₦airaland Forum

hardMoney:
Spring Mortgage PP on began November 5th and ended December 17th, 2007. Form the news article in Business week, the shares are about to be listed with SEC.

Which is exactly what i said

hardMoney:
I would think it was just additional.  This was the message:
JAPAUL OIL & MARITIME SERVICES PLC: PROPOSED PLACING OF 2,657,835,300 ORDINARY SHARES OF 50 KOBO AT N3.95 PER SHARE:
CONSENT LETTER THAT JAPAUL OIL & MARITIME SERVICES PLC SHOULD RETAIN EXCESS APPLICATION MONIES AS DEPOSIT FOR SHARES
1, hereby consent that Japaul Oil & Maritime Services Plc should retain my excess application monies in respect of the just concluded Offer for Subscription as deposit for shares in view of the proposed placing of 2,657,835,300 Ordinary shares of 50kobo each at N3.95 kobo per share.

The only good thing about the PP to list the additional 2.7B shares is that you are getting a big 'discount' to the current share price of  about ~N11 so hopefully if they release FY anytime from now_{or have they released their results?} and its looks good the share price will go up-north even from where it is now but by the time those who bought the PO start verifying their ' sabuke' you can expect a down-side.

If the additional oversubscription from the PP is listed before April/May when Q1 for '08 results are expected you  get your 'pali' verified before then you can still gatecrash the party but after that i think it will be difficult to justify bonuses for the bloated amount of shares that will be listed then.

Like windywendy said that will be like turkeys voting for christmas

easimoni:
@ lawalidowu

AIICO
Law Union and Rock
Crusader (assuming no shares to be listed from numerous mergers)
Int Energy Ins
Standard Alliance

All depends on the offers to come; how succesful they are and what projections will be made. I've washed my hands of the Ins sector. Good luck.

Definitely UNIC must be in that list! although it might have become expensive in terms of its PE ratio

easimoni:
Omoba, thanks for the Wema update. I need am!

As a defensive measure against Windywendy's hostile bid

pumping777:
I have a forward PE of 16.7 for Redstar express. I believe there are good prospects medium to long term prospect for this stock. Being low cap with good fundamentals is one good point.

When Wanaj0 was calling First Bank long haul I really did not understand. Now I think I do. I don't expect a major rally till March next year   Of course I' not talking of 20% movement. This is still possible this year but at most I won't expct more than 40% at any point this year compared to today's price. I hope I'm wrong sha

I expect the real action to begin in March next year when the full year result will be out. I think it will be worth waiting for. Abi First Bank full year will be December na?

As good as Redstar express looks its very illiquid and a massive opportunity to influence the share price. Anybody tried getting in on the action? I have been forever on this one but no show! Check out the number of deals since it listed Nov last year. Just a few prviledged recycling the shares between themselves i suspect those who bought the PP in readiness for TS. So i dont bother with such stocks anymore

The problem for FBN is that if they declare FY results in March and if the uniform reporting period is  now enforced the implication being that they would only be reporting  8 months of trading activities for FY in December that would put FBN at a 'disadvantage' when compared to its peers that would be reporting trading activities for 12 or 15 months in December '08.

As we all know too well sentiments and perception now play a very big role in determining the direction a share price will go on the NSE! So not so good news for FBN on the long run

richieade:
My bad with the name mixup, I was told spring mortgage but I think they mean sprigbank mortgage. The guy offering it specifically said PP and will be listed soon!!!

Now I'M INTERESTED PLS HOLLA!

Anything to do with Mortgage is HOT NOW. A lot of these insurance companies have been building up stakes in these mortgage companies steadily. There is a synergy between mortgages and life insurance business as you know the insurance companies are now required to split their life and insurance businesses with capitalization requirements. Another mortgage that is being touted to be listed on the NSE is Abbey Mortgage and guess what Mutual Benefits have about 20% stake in this company.

The mortgage business is like the insurance sector and they are both going to do very very well on the NSE this year!

windywendy:
My opinion though is that Dunlop WILL power through that so-called N5 resistance point. Have you been watching the trend on this stock? Absolute fantastic for CICO.

My broker was telling me that before he could finish completing my order last Friday, some greedy Greg set of moneybags came and placed some serious demand on the floor and sent the price up to the max. Anyway, I was able to get a sizable chunk   . I don't see that demand being satisfied fully before the week runs out. So watch that stock as it powers through the N5 point (my opinion though)  

Yeah you again? Na wa o.

I remember saying something about this company last year it is a classic example of a company in 'turn-around' and set for growth. They have have just spent N5B or is it N8B? to complete their radial tyre plant_{whatever that means} and they completed  PO  in Jan '07 where they raised N5.5B infact the offer was oversunscribed.  The bulk of the receipts went on this project and repaying a very large chunk of the debts.They had a lot of problems with remittance of the PO funds but i think they finally got it now and they  acquired Pamol in calabar the biggest rubber plantation in Nigeria so no issues with sourcing raw materials so i believe its set for big big things

Up till now they have been making huge losses over the years so i suppose they are due a turn-around sooner or later but it seems to have caught me _pants trousers down

But as usual the wind don blow comot all the available shares for ground

richieade:
@roughcut

I just got offered a possibility to take part in Sterling mortgage PP and I have tried in vain to google for some info about the company and I remember reading your post about the company(if am not mistaken ). My question is do u have any new info on the company before I commit money to them.

Minimum is 1 million units @ 1.20

If anybody else has any info on the company please share o.


As for the superbowl I knew Gaints will win b'cus Defense always beat Offence (good for cheating Belichick)

I think you are making reference to a subsidiary floated by Sterling bank from the name i may be wrong though but i dont have  any info on this if this is the one i think you are referring to.

The reference i made in my post regards  SpringbankMortgage( a subsidiary of Spring bank) which is due to float on the NSE imminently so that would suggest that they have probably concluded some form of PP(dont have the info regarding PP) and are now ready  to list on the NSE that is the info i have. I think they are planning to list before end of February.

Pls note that the parent company Springbank is on full suspension as opposed to TS for finacial irregularities/improprietary so please note there is a distinction between the two

[quote author=Mr. Risky link=topic=31554.msg1917685#msg1917685 date=1202119676]Yes, to add my own, Pumping777, thanks very much for your generous contributions to this thread.  Everyone has benefitted from your insightful comments and down to earth analysis of stocks and capital market investment.  You are acknowledged as the 2007 MOST GENEROUS GURU.  If you continue in this pace you might end up winning the 2008 slot.

Wanajo passes as the MOST FATHERLY COUNSELLOR GURU of this thread.  As for Queen Mrs. WindyWendy, she is easily the MOST AUTHORITATIVE INFORMATION SOURCE, yes the lady who is soooooooooooooooooo generous with useful CORPORATE NEWS BEHIND THE NEWS.  You are all recognized.

Aktopgun is equally recognized as the BEST STOCK SURGEON there is on this thread, he has his own way of dissecting each stock he chooses to comment on.  ROUGHCUT may not be as rouch as the name sounds, even though constantly on the air, he finds time to disembark and tell us something newer than what we may already have known.  For that, ROUGHCUT will pass as the MOST MOBILE STOCK ANALYST OF ALL TIME.

Other awards to be given by my co-presenters.  Thank you.[/quote]Ha ha ha! as it happens just landed back at base. Well well what can i say? Honour will also come your way in Jesus name.I think everybody on this thread will definitely get an award! The thread has been a serious blessing to me in more ways than one so kudos to all of una.

The _super crawling eagles have just managed to turn my monday'feelgood' hypothesis into a  pile of  cowpat i hope the NSE does not react accordingly _{i havent checked the closing prices sha}. To imagine that they managed to lose with the extra man numerical advantage is  more galling. What else do they want the referee to do?

windywendy:
Yes of course!! Who's your broker

Naa not a good deal dey go airport now yarn later

windywendy:
Yes of course!! Who's your broker

UBAS. r u serious?

windywendy:
Hmmmm, you say "katakata", I say "opportunity!!!"   . Doesn't this story sound very similar to the Afribank one? For all those wanting to sell their Wema, i'm buying at N5 a piece _{up from my previous N2 bid}  

You just got yourself a deal! shall we shake hands on it?

Costain is still playing a blinder! That is a home run slam-dunk

bigjay01:
@

AIICO off TS. closed at 3.60 2day

I wan show my hand o!

May be one of the  dark horses for '08

Projected PAT N3.32bn, N7.27 bn and N9.10bn in 2008, 2009 and 2010 respectively. Worth mulling over i would say. On my watchlist till after the stock has come off TS. Anybody with the financials please holla! I'm talking about NSL

http://www.proshareng.com/myproshare/portal_news.php?id=3544

Naijadr:
@ RoughtCut, na wa this Costain plane na fire

And the funny thing is peeps are still buying. 10 deals yesterday and 11 today and its being on very strong bid since it came out of TS so this jet get very long MOT at least until FY in March and before the IPO'ers start collecting their 'sabuke' or is it 'pali' ?

windywendy:
Ah! In that case I CARE!!! and very very much too

I DON DEY FAST AND PRAY FOR NAIJA O! HOPE SAY THIS ONE NO GO TURN TO HUNGER-STRIKE AT THE END OF THE DAY

windywendy:
And by "passengers", you actually mean "casualties"?? _{because some of my football crazy buddies have been predicting that naija is trashing Ghana in their next game} But then, who cares . . .

If that happens that will be good news on the floor of NSE for the whole of next week

Naijadr:
@ RoughtCut, na wa this Costain plane na fire

Na helele! The jet propulsion engine is turbo-charged

windywendy:
@all, just had a chat with my broker and here's the low down (abi na down low? ):

STACO and Guinea Insurance have joined the train of coys likely coming to raise funds
FAN still on high bid. He was like "doesn't make sense", I was like
Cornerstone on crazy crazy bid -- over 100m units outstanding at the end of trading today . . .
Strong rumors of bonus issue with AG Leventis, but he's not too sure how true

The day NSE begins to make sense then i suppose we will need to find another stock exchange to start dealing again!

[list]
[li]ABC transport gaining altitude for no apparent reason[/li]
[li]Okitipupa Oil palm mills now making the rounds[/li]
[li]FAN_{wetin be dat again sef?} on high bid[/li]
[/list]

Need i go on? None of these makes sense

easimoni:
FCMB never begin. THere are 4.5B shares waiting to be added from the PO (assuming no oversubscription)

This is no longer an assumption its a fact so add another 1.125B shares to that figure which is the max 25% over-subscription they are allowed to keep

http://www.thisdayonline.com/nview.php?id=94398

yodiyokun:
I never buy GTB oooo can you believe it - I changed my mind at the last minute.

BUt lets wait and see

FY is February and they may release the results in March/April and if peeps are thinking what i'm thinking i'm sure they will be stocking up on GTB now!

E be like say GTB no dey within striking distance again!

FO2+Yodiyokun i no say una don dey do target practise for this one he be like your practise don pay off now. You don score direct hit and a lot of collateral damage

yodiyokun:
OPARI!!

Seriously , Seriously, Seriously!!! _{as my mcdreamy girls at grey's will say}

I honestly did not know you could construct perfect "mama charley" english. lol.  

He no matter if  man see snake and woman come kill am as long as snake no escape. So wetin i dey talk my people? he no matter if you speak broken/pidgin or u fit add patoi on top or Queen's English even if you like speak with a posh English accent as long as you pass your message across that is the 'koko'

dollyp1cute:
Thanks Roughcut

@Bigjay, has FBN listed the additional shares?

@All
Anyone watching ABC been gaining consistent for past 3 days, any news?

Yep by my spreadsheet they have  ~19.8B shares outstanding_{easimoni no be so?}

dollyp1cute:
Anyone seen today' result?

Yeah onhttp://www.trw-stockbrokers.com/services.aspx if you believe what they publish that is!

Pennywise:
Inter year end is Feb. Good time to GIGO. Doubt if they will withhold result till December 08. Always takes time for coys to adjust to new regulations.

This problem with this arrangement is that Inter will be one of those that will be 'disavantaged' by this uniform reporting business. After Feb 08 which is  Intercontinental FY and they are now forced to report FY again in Dec'08 they will only be reporting 10 months in effect for full-year which will not look good in comparison with other banks that have their  FY  before the end of '07 which means they will be reporting for >12 months by Dec'08

Not sure how this requirement changes anything though. Why change a winning formula? We just like to flex muscle for naija Na wa o!

rasputinn:
@ Roughcut
Yep it appears so even if some folks @ Wema still want us to believe the contrary.So even if one cannot ZIZO,@ least one can ZO when the TS is lifted,and ZI when it's bottomed out.

Ha! Ha Ha! once i ZO and i will not be looking for when it bottoms out o!It will take divine intervention to ZI again

WEMA used to be one of the cheapest banking stocks in terms of price-earnings multiples but with all these can of worms and accusations of 'skeletons' in cupboards yet to be unmasked dont think that is the case anymore. The brand is damaged

Too much contraband on board if you ask me! Only God knows what they are going to uncover next and it looks like its going to be a while before TS is lifted

Apparently WEMA was planning to approach the market  to issue their  shares @N13 for the PO and @N11 for the rights   that would have been good to RO-RO and ZIZO for those still stuck with WEMA excess luggage including yours truly

Looks like that's been scuppered now!

http://www.thisdayonline.com/nview.php?id=101772

cheexy:
@Frankiriri
I am very sorry for your loss. God knows best


You guys are funny o CICO, GIGO, RIRO very soon i will hear ZIZO(zoom in, zoom out)

Nice one to add to n'land vocabulary!

Hopefully if Nigeria beats Ghana on Sunday i predict_{with the aid of BIGBOY LARRY's crystal ball} there should be a max share price appreciation across the board next monday and a few days after this is what i call 'feelgood' factor!

Anybody watching Costain at the minute?

eniyanman:
@RoughCut,
I don't have a business hence my tax affairs are fairly simple (self-assessment).

Right
At least you know what to do!