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Re: Nigerian Stock Exchange Market Pick Alerts by mendes911: 2:42pm On Dec 18, 2018 |
fxuser: Thanks FX. |
Re: Nigerian Stock Exchange Market Pick Alerts by mendes911: 2:48pm On Dec 18, 2018 |
DeRuggedProf: Bros, those kidnappers might turn around and kidnap me instead. LOL. My GUTS have saved me so far but I need to incorporate this TA. If only Agba will also introduce me to his JAZZMAN, 2019 will then be complete. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 2:48pm On Dec 18, 2018 |
AN APPEAL TO BECOME A FEMALE MEMBER OF THIS FORUM. I hereby write to seek your permission as forum member to allow me to change my sex from male to female. I promise to be a well behaved female member till December runs out. This will enable me to convince Yayira to open the cockpit of Diamiond bank and allow me in. I have gotten a spare engine and landing gear for her. I will appreciate if this appeal is given urgent and desired attention. Best regards..... |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 3:16pm On Dec 18, 2018 |
DeRuggedProf: NOT GRANTED ! This has nothing to do with diamond but a lot to do with shortage of blokos.. it’s already 7 women for 1 man.. mba we no want more.. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 3:16pm On Dec 18, 2018 |
onegentleguy: https://nairametrics.com/access-bank-plc-and-diamond-bank-plc-merger-a-lofty-deal-or-a-damp-squib/ |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 3:17pm On Dec 18, 2018 |
Yayira: Lol.... |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 3:26pm On Dec 18, 2018 |
DeRuggedProf: Lol why you dey laugh on the bold? The door it is open but you have to be in line.. so join and wait for someone kind to allow you enter |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 3:31pm On Dec 18, 2018 |
Has the money from US market entered NSE ? The land is green everywhere 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by MonkeyHunter: 3:33pm On Dec 18, 2018 |
onegentleguy: I am not a financial expert but I am of the opinion that the share exchange will be treated using the fundamental principle that on the stock exchange you cannot manufacture or destroy value so if you pay dividend or bonus shares your shares must be marked down. 1) The cash payment to diamond bank share holders will be treated as a dividend payment so Access Bank shares will be market down for the dividend payment. 2) Shares issue to Diamond bank share holders will be treated as a bonus issue by Access Bank and the Acess Bank shares will also be marked down for the issue of these shares. 3)Diamond banks shares (Diamond banks market cap) that are cancelled will be treated as a reconstruction and Access Bank shares will be marked up for the cancellation of these shares. Access Banks Market Cap post-Merger = (Market Cap of Access bank at cut-off date + Market Cap of Access bank at cut-off date) - Cash payment to diamnd bank share holders Access Bank Market Cap Post Merger = Adjusted Access Bank Shares (i.e marked down or up) * shares in issue post merger Shares in issue post merger = Issued Access bank shares pre-merger + (2 *Issued diamond bank /7) In effect the sharing formula (shares to be given to each shareholders) is already know but the value to be shared (combined market Cap of each party) is not know. The adjusted share price of Access Bank post merger will be a function of the final share price of Diamond and Access on the cutoff date.The increase in the share price of diamond bank works in Access Bank share holders favour as it implies that there will be less reduction in the value of the shares by virtue of a markdown. For Example if Access stays at N7.85 and Diamond rises to N5 Access pre merger market Cap = 28,927,971,631 * 7.85 = N 227,084,577,303.35 Diamond pre merger market Cap = 23,160,388,968 * 5 =N 227,084,577,303.35 Combined Market Cap = N 227,084,577,303.35 +N 227,084,577,303.35 - N23,160,388,968.00 (cash payment) = 319,726,133,175.35 Shares issued to Diamond bank = 2 * 23,160,388,968.00 / 7 = 6,617,253,990.86 Post Merger Shares in Issue = 6,617,253,990.86 + 28,927,971,631 = 35,545,225,621.86 Adjusted Share price post merger = 319,726,133,175.35 / 35,545,225,621.86 = N8.99 In summary, till share prices of both parties are frozen things are still fluid as per but Access gets 81% of the combined party while diamond gets 19% plus N23b cash Apologies for my long posts 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by akinssan(m): 3:35pm On Dec 18, 2018 |
Glue don comot for FCMB chair, l no even know whether na India or Chinese Gum hold am for 1.55 |
Re: Nigerian Stock Exchange Market Pick Alerts by yok: 4:06pm On Dec 18, 2018 |
NIGERIA STOCK MARKET GENERAL COMMENT/MSCI NIGERIA PORTFOLIO MOVEMENT - AS AT 18 DECEMBER 2018 The closing figure today is showing that a lot of money is in the market. The closing figure surpassed the projection widely. For tomorrow, the closing figure is likely to be higher than the projected high, so much money in the market looking to buy (good stocks) For Wednesday 19 December 2018, expected High is 30,894.16 low at 30,678.66. The next level for the All Share Index,we need to watch is 31,213.11 This is the market for us, last week bearish, now there is so much cash in the market By tomorrow morning we will see what MSCI Nigeria did today in the market. Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). N:B 1. Due to the fact so many new people are coming to this forum and may not know this use of following the “big monies that move markets”, I will be indicating why/how to use the information. This will be a permanent future of my post to reduce some comments which may prevent the people that understand the system from confusion by people who have not followed how this started. My comment for today for anybody who doubts the efficacy of following the fund is to look at my recent recommendations for the past 2 months. 2. The fund will still hold some equity, the terms of service states this. Thus no matter the condition of the market, it will not liquidate to Zero, unless the fund is exiting from the particular Country involved. This is an equity fund investing in the Nigeria market. The date displayed may not be the actual date of purchase/sale of equity (this is lega and allowable under the regulations guiding funds operations in general). 3. You cannot bear losses like the fund. The pocket of the fund is too deep. Therefore, as an individual you are not suppose to be in the market during the stock market crash. Before or during the crash, reduce your holding. If you are seeing this type of data on MSCI for the first time. You may need to verify the figures. Go to my previous posts (https://www.nairaland.com/yok/posts), you will see the various sources where the data can be verified. |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:07pm On Dec 18, 2018 |
.... 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by OGOg: 4:08pm On Dec 18, 2018 |
akinssan:Fcmb broke the 1.69 resistance today Formed a marubuzo today Trend is bullish Fxuser shebi I try 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by GonFreecss1: 4:11pm On Dec 18, 2018 |
Yayira: Lol... shortage of... ?? Hahahahaha |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:18pm On Dec 18, 2018 |
Mobil 170 today. Is it not last week I saw it at 151? Anyone that had the gut to buy then will be in profit now. I hope Oando too will take off for the sake of my classmate. |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 4:41pm On Dec 18, 2018 |
MonkeyHunter:I agree with u Sir MH. ...and to be very honest, I also thought along that line. But then again here's my little worry; • This is Nigeria, where things tend to sometimes play out in the most unconventional ways. •The greatest benefit to ACCESS with this merger shall be that of increased non-interest income(fees and commission) and maybe higher cash base to play the investment space. The problem however is that DIAMOND has been witnessing a contraction in their deposit base(even ACCESS) Again historically, ACCESS has not been a very efficient bank(observe the trend in their cost to income ratio and EM), so I am not so confident in their ability to better manage the post merger funding base. ...they could, but i'll prefer to thread with caution. ...history teaches us to be !! • There are also issues with synergy, legacy and the effect from dilution which hitherto should impact on their profitability line. It would also be interesting to see how ACCESS manages the very bad loan portfolio of DIAMOND. • Even if things eventually play out in line with ur postulations(which I doubt), the pros with it in terms of value accretion to shareholders of ACCESS would still be suppressed by the cons. ...particularly in the short term(this is where my inclination lies) Maybe things might be different in the mid to long term. With ACCESS, valuation should very likely come in lower than its FV estimate post merger. ...and so the 'gap' with VALUE that an investor is looking to tap from might no longer be that juicy. The truth is that there are immediate benefits(returns) with DIAMOND than there are with ACCESS in the short term. ...which is why we chose to be friends with the former. With the latter, we decided on a 'temporal divorce' until such a time in future when we believe it shall be worth considering as a friend again. Regards. 2 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by tiar: 4:41pm On Dec 18, 2018 |
Wrong! It is a share and cash acquisition. Don't mislead others. MonkeyHunter: |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 4:44pm On Dec 18, 2018 |
Mcy56:lol. Pray for fidelity, transcorp and fcmb. Na where I dey now. But come oh, which bus u dey sef. I don dey suspect say you still day diamond. No forget to pay ur tithe when you drop oh. |
Re: Nigerian Stock Exchange Market Pick Alerts by musty00: 4:56pm On Dec 18, 2018 |
fxuser: Can we say Transcorp showed the signal today? |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 5:02pm On Dec 18, 2018 |
Mpeace: Una no dey ever grant tithe holiday after dis kind of bumpy ride? |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 5:20pm On Dec 18, 2018 |
DeRuggedProf:Na time of bumpy ride tithe dey |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 5:21pm On Dec 18, 2018 |
Eku Santa Claus o |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 5:23pm On Dec 18, 2018 |
Access was the worst performing stock today shedding 5.52%. |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 5:31pm On Dec 18, 2018 |
Brent collapsing again Merry Xmas, reminds me of 2014 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 5:37pm On Dec 18, 2018 |
https://www.voiceheadlines.com/access-bank-to-launch-200m-rights-issue-after-diamond-bank-acquisition/ Exclusives Access Bank to launch $200m rights issue after Diamond Bank acquisition by David Pilling, FT December 18, 2018 | 8:09 am | | | Start Conversation Related Story: Access Bank to buy rival Diamond to create Nigeria’s largest lender Access Bank which announced the acquisition of Diamond Bank to create Nigeria’s largest banking institution will launch a subordinated rights issue of about $200m to keep its capital well above regulatory requirements, bankers working on the deal told the Financial Times. Access Bank reached an agreement in principle on Sunday o buy Diamond Bank in… |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 5:47pm On Dec 18, 2018 |
Godlylifeoneart: Good a thing we decided to divorce 'the person of ACCESS'. Why do I get the feeling that the bank probably lacks enough funding power to facilitate this merger deal. Unless there's more to this, existing shareholders in ACCESS might be in for some value erosion. More possible impact from dilution loading... CAVEAT: NOT to be inferred as any sought of recommendation. ...due diligence still applies. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by MonkeyHunter: 6:00pm On Dec 18, 2018 |
No attempt to mislead anyone here. The cash portion of the transaction was accounted for in my analysis. Kindly check and confirm. tiar: |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 6:05pm On Dec 18, 2018 |
onegentleguy: Not good looking. I have been through similar experience. UBA & FBNH are better for ME. Can't withstand the cutting of onions.. One Oga told me to allow the dust settle at this bend very well before I will display my overtaking skills. It's beginning to be clearer. Immediate/long term benefits for Access might be the biblical SOON... 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 6:11pm On Dec 18, 2018 |
If that is true then we are looking at 10billion new shares by rights issue, plus 6billion shares by acquisition. Hmm Access bank is set to be the biggest bank by everything. Na diamond pple get this thing well. Na dem go enjoy the main goodies. |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 6:13pm On Dec 18, 2018 |
Mpeace: The correct headline should have read: Diamond bank shareholders acquire Access bank! 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 6:24pm On Dec 18, 2018 |
onegentleguy: Like I mentioned in a previous posting.... Access bank shareholders will pay for the acquisition. The lure of biggest bank by customers base in Africa is intoxicating Wigwe. We are talking of toxic debts, debt to asset ratio that is not sustainable for diamond bank. I expect access bank to negotiate better for their shareholders, Now Wigwe is floating $200million right issues. Take it or leave it. This is one of the greediness that killed sky bank when Ayeni et al bought a grossly indebted mainstreet bank in a move to wade off competitors. The oxymoron in this move is the toxic Liability of diamond bank. Once this right issue is approved there will be mass dumping of access bank shares by minority shareholders. The dumping will continue after the final allocation of access bank shares to diamond bank benefitiaries. In my forecast, I forsee access bank trading at sub N5.00 by mid 2019. This is just my opinion based on state of the Nigeria investment environment, past experience... Not an advise in any way. I hold 15000 units of access bank 2 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 6:28pm On Dec 18, 2018 |
If Access is not very careful, one day, it will beg GTB to come and buy it. But GTB will refuse. Pride of position was the key bias that notoriously impregnated this deal that has started birthing financially epileptic children. 1 Like |
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