₦airaland Forum

@AKT

Using NHS computer and time to surf Nairaland!!

Will report you to Trust Board!

Samstone4

@AKT

Regarding your comment on Wapco.
Why is it a good thing that the RSI is rising and is now over 70?
Thought a high RSI indicates overbought position and signals "Sell"?
We have argued this several times on this forum.
Please clarify.

Samstone4

@Krrush

That's interesting that the new Hillary campaign manager is a black woman.

Important gesture because if she wins the nomination she will need to motivate the African Americans to bother to vote in November, as they will be feeling very deflated after the strong showing of Obama. So it is not too early to start reminding them that before Obama she and her husband were always regarded as loyal advocates for the Blacks.

Samstone4

@Krussh

Don't think Washington and Nebraska are mainly Black states. I know they are not.
Washignton is the Washington with Seattle. Not Washington D.C., the nation's capital, which is mainly Black.

The Black population in Louisiana is huge but not sure it reaches 50%.

The main thing about Washington and Nebraska is they are caucuses. Obama has tended to do better in caucuses than in primaries. The voting is public in caucuses and secret in primaries. Primaries are therefore more representative of the voters true preferences and how they would vote come November.

Obama has been amazing but I still have my reservation about his prospects.

Samstone4

@AKT

That's a very optimistic, unlike psychiatrists, attitude.

Samstone4

@Emotimi, Gidij etc

As I said earlier, rather unfairly to Obama, I find it hard to trust him at the moment.
It would have been easier for me if he had completed a term in the senate before running.
If I, a Nigerian, feel this  way I wonder how White Americans will respond in the polling booths come November.

So, regardless of what the polls may be saying, I believe Hillary Clinton will be more likely to defeat McCain at the presidential election. The polls are exhibiting what they call the "Anderson effect", after a Black mayor of Los Angeles. All the polls had him way ahead of his White rivals for the California governorship until the one that matters, where he fell.

I don't believe the gender prejudice would be as difficult to overcome.
A combined Hillary-Obama ticket might have a good chance.

Did you notice that Hillary won the state of Massachusetts? The 2 seating senators and governor from that state all endorsed Obama. Senator Kennedy has represented the state for more than 30 years! This is one of the most liberal states in America!

Back to NSE capitalist fun!!

Samstone4

@Tonyjon

Don't know what's going on with the Transcorp.

It's good to see it gaining maximum from start to close every day for about four days now. It closed on very heavy bid Friday.
Have not contacted my usual source. Don't want to bother him too much or else he'll start getting cagey with the information.
Have heard that the results for Transcorp Hilton have been prepared and presumably must be very good.
However, I feel there must be something to do with Nitel to have a sustained upwards trajectory. If it continues for the next three market days I will know a favourable solution to the Nitel problem has been found or Yaradua has been confirmed as President. It may then become difficult to get the shares in any significant quantity.

I presume you have a holding in it? If not it may be worthwhile to make an initial investment on Monday and wait and see for about a week then jump in before it flies away, if it is still rising fast by then.

Happy hunting.

Samstone4

@AKT

Do you find time to read any Psychiatry and see patients etc, as well as take care of the family?
With your knowledge of technical analysis.

Must admit in all my years of investing in the stock market I have always discounted technical analysis and been pure fundamentalist. This worked very well in the past but the NSE has moved into a different phase now - with a lot of money to be made from short term trading.

@ Easi, Yodi, Pump etc

Digression - Can Obama win?

I was surprised at how well he did on super Tuesday.

Does anybody have the breakdown of which states had caucuses and which ran primaries. Trying to analyse if we can discount the states with large black populations and few Latinos and those states that had caucuses. Caucuses, like Iowa, are public votes and I feel some of the White folks may vote for Obama in public when the argument is lost but will not do so in the privacy of the polling booths.

Another point to consider. How many of the Obama states allow independents to vote? There is still the theory that many Republicans will vote for him in the hope that he will be easier for John McCain although I understand now that the polls think he and not Hillary can beat McCain.

Getting very interesting.
Samstone4

@Crazy T, Nairalanders

Mr Transcorp here.

Just after I offloaded a few 100kgs of transcorp it seems to be taxiing for takeoff - to use the prevailing flight terms!

Luckily I did not dump the majority of my stock, as a friend advised.

Not another dead cat's bounce? Hope not but I have no information about what is driving it now.

If it does another 5% tomorrow, with good volume, may buy more.

Keep hunting but no hunting accidents, please - your children have not finished their lessons.

Samstone4

@Eniyanman

I think it is possible to have a par value of 1N, 2N, 25K etc.

I don't think there is any mandatory amount although using 50k makes it easier to compare to other stocks.

Can't remember any stock on NSE that isn't 50k although the recent private placement in Orient Petroleum Refinery was at par of 2N.

Samstone4

@Nateevs

When a par of 1.0N is listed it is usually split into 50K units but very often the price is maintained meaning that the real price has doubled.

For example, Transcorp was sold at private placement price of 3.0N for 1.0N share. It was listed on NSE at 3.0N for 50K shares. This meant that those who bought  1million shares at cost of 3 million Naira pp now had 2 million shares worth 6 million Naira.

By the way, this stock split is not unique to Transcorp - as some of its detractors will have you believe.

@ Nairalanders
Though my brokers have been silent on the Japaul PP,  a normally reliable source has supported the news. What is not clear is whether there is a universal deadline of this Friday for all.

Samstone4

@ Windy, Easi, Roughcut etc

Recall that the rights component was much lower than the public offer of Japaul?

The rumour about bonus may be true, as a means of maintaining the relative holdings of the original investors and yet absorb the huge oversubscription.

The PP may offer a way to accommodate the oil majors who are keen to own a piece of Japaul.


Samstone4

@Ololufemi

Tantalizer has already done the PP.
I believe it may have closed as it was rumoured that some moneybags bought very huge chunks of it and it closed prematurely.
Not certain so you should check further but make it snappy - as we say in the special forces.

Samstone4

@Piddo, Walcolm, Wanado

The point is how is possible that with 140% oversubscription of the rights issue one should be getting only 5% allotment.
This is highly unlikely and ought to be scrutinised.

Samstone4

@shigidi

I think the "Sarah Connors" posting is a joke about the Arnold Schwarzenegger "Terminator" films.

@Nairalanders

What exactly is the SEC rule for oversubscription?
Is it that companies can absorb 25% of oversubscription or can absorb 25% over what they came to the market to raise?
The latter makes more sense as it is predictable and can be planned for in the prospectus.

@Midas Touch

I had a few issues with FSDH but they have improved considerably in the last few months after they assigned me account officers. Previously was dealing with everybody and nobody.

Their website is very good for daily update of your portfolio and I give my orders now by emails and they do their best to execute. Must admit that they often buy at the higher end of the range and I usually don't get the lowdown on what's going on in the market.

I know my money will never disappear even though I'm based abroad.

@ Yodiyokun, Easi, Pumping, hispy etc

If Jessie Jackson was running for President I'll be 100% for him.
I am sceptical about Obama. It seems very unfair but I don't know if I can trust him.

There was a mixed race minister here in the UK.
When he was first elected to parliament he was making noises about "Today Westminster, Tomorrow Soweto" but then he started getting ambitious in government and as a minister I heard him say on television "I am a politician who happens to be Black and not a Black politician" unlike the late great Bernie Grant.
Bernie Grant would stand up for any Black man whether or not you were his constituent, not so for this minister.

I don't know which side Obama will be on if elected but somehow I find it hard to trust him.
It will be good to break that hoodoo of no Black President but we also hope it will be one with the attitude of Jackson. Not one who thinks it is a good idea to keep the White people satisfied with their objectivity by implying that all Nigerians are "scammers"  - like Oprah Winfrey and Colin Powell, when he was considering running for President.

In addition, I am convinced that a significant number of the votes for Obama has been by Republicans who want him to win the Democratic nomination, knowing McCain will defeat him in November.
The Clintons' hearts have always been in the right place when it comes to African-American issues, as Barrack Obama, Jessie Jackson etc have attested and will attest.

I expect Hillary to win very comfortably come super Tuesday especially after the South Carolina landslide for Obama.

Perhaps a Hillary Clinton-Barrack Obama ticket might have a chance?

Long story. If I make enough money on NSE this year I will go to "God's own country" change their constitution and become their first President with a Nigerian accent!

Samstone4

@BigJay01

Got a trade alert about 60 minutes ago - 5:12 UK time.

samstone4

@Easi, Windy

Proshare gives the shares outstanding for Lasaco as 14.1 billion.
What does this make the historical and prospective P/E ratios?

Samstone4

@Easi, Windy

Proshare gives the shares outstanding for Lasaco as 14.1 billion.
What does this make the historical and prospective P/E ratios?

Samstone4

@Frankiri

Please accept my condolences on the loss of your brother.
May his soul rest in peace.

The fear of armed robbers is a main reason why a lot of Nigerians in diaspora are reluctant to move back home.
We hope that the loot being recovered from our thieving rulers and civil servants will help regenerate our economic and moral entities and reduce the sense of desperation and greed that make people commit these heinous crimes.

Take heart.

Samstone4

@Wanajo, Windywendy & Nairlanders

A few months ago I was begging for information and opinions about Thomas Wyatt and was completely ignored.
I have just sold a sizeable chunk of my holding and did not even take up all of my rights!!
Any particular reason why it is hot play now?

Samstone4

@Netotse

You should have had text alert within hours of the purchase on Monday and should have been reflected in your CSCS account within 3 days.

My guess. Your broker did not buy the shares. Certainly not on Monday.

Samstone4

@AKT, Nairalanders

I am an old hand on LSE stocks, although mostly dealt with IPOs and Privatisations.
Must advise you to be very very cautious in going into the LSE, indeed any Western stock exchange. There are extremely limited opportunities for making a killing. All news about shares are usually uniformly known except for very closed knit inner circles of traders. The brokers are more professional but you will get advice only to buy stocks they are trying to dump.
These are generalisations but should serve as warning and guide.

Samstone4

@AKT

Don't think I agree with your calculation of dividend yield.
If UBA's dividend was 1.20N then the dividend yield would be 1.2/50x100 = 2.4%
Annualising it the way you did means that that the dividend for the year was 4.80N or will be, if you are projecting.
UBA does not pay quarterly dividends.

Samstone4

@ Lolly Lolly

Do a search on Nairaland for Japaul.
It will show you all the references to Japaul on the thread.

Goodluck.

Samstone4

@mishoo, rasputinn

I don't think buyers in the 1st bank PO qualify for the bonus issue.

@Nairalanders
What is source of information that the 1st Bank bonus issue has been credited to CSCS.
It hasn't been credited to mine yet.

Samstone4

@Nazzyon

What does "na sheru bawon" mean?

Samstone4

@AKT

You told me so.
I will likely buy more Big Treat when it does PO as a long term investment.
I am basically a long-termer and hope to start collecting dividends in solid stocks in a few years time when the NSE settles down.
With the occasional forays into active investing.

Samstone4

@AKT, All Nairalanders

Looks like my information was wrong. Big Treat will be coming to market soon according to this recent newspaper report:

"Big Treat plans IPO
By Taofik Salako
Big Treat Plc may soon float an initial public offering (IPO) to further expand ownership base of the confectionery company and provide new equity funds for its expansion programme.
Big Treat recently listed its shares by way of introduction on the Nigerian Stock Exchange (NSE). The entire paid up share capital of the company was admitted to the Daily Official List of the NSE at N2.85 per share. The listing followed the successful completion of the company's private placement, which was undertaken few months ago.
Demand for ordinary shares of Big Treat has been on the increase since listing, pushing the share price to N3.81 per share last Thursday.
Market sources said Big Treat might soon conclude arrangements for the IPO given the huge investors' interests in the company, its expansion programme and professional advice that favours equity funding.
Sterling Capital, which assisted Big Treat to streamline its operations, standardize its financial reporting system, restructure its capital base and secure all the necessary regulatory approvals that culminated in the listing of the company, was said to be guiding the company through the IPO process.
Mr Lance Musa Elakama, assistant director general, Nigerian Stock Exchange (NSE), confirmed the impending public offering by Big Treat assuring anxious market operators and investors that "the company is coming with public offer soon".
Pamela Wu, managing director and founder, Big Treat Plc, said that the company plans to expand its outlets to all the 36 states of the federation and in major cities in order to move quality food and drinks closer to the people.
She added that upon completion of the country-wide expansion programme, the company plans to expand to other West African countries especially Ghana where it had received strong expression of interest.
Big Treat recently commissioned its ultramodern baking factory at Ikosi, Ikeja, Lagos. The factory is equipped with state-of-the-art food processing equipment to ensure that its products meet the highest level of nutritional and health standards.
Wu said the bakery would soon be fully automated such that from mixing to packaging, no human hand will touch the bread to maintain highest level of health standards.
She said the company plans to replicate the factory in other major cities in Nigeria to enable it meet the fast growing demand for its products.
She assured investors that the directors and management of the company would work assiduously to continuously improve growth.
She said the listing reflected the company's confidence in the Nigerian economy noting that the company has reinvested earlier profits into the business to expand from a one-branch business to its current 21 branches.
She said that the company has achieved significant level of success since it was established 15 years ago and the listing was primarily to give opportunity to Nigerians to be co-owners of the business they have helped in building.
She said the company has contributed enormously to the Nigerian economy by maintaining almost 99 per cent local content in its recruitment policy as well as empowerment of indigenous entrepreneurs through franchising.
Mr, Biodun Dabiri, managing director, Sterling Capital, the issuing house and financial adviser to Big Treat, said Nigerian investors have already showed strong confidence in the board and management of Big Treat through its highly successful private placement.
He said that prospects of Big Treat and the clear vision of the founders gave Sterling Capital the impetus to guide the company through series of activities that eventually culminated in the listing of its shares.
Dabiri said the listing would address the problems of succession inherent in family businesses and provide opportunity for shareholders to enhance the value of their investment."

So prepare your cash folks!

Samstone4

@ Ty Ademolu

Looks like getting very difficult to get Chams.
I know many people with the problem of brokers not accepting applications.

I got my form from UBA Global Market but was told that they have been advised from the top not to take any more applications.
My brokers eventually submitted via Skye Bank. Doubt Skye still taking but may be worth a try.
Apparently the employees of Chams want to take up most of the shares, according to my UBA source. I am sceptical.

Don't panic, there are plenty more fishes in the ocean - as we used to say in boarding school, when the ladies were proving difficult.

@ NKC

The GTB stock is a disappointment. I was encouraged by one of their major shareholders in June to buy.
He seemed to know something. Even told me he would compensate me if it did not double in 3 months!
Would like to be able to claim from him but not worth holding my breath.

I still believe GTB is a steady good long term stock, like 1st Bank, but you may sell if there is anything likely to accelerate in the short term and you need the money for this.

I am holding on for now.

As for the 1st Bank CSCS e-credit, I was told sometime ago they will only be sending certificates, despite all the hassle about filling CSCS number on the form. I have written to 1st Registrars to confirm that the certificates are ready for collection.



@CrazyT

Not saying you should not teach your kids about investment. Just do it gently and interestingly.
I am basically a longtermer with the momentum streak.
For your kids, 1st bank cannot be wrong - longterm.

Happy hunting.

Samstone4

@CrazyT

Don't think Big Treat minimum was 1 million units.
Certainly wasn't when I applied.
But you're right some money was returned.

Tantalizer should be a good one for longtermers but I'm unlikely to invest as the minimum of 5 million Naira is a bit much for me, with so many other action going on at the moment.

Hope you're not torturing your kids with investment lessons!

Samstone4

@Guy in Cali [NickLee]

I will urge you quickly phone First Registrars regarding your returned money for First bank: +23412701078/9 before they say they have posted your money/certificate.

It took me all of 30 minutes to get mine when I went there in person.

Samstone4