₦airaland Forum

50 kobo.

leo1234:
Agbalowomeri, what's the fair price of ellahlakes?

FIRSTHOLDCO seems to have shaken off all the bad vibes of yesterday.

I agree with your analysis. Infact my own estimate, if I am not wrong, shows that the RI will raise N2.4b. This will clear their -ve retained earnings of just under N900m and address other issues. The huge N6.75 discount in the RI price is in effect a dividend payment to existing shareholders, which they cannot give directly given the -ve retained earnings situation.

Note that my views are just possible scenarios.

yMcy56:
This your ChatGPT na wa o
Does raising a RI indicates distress every time or expansion/increasing working capital?
GPT just gave a general scenario of likely events that surrounds raising funds but not peculiar to a company NEIMETH in this case.

To look at it from a realistic view now:
* RI is 1 new for every existing 7
* OS is 4.2b
* RI: 610m
- This doesn't signify distress but the need to fund a project or clean the balance sheet...... especially looking at the +ve turnaround in Q4 2025 and the boost going on in Pharma sector.
- The total RI units doesn't signify distress (if not, it would have been in billions)
- The possibility that the RI already have standby shareholder(s) to pick it up if qualified investors didn't turn up or couldn't meet up payment on time

* Qualification Date wasn't long
- The letter was dated 2nd February and qualification Date was same second February, this suggests that substantial shareholders are already picking it up (a ready market)
- 1 new for 7 indicates a highly discounted price for shareholders......
- discounting 1 out of 7 gives us 6....
- 6 x N4 = N24..
- In the long run, all things being equal, the share price should rise above N20

* This is my layman's interpretation of it.......and I'm responding because I'd mentioned it yesterday here.....
Patience is required

It is on NGX website.

funkymedina2:
where did you get thi? can you share the link

Please why is NEIMETH giving a RI of 1 for 7 at N4.00 per share when it's SP on the floor today, the qualification date, is N10.75?

And I bought some shares today. Do I qualify?

If this is true then Ote$ is a believer of Ted Turner's philosophy that owning 10% of a really big company is better than owning 50% of a small company. Merging FIRSTHOLDCO and GTB will give birth to a behemoth of a bank.

faoogoke:
It seem Otedola is acquiring more FBN shares in anticipation of seeing through merger with GTB.

Still speculative though.

FIRSTHOLDCO will shoot up like a growth stock once the current management sort all the problems of the NPLs of the past. I quote the following from the Nairametrics report;

"The profit decline can primarily be attributed to impairment charges for losses, particularly loans and advances to customers, amounting to N710 billion."

We all know of at least 2 major battles in court the bank is fighting to recover money from debtors who are trying to run away with billions of dollars they took from the bank in its yahoo days. Many banks would have collapsed under the weight of such NPLs. Imagine if all such loans were recovered. I will be surprised if the SP of FIRSTHOLDCO dips much after tomorrow.

EDUECO:
Does that mean Geregu Bank (aka Last Bank) will not pay their usual 50/60 Kobo dividend?

First Bank has become the Last Bank!

On the contrary. I think he will now have the chance to mop even more shares from those who will be dumping the shares due to all the fear being generated from these results.

SonofElElyonRet:
Nairametrics - BREAKING! FirstHoldco full year unaudited results decline 71% to N229 billion
Otedola go still dump first bank shares as he did geregu, forte etc
Not financial advice

Thanks

yMcy56:
https://doclib.ngxgroup.com/Financial_NewsDocs/45902_FIRST_HOLDCO_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

MULTIVERSE
https://doclib.ngxgroup.com/Financial_NewsDocs/45909_MULTIVERSE_MINING_AND_EXPLORATION_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

UACN
https://doclib.ngxgroup.com/Financial_NewsDocs/45910_UAC__OF_NIGERIA_PLC.-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

MBENEFIT
https://doclib.ngxgroup.com/Financial_NewsDocs/45903_MUTUAL_BENEFITS_ASSURANCE_PLC.-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

Please anything on FIRSTHOLDCO? Some people must have seen the results going by the sharp loss today after a gain yesterday.

yMcy56:
I don dey search for am o
Na night Dem go release am......but we blv it will deliver 😁

I've wanted to ask after you self, that you're scarce somehow but market dey busy...

I got discouraged by the power sector stocks when Ote$ seemingly exited the sector totally in favour of the banking sector.

KarlTom:
Noticed TRANSPOWER wasn't on FO for a while today.

Could this be a reason?

https://punchng.com/fg-begins-n4tn-debt-settlement-captures-five-gencos/

Tinubu Stumbles, Falls During Reception Parade In Turkey, Helped Up By Multiple Men https://search.app/NMUBX

Should this worry the market?

UHOMREIT🤣

I wouldn't call some of the stocks you mentioned "fundamentally sound"

iskalamong:
For serious investment advice, I will recommend you speak to an investment advisor or the research analyst(s) of your brokers.

I believe they are in a better position to make recommendations than random individuals online.

That said, please note that investment in equities (shares or stocks) carries risk of capital loss.

Here are some fundamentally sound stocks on the Nigerian Exchange

Oil and Gas
1. Aradel
2. Seplat
3. Oando

Banks
4. ACCESS Bank (Accesscorp)
5. Zenith-bank
6. GTCO

Telecommunications
7. MTN
8. AIRTEL

IT/software
9. CWG

Conglomerates
10. Transcorp

Consumer Goods
11. BUA Foods
12. NASCON

Industrial Goods
13. Dangote Cement
14. Lafarge Cement (Wapco)

Oil Palm Sector
15. Presco
16. Okomu oil

Health Care
17. May and Baker
18. Fidson

Others
19. TIP (The Initiates PLC)
20. Nahco
21. Tantalizers
22. Ikeja hotel
23. Julius Berger (Jberger)
24. Sahco
25. NGX Group

Kindly note that this is not an investment advice.

Cheers bro

Iskalamong

.

.

While our attention is taken away by ZICHIS UHOREIT is quietly doing same wonders.

https://www.youtube.com/watch?v=o4H6WiU95Vw?si=KWLu8Pv6GuBnpHoN

Beware of monkey hunters.

jelmusboy:
I want to follow this thread judiciously this year. I'm investing a lot into Nigeria Stock Exchange aggressively

Problem is some of the bank subsidiaries have the worst customer service. But maybe if you have N1b they will treat you differently.

mikeapollo:
The former CEO was probably keeping his portfolio from the prying eyes of management and staff of ETI and the subsidiary stockbroking firm.

I think what you did by moving your portfolio to bank subsidiaries is a good idea.

Abeg I want to one day be in the league of those who sell N1b and above worth of shares. How does one pursue brokers to get the proceeds of the sale back if they intend to steal the money?

ppogba:
People get wetin pas liver for dis country Sha.

You sell person shares worth N1.3b, pay am N300m and diverted the remaining amount.

Oga Arnold, with your experience as a MD of various banks including UBA and ETI, I am too small to blame you o but Sha, you should have known that when you give people things to sell in Nigeria, the responsibility is yours to pursue Dem like dog wey dey pursue bone. Or else.....

Well, wetin my small pikin know, maybe guy man wants to take his own share of booty. And I know there were booties. Or perhaps,may be there is more to what is in the public domain.

Nigerians with their monkey-see-monkey-do business strategy. Many think if an Alhaji from the bush of the North can build a refinery they also can. They don't know the hell he went through for 10 years to do it.

faoogoke:
You dey mind them.

50 Billion dollars like say na 50 Billion naira.

Na so to raise dollars easy. 5O Billion dollars?

Indeed the ASI has been practical sideways in the last 4 sessions. But it is still above the 8-day EMA. Start worrying if it dips below that. The banking sector is the one dragging while most of the action is in small penny stocks. We need something to counter the damping effect of the CGT.

awesomeJ:
Looking more like sideways trading to me.

180k is apparently no longer feasible this month

Maybe 172k at best.

We should stop telling newbies to read from pg 1😃

UchihaRhaegar:
Wow! 10,000 pages

You forgot TRANSPOWER

essentialone:
Before the coming of Zichis Plc, let us list some stocks that lost steam and gas since after they were recently listed in the Nigerian stock market. Cases of Much Ado About Nothing.

1. Aradel
2. Geregu
3. Haldane McCall
4. Legend Internet
5. VFD Group


Will Zichis Plc likely be their Number 6?

I wish they abolish tax on interest earned on savings account. Most of the low earners that are exempt from paying income tax get paid through savings account. The interest rates are so small compared to inflation, and they still lose a lot of their income through other taxes and bank charges.

emmanuelewumi:
You earned interest but back charges will be more than the interest because of excess withdrawal

Patiently waiting. Looks like someone wants to keep it below 70.

presiade:
Given the current market situation, ZENITH should be trading in the range N74.9 to N78.9. The market is probably waiting for the Board Meeting before price correction.

No let your babes hear you talk like this ooo. 😃

Agbalowomeri:
Oh old age don dey worry me

I think they are in effect suspending the law but using the pretext of lack of implementation guidelines.

mikeapollo:
Maybe the govt has realized they need to fix some things before they go ahead. The controversies seem much.

“The new tax laws exempt someone who sells up to 150 million Naira a year. Why are people selling 1 million Naira in panic? The danger of misinformation. That fake news, because it’s fake, it’s not supported by data, led to real losses for people, including some people whose pensions are with PFAs, lost money,” he said.

The above comment by Taiwo Oyedele shows he does not understand how the market works. He does not know that it is the big spenders (buyers/sellers) that provide the liquidity that anchors price movement, gains, ''value'', confidence etc. in the market, which then attracts smaller investments by other investors.
Without the big time institutional and international investors, the market would tank and there would be little or nothing to attract the N1m investors.
He is busy pursuing and pushing policy decisions that would affect the market but does not understand how the market reacts or relates to these decisions.

What are the implications of this? I thought Oyedele said that even the President can't suspend implemention of the law.

mikeapollo:
https://dailytrust.com/fg-pauses-on-tax-laws-guidelines-cites-uncertainty/?noamp=available

FG Pauses On Tax Laws Guidelines, Cites Uncertainty

Moniepoint, other Nigerian banks to charge 7.5% VAT on transfers, USSD transactions

https://dailypost.ng/2026/01/14/moniepoint-other-nigerian-banks-to-charge-7-5-vat-on-transfers-ussd-transactions/

This thing gets as e bi oo. Suppose I buy something from a seller who includes 7.5% Vat. If I transfer the payment I will then get charged 7.5% Vat again. I am effectively paying 15% Vat on the transaction. I think people will have to start carrying cash again.

I think if the CBN will put the forbearance issue aside banks like Zenith that paid disappointing interim dividend should pay good final dividend. I think FBN will also do better since Ote$ did address the poor dividend issue during the AGM. Time will tell.

Agbalowomeri:
You no talk 1B sef
Na so most bidders go queue up at the upper bound price unlike the less liquid stocks. People will only buy now for dividend.
What do you think they will pay as final dividend? I think most will just repeat the same thing they paid for last year

Another thing for me with the banks is liquidity. I could sell or buy N50m worth of shares in 2 minutes.

nosa2:
Hehe. If it is obvious then its probably not as juicy. Shifted from GTCO to Zenith and Ecobank. Got out of GTCO at about 70+ sha and shifted focus to Zenith. The disparity in price for the two banks is illogical. Either GTCO is over-priced or Zenith is under-priced.

I expect GTCO to hover while Zenith catches up. We should eventually see Zenith trade at about N5 below GTCO

Obviously my opinion changes once full year and or Q1 results come out

I recall when he was pushing GTCO and many were not interested. He must have cashed out big when it hit N100.

Agbalowomeri:
Oga Nosa you really rate these banks o