believe it is unusual for the plant alone to have produced so much in H1 18.

While we maintain our volume and earnings expectation for the company over 2018 and beyond, the increase in shares outstanding informed a material adjustment to our FVE to N17.01 from previous estimates based on our expected 6.10 billion shares of N28.47, which translates to a SELL rating on the stock. CCNN trades at a current P/E and EV/EBITDA of 5.9x and 3.65x relative to Bloomberg Mena peer average of 9.31x and 17.32x.

Management is proposing a shareholders meeting to be held on the 29th of November 2018, wherein they are expected to approve the terms of the merger.

Where went you?
CCNN : waiting patiently

fxuser:
- lacking d expected FOMO from the squeeze ** wt weak post earning reaction
- seems this range may go much longer than my time frame , will prefer a breakout play
-

Further Red Flags , support don turn to resistance ! !

fxuser:
Further Red Flags , support don turn to resistance ! !

Please what about FBNH?

currentprice:
we don chop belly full from here. oyel money sweet na instant

check forex thread u will see how we dig the oyel over night

cc BullBear

Congrats CP ...Enjoy

Yayira:
I Humble

That’s good babe. Humility is one of the key to greatness. Hope you’re good? I hope you will stay away from market a bit and let’s enjoy Christmas with no worry

dipoolowoo:
New Investors: Diamond Bank Rubbishes Ex-Chairman’s Claim
https://www.businesspost.ng/2018/11/09/new-investors-diamond-bank-rubbishes-ex-chairmans-claim/

There is evil in this pot!
The major shareholders are scamming the minority shellholders with Dozie.
It is so unfortunate.