dumping would soon start in MTNN

DAILY STOCK MARKET GUIDE FOR 22 MAY 2019

MSCI bought small quantity of Stanbic. MTN attracted much money into the market, with time the money will flow to other equities to enjoy the bull party.

MPC maintained the old rates. We will see more players now entering the market with full force.

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). This document remains the personal property of Target technical analysis (https://twitter.com/AnalysisTarget) and is not to be distributed without our authorization.

aremso:
dumping would soon start in MTNN

Help my on sir

garfield1:

Help my on sir

MTNN people will help you sir

aremso:


MTNN people will help you sir

How sir

Deadlytruth:

Breaking
SEC Probes MTN Listing on Stock Exchange




•Shareholders rake in N6.1bn in one day as induced scarcity continues

Obinna Chima and Goddy Egene

The Securities and Exchange Commission (SEC) is investigating the process that led to the listing of MTN Nigeria on the Nigerian Stock Exchange (NSE) last Thursday, THISDAY learnt yesterday.
A source said the application of the telecom firm was initially turned down by the NSE Council before it was later reconsidered, without the authorisation of SEC.


The disclosure came on the heels of an earlier THISDAY report that investors on the NSE and stakeholders waiting to purchase the shares of MTN Nigeria Communications Plc, through an initial public offering (IPO), might do so at a very high premium whenever the telco decides to float the IPO.

This was because of the free float accommodation and some other waivers MTN Nigeria was granted by the capital market regulators to pave the way for its listing last Thursday.
The source spoke amid allegations of unapproved waivers that the NSE granted MTN Nigeria to enable it to be listed on the stock exchange.

The source said: “The application was turned down when MTN brought it to the council due to grey areas and requests for certain waivers made by the company.”
According to the source, the investigation will cover all aspects of the listing, the share crossing, the activities of the preference shares, all the transactions on MTN Nigeria shares so far and the entire listing to see if it is in compliance with the listing rules.

“I can assure you that SEC will conclude this investigation as soon as possible.”
Meanwhile, the shares of MTN continued on the upswing, chalking up 9.9 per cent or N10.85 to close at N119.75. This showed that the stock has gained 33 per cent in three days of its listing on the NSE.

Investors yesterday traded 51.406 million shares of the stock valued at N6.155 billion in 61 deals.
THISDAY gathered that there was induced scarcity of the listed MTN shares in order to drive up the value.
Analysts had told THISDAY that the intention of the pent-up demand on MTN Nigeria’s shares was to drive the price of the stock very high before any share offering through an Initial Public Offering (IPO).

In addition, an analyst had said the IPO might take a longer time to come, as the MTN was said to be hiding under the alleged $2 billion tax liabilities the Office of the Attorney General (AGF) imposed on it, instead of the Federal Inland Revenue Service( FIRS), to delay the public share offering.

But a source from one of the leading stockbroking firms, who also pleaded to remain anonymous, defended MTN Nigeria, saying its Listing of Introduction on the NSE was similar to what Notore did.
“Notore did a listing by introduction similar to MTN Nigeria. The special waiver for MTN Nigeria went through proper regulatory practice, which was approved by the SEC and the NSE.

“For Listing by Introduction, you are not obliged to make shares available to the market to buy at all. For Listing by Introduction, shareholders that were existing prior to the company being listed have the opportunity to trade their share.
“So, if you are not a shareholder of MTN Nigeria prior to the listing, you will not be able to sell any share. You only buy from willing sellers in the market,” the source added.

On the NSE Listing Rule 2.2.4b, which states that, ”the value of its free float shares is equal to or above N40 billion on the date the exchange receives its application to list,” the source said: “the tradable value on the first day doesn’t have to be N40 billion. Like I mentioned to you, Notore listed and did not trade N40 billion on the first day. So, it is not compulsory that you have to trade N40 billion.

“On the day Notore listed, only one million shares were traded on that day at N62.50 per share.”
She argued that there was no basis to compare MTN Nigeria to Dangote Cement, saying what the cement company did was an offer for sale, whereby on the listing day, the majority shareholder, which was Dangote Industries Limited, offered some of its shares to willing investors to buy.


https://www.google.com/amp/s/www.thisdaylive.com/index.php/2019/05/21/sec-probes-mtn-listing-on-stock-exchange/%3famp

https://punchng.com/sec-denies-probing-mtns-listing-nse-defends-process/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2318254+%3D%3E+MORNING+NEWS+HEADLINES+&utm_content=cffc573335d3f270ecdba1db7d91d4993d30fb6d

Mcy56:

@jideflash, phemmie06 and princkez, na you be Nsempa rep, oya come and carry your kwesion.
Did you ask the kwesion? What was their explanation?

The company secretary was the one telling the chairman who the microphone should be given to

aremso:
dumping would soon start in MTNN

It has started bro.

There is nothing to ask about their share price, as this is determined by market forces. But I agree when they listed initially at N9, it was overpriced as their dividend was like 15kobo or so. Then shortly after listing, crude oil price crashed, causing the company to lose operational hours, as the oil companies cut down their operations significantly. Although caverton payment are in long term contracts, they also charge the companies per trip/hours.

Now with oil price crash, Nigeria slipped into recession,
The Naira was also devalued. For a company whose major costs (pilot fees, maintenance) are in dollars, they lost over 1.5billion naira to FX that year alone.

Let's remember the share price fell to 90k, but the company kept investing, reduced operating expense ( even cut me off website maintenance fee ). They will soon launch the MRO, which they already have waiting customers and the world class pilot training centre. This will generate large income and reduced dependence on the oil and gas servicing contracts.

With the current EPS which is sure to grow higher. Caverton is the cheapest value stock in the market. So instead of complaining about the IPO price (which has passed), better start buying the stock now, because very soon, u no go see am again to buy.

Make una no forget, the chairman owns over 85% of the shareholding. So shares available to buy is limited.

Peace Out.

Mcy56:

@jideflash, phemmie06 and princkez, na you be Nsempa rep, oya come and carry your kwesion.
Did you ask the kwesion? What was their explanation?

bIKO WHAT IS PUSHING DANGCEM UP WHO KNOW

what's happening to wapco ?#9:20K ! Na wa ooo

House, please can I submit my dividend mandate forms through my broker, Morgan Capital?

oyamhe:
bIKO WHAT IS PUSHING DANGCEM UP WHO KNOW

Leadership tussle.........They need to mentain market leadeing by capitalization.

Mtn must work extra hard to take over.....

oyamhe:
bIKO WHAT IS PUSHING DANGCEM UP WHO KNOW

Qualification of dividend of 16 naira is around the corner. 3/6/2019

locodemy:


Leadership tussle.........They need to mentain market leadeing by capitalization.

Mtn must work extra hard to take over.....

Another good perspective

Tolktob:
what's happening to wapco ?#9:20K ! Na wa ooo

sir mendees,your prayer is gradually being answered .

@jideflash and @phemmie06, thanks for the update and info.
@Deepsuk dey don answer your kwesion oo.
The aircraft jam bad weather at different times which affected its voyage enroute the 'promised' land.

locodemy:
Leadership tussle.........They need to mentain market leadeing by capitalization.
Mtn must work extra hard to take over.....

You know I was just thinking that if other CEOs should see what's happening in MTN, especially those with owners owing higher shareholding %, it could give them 'bad idea' of how to strategize to better manipulate prices to their favour........just wondering what impact this anomaly could have in near future if not addressed quickly.
People now dumping other stocks just to be a partaker of the mtn goodies.

Tolktob:


sir mendees,your prayer is gradually being answered .

Why would I go after a prostitute when virgins are available? Will I see Zenith at N16 and still look towards WAPCO (unless they hit N4 shaa)?

Sincerely, WAPCO should be the worst performing stock till date. From N42 down to N9.20 within 365 days.

No Plan to Remove Paul Usoro from Board—Access Bank
https://businesspost.ng/2019/05/22/no-plan-to-remove-paul-usoro-from-board-access-bank/

CBN to Control Banks’ Investment in Treasury Bills, Bonds
https://businesspost.ng/2019/05/22/cbn-to-control-banks-investment-in-treasury-bills-bonds/

Tolktob:
what's happening to wapco ?#9:20K ! Na wa ooo

Guess its same thing that's affecting others....only that one would feel it harder than another.

Mcy56:

Guess its same thing that's affecting others....only that one would feel it harder than another.

How can you compare what's affecting WAPCO to that of Zenith? WAPCO that's yet to release their loss after tax results for FY 2018 and Q1 2019.

mendes911:
How can you compare what's affecting WAPCO to that of Zenith? WAPCO that's yet to release their loss after tax results for FY 2018 and Q1 2019.

Na today that one dey happen?
Wapco is not the only coy that's yet to release YE result na.

Thisday Newspaper: EFCC called upon to investigate MTN listing, saying that its gaining 10% since listing was/is not brought about by forces of demand and supply.

Extract: "The NSE is clearly not seeing the damage being done to the market or pretends not to be seeing it and the reasons are not far fetched. The NSE is smiling to the banks receiving mouth-watering commissions from these ‘cross deals'."

https://www.thisdaylive.com/index.php/2019/05/22/mtn-and-20-billion-shares/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2318254+%3D%3E+MORNING+NEWS+HEADLINES+&utm_content=91703c13d2a63a3ec463db5ebbebfe405601c186

Mcy56:
Thisday Newspaper: EFCC called upon to investigate MTN listing, saying that its gaining 10% since listing is not brought about by forces of demand and supply.

https://www.thisdaylive.com/index.php/2019/05/22/mtn-and-20-billion-shares/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2318254+%3D%3E+MORNING+NEWS+HEADLINES+&utm_content=91703c13d2a63a3ec463db5ebbebfe405601c186

so na forces of ogbanje or juju?

Any member here who has bought MTNN shares should let us know pls. Monitoring things to report to appropriate quarters.

aremso:
so na forces of ogbanje or juju?

International forces.

OFFERS COMING TO PALESTINE, FIRST IT WAS SAUDI OFFERING 10 BLLION DOLLARS,
NOW, IT'S THE U.S.A. CAN PALESTINE REJECT THESE OFFERS? ONLY TIME WILL TELL.
ALL THESE ARE TO ENABLE PEACE REIGN BETWEEN ISRAEL AND PALESTINE. GUESS
WHAT HAPPENS AFTER ... THE BUILDING OF THE ANTICHRIST TEMPLE OF COURSE.
WILL THE BRIDE OF CHRIST BE ON EARTH BY THEN?

Below is the news of latest offer from America.

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/22#78614396

Yayira:


Lol if you dey dump transcorp and transcorp still close at day high, that means you are not dumping.. tell us truly what you are doing.. because if your kind dump stock, na -10% for that stock..

You mean with the way dis stupid people dey dump zenith/uba ...na me go foolish go do -10% for transcrp ? i dan learn since.

The dumping is heavy. Companies with good fundamentals are worse hit. Just look at the rate at which Zenith and UBA are been beaten. The economic and political uncertainties are really affecting the market. FPIs have taken leave of the market. While oil market rises, the economy is not catching up. The recent GDP showed a decline! No one is incharge of the economy. There's confusion everywhere. The Minister of Finance does not inspire our foreign partners and investors. Talk of recession is picking steam. Insecurity everywhere. The country is in serious trouble. May Allah help all of us

Buhari Gives Agencies Two Weeks to Clear Apapa Gridlock
https://businesspost.ng/2019/05/22/buhari-gives-agencies-two-weeks-to-clear-apapa-gridlock/

jamace:
Any member here who has bought MTNN shares should let us know pls. Monitoring things to report to appropriate quarters.

At today's price dem no go tell you say dem don buy unless price hits 200 ,
meanwhile the trade today shows some retail traders would have gotten MTN. I would expect dumping sometime during the week if not today before market close.