₦airaland Forum

Good day everyone,
Please I bought some presco right issue on ngx connecting it to my Stanbic stockbroker in November
But since then it hasn't reflected on my Stanbic stockbroker dashboard
I can't do nothing with it on ngxinvest dashboard and it feels like my money is just hanging in limbo

Am I taking the wrong approach to this?
I've reached out multiple times to Stanbic customer service with no response

jonnysessy:
You have made a great choice by buying into Presco. Agricultural sector is the order of the day, or do I say palm oil business. With this your recent purchase you are automatically qualified for an interim dividend that will be paid in the month of November. To your first question, nothing is wrong with the Stockbroker app you used in buying it. The share price of Presco doesn't move like that. It take a 100,000 units to move a share price. Remember, the Outstanding Shares of Presco can't be compared with banks. More so, many that are holding Presco knows that they are holding goldmine. Hence, they don't like trading it. With a stock like Presco you are sure of your capital preservation and also yearly dividend. Share appreciation might come when there is news in the market. But, don't expect daily movements in share price of Presco.
To your second question. I don't seem to get that very clearly. Do you mean that you have about 100,000 unit or that you invested about N100,000 in the shares. If it is the first, then you are a big time investor. This is because a unit of Presco goes for about N1350 in the market, though officially N1480. This was because of quantity to move the price is not available. Hence keep your Shares. If you meant that you also invested N100,000 in Presco, that is also good. It means you have fewer number of shares. I call that starting from a humble beginning. You can be topping it up gradually. The good thing is that you are already a shareholder in the company. You can be increasing your stakes. Their financial report is in green. They have been making good profit over the years. In fact, if you check the progression from five years reports, you will see that you made a great choice ( Presco should reward me as I am singing their praise )

Lesson learnt: Buying a fundamental company is gain anyday. Quantity bought is immaterial as you can gradually increase your stakes over time. The more you plant, the more you reap. Capital is key to investment.

Thank you

Good day everyone
I bought some presco shares because of the hype.
But the share has literally not moved up or down since I got it.
I have 2 questions:
1. Is this an issue with the stockbroking app I'm using?
2. Should I keep the stock, it's a little under 100k and I tried studying the financial reports and they look okay to my untrained eye