₦airaland Forum

windywendy:
Yes o, that's all I heard too, plus the fact that they're rapidly expanding and cover a good part of the eastern markets. I'm not recommending as a fundamental stock though, just a quick 10 - 15% cico move (for those who care to take that risk ).

from what I am hearing there is misatke of identity. The company covering th eastern market is said not to be listed on the NSE!!!!

windywendy:
So which ones dey your shopping list? I'm beginning to think of closing out my cico positions and move into safer havens as i'm getting too busy these days to pay constant attention to the market. Any takers on which ones are good to go?

If you have a real agbero broker, fire your order for Oando at MARKET to him/her right now!!! It will do you well both for CICO and even for the Long Term. OandO will soon ask to have a separate sector for it on the NSE with two companies. the marketing (less profitable) and the upstream. Now is the timen to get in before the split. They will also do a PO soon and you can be sure, for an oil company they talk in dollars so expect a similar MTN type of thing. With the recent acquisition ( i only hope Tinubu no go wake up and say na Ocean and Oil buy the bloc), you can be sure that na money spinning. Add that to gaslink supplying gas to Lagos you have the first integrated energy company out there.

Major risk is corporate gorvernance. Not sure that Tinubu and co will not do a yahoo yahoo!!

loma:
If AP ends up buying Chevron, what happens to the shareholders in both companies? Do they adopt AP's current price or Chevron's current price?

AP's current price. Chevron will disappear and their shareholders will be alloted AP shares based on teh merger scheme.

For the insurance companies, all the mergers were done in secrecy. No one saw the merger document! Really sickening!!!

windywendy:
Isn't the current year end March? So they should be releasing one around August this year for the March 2008 year end. There should also be one for the year-ended december 2008 (though that will be a 9-month result) and then from 2009 things get regularized. Abi I miss am?

Current end year is March but from what I am hearing, the year start April 1 2007 and will run till December 2008!!! I hope it is a typo because that will be madness.

Mr. Risky:
Oga Wanajo,  na my level that time now.  With N7,000 that you don open account  As my level come de high, I come de raise am - now I am fully with MBC Securities where I am well known  So right now I am selling off my stocks with those other mobile brokers.  For instance I sold since 2nd of February, I called yesterday, the madam there said "my child is celebrating his birthday, I will sign the cheque when I probably get to office tomoyyow".  YES MA Since on the 2nd of February!!!!!!!!! When people talk of CICO, I just laugh. THANK YOUR BROKERS, with all these yeye brokers, YOU MUST BE FORCED TO FIND AKT ADDRESS or go for deliverance

with small money, would rather buid up buying PO's before opening account with any trader!!! Now City Code takes excellent in uselessness. Never used them, but had people that use them and I just laughed!!! You can never get your status position from them. They don't know what they've sold or not sold. The funny part is that they have branches all over especially in the Niger Delta. They are apparently a good company but cannot touch them with a one foot pole!!!

Well for those just starting CICO, well, you will learn that the first thing that makes money for you is your broker!!!! Just watch as your BUY and SELL orders are not executed when due because when you wnat to BUY they tell you the share is on BID so they cannot find a seller and when you want to SELL it is on offer so no BUYER!!! Then you go see spreadsheet money disappear. This is worse if you speculate on stocks that you don't just wnat to OWN

loma:
Banks, Dangote Group and other oil companies jostle for acquisition of Chevron Oil Nigeria
Tuesday, February 12, 2008 Printer Friendly Version

Banks, Dangote Group and other oil companies are making various offers for the acquisition of Chevron Oil Nigeria Plc.

This followed the news of the proposed divestment of 60 per cent stake by the San Ramon, United Sates-based Chevron Corporation, from downstream operations in Nigeria.

Chevron sources told our correspondent on Friday that the management of the Nigerian operations in a recent meeting with workers spoke of banks, the Dangote Group and other oil companies, including African Petroleum Plc and Oando Plc indicating interest to acquire the firm, which share price had gone up since the breaking of the news.

I hope the mugus are not mistaking Chevron oil plc with the upstream sector!!!! Na petrol station this one be OOOO

ty_ademolu:
Windy Wendy and Wanajo with my TopGun official

What do you think about UAC-Prop. na so the thing don dey free fall since I buy am?

Not on my shopping list. Yes mortgage sector is good but the margin is small and teh gestation period is too long for the Nigerian environment. Solid company but does not fit my investment plan. Left only 5,000 units there to enable me get annual reports and monitor the company.

LondonCool:
@wanaj0,

Please could you kindly help me contact your 'Relationship Officer'-Susan@Afrinvest for me. She has refused to reply my last 3/4 emails to her over the past 2 weeks and has refused to tell me the outcome of my previous Dunlop purchase instructions. She has refused to send my requested CSCS statement and Stock a/c. She has refused to respond to my text messages too. I copied one of their bosses in my last email but to no avail. Just because we are in Diaspora does not mean we should be treated with disdain.I even emailed the Broker directly but got no response.I can't even log on to their website again.Thanks

Sent you an e-mail. Kindly respond and let us see.

IBTC is changing its financial end to December to agree with the Standard Bank group and CBN directive. Will take affect from April 1  2007!!!! So no declaration till this time next year from IBTC!!!!!!!! Na 21 months result dem go declare

windywendy:
Oga Wanaj0, any news about Negris?

Big madam, nothing on Negris yet!!! they are still far from doing the PP.

Mr. Risky:
Like Wanajo would say, there are brokers and there are brokers!

Of all my brokers, 3 have successfully succeeded in BREAKING ME ALMOST TO PIECES.  But I have my thumbs for MBC Securities; they are award winner any day any time.  SERVICE DELIVERY - EXCELLENT.

Account opening may be a little problem for low brower investors:  just N5m, thereafter you have good stories to tell.   This has been my personal experience though.

The three other yeyerest ones are:  Mainland Trust Ltd (Don't trust their services), City-code (better pass for village-code), Profund securities (they are BEST in making mistakes or forgetting your mandate, blah, blah).

Very soon, all those brokers that would not improve their services will have their names printed in bold here every week.  Many have sent unwary to see AKTOPGUN - don't think any young guy needs to rely on antidepressant these days for stock investment

Youself!!! How can you go for all this kind of brokers. City Code One of the oldest around still stuck in old way of doing things!!! Not sure they have a functional e-mail self (not yahoo OO)

RoughCut:
The question is who are those buying? For starters Universal insurance will have to do a share reconstruction and/or IPO as soon as possible so it is in their own interest to bid up the price beforehand and it looks like someone or some peeps are doing just that

NSE we hail thee!

Not sure anyone is buying!!! Some brokers warehouse the shares and sold at a premium to their clients. So right now, those shares are being crossed to those clients. That's why those charts get it wrong sometimes in Nigeria. They already assume a perfect market which is a NO NO!!! the kind underhand deals that we do is serious!!! It is more like the more you look the less you see!!!

RoughCut:
The question is who are those buying? For starters Universal insurance will have to do a share reconstruction and/or IPO as soon as possible so it is in their own interest to bid up the price beforehand and it looks like someone or some peeps are doing just that

NSE we hail thee!

Not sure anyone is buying!!! Some brokers warehouse the shares and sold at a premium to their clients. So right now, those shares are being crossed to those clients. That's why those charts get it wrong sometimes in Nigeria. They already assume a perfect market which is a NO NO!!! the kind underhand deals that we do is serious!!! It is more like the more you look the less you see!!!

Rhemagirl:
Please is Universal Insurance the same thing as Univinsure?If yes when did u buy at 0.95K because the price i saw is 3.25.Is it okay to buy the Univinsure and Hmarkins (which i know nothing about).I am just after my pocket to do CICO and they are not for keeps.

@Gurus

Please advice because these are the cheapest Insurance available so far apart from ACENINS which i can see is not available.

Cheapest as per what? I think ACEN INS was acquired by another insurance company

@ all

Me no own any Big Treat. na only Pumping dey scare people that are interested in waiting for 114 years to get their money.

Well there are brokers and there are brokers. One got my OandO for me but the other one was speaking grammar. Telling me that OandO is on BID. So na stocks on offer he wanted me to buy? So if your broker got OandO for you this past two days, dash am something OOO. The thing no easy for floor. You must be a 'jaguda' broker to get some. So if you are running after a moving train, make sure that your broker na the type that can jump into a moving molue and please have a price and date limit!!!! Or else, na for maximum price you go get your trade alert after like one month so beware.

Well, Nigerian German has reached my first exit price. So the one bought at 4.00 had to go. The one bought at 12.00 must stay to cross the 30.00 mark well well. BTW, Nigerian German and UNIC are related. na husband and wife dem be!!!

On Universal Insurance, na by default I get am. Bought @ .95k with  a loan @ 18% interest. Add another 2% selling Charge that means anithing above 1.20 is a profit for me. So at the first opportunity, na to offload with anger!!!! I don't associate with those kind of people. Listing 16bn shares How dem go feed the large mouth?

If you hold a stock without fundamentals, make sure that your broker na real agbero if not you go dey watch your profit dey go daily and you no go fit do anything.!!!!!

crazyT:
Someone was asking about the Partnership Investment Co. Ltd: Private Placement, here under is what I got from my broker;

W. Wendy, wanaj0, Pumping et al what's your opinion on this?




Raising capital to meet up with regulatory requirement… Partnership Investment Company Limited (PICo.) is seeking to raise N3bn via a private placement of 1.5 million ordinary shares of 50kobo par value at an offer price of N2 per share with a view to shoring up its capital base from N378mn to well over N3bn. In April 2007, the Securities and Exchange Commission (SEC) had directed all operators rendering issuing house and advisory services to recapitalize to a minimum of N2bn by December 2008.



… and diversify operations. The proposed application of funds confirms the company’s vision of becoming a well diversified financial services group. PICo would be spending over 45% of its offer proceeds on strategic acquisitions, enhancing subsidiaries’ capacity, project and real estate financing.



Strong regional presence and growing retail franchise. PICo. operates in four key regions ( Lagos , Abuja , Benin and Port Harcourt ). The company runs a business model that revolves around providing brokerage and asset management services to about 10,000 retail clients it has currently. We believe the recent regional expansion embarked upon by the Nigerian Stock Exchange should bode well for PICo, particularly within the oil-rich middle belt and Niger Delta regions of Nigeria , given its understanding of the culture and peculiarities of the locals.



Increasing market share. The company recorded a 3-year CAGR of 74.6% and 38.7% in gross earnings and net profit to N510.3mn and N14.8mn respectively in 2006. However, profit margins have been volatile over the years, due to high cost of financing its operations. We expect the fresh equity to be injected into the company on the successful completion of its offer to moderate this trend.



Q3 ’07 results show an impressive run in profitability. PICo recorded a PBT of N121.4mn on gross earnings of N545.9mn. Applying historical tax rates of 34.5%, we estimate a net profit of N121.8mn and a net margin of 16.8% for FY ’07 (FY ’06: 2.9%).



Valuation yields significant upside potential. Our valuation of PICo yields a fair price of N4.14 per share which indicates a 107% upside potential when compared with the offer price of N2.00.

I stopped reading when I got to the bolded portions!!! Too many errors to even bother

pumping777:
My own na to share the info. Wether he good or bad, no be from my mouth you go hear say teacher mama get winch

The way the stock price crashing though, I guess this is not knews to those that hold the share.

Your bad belle pass be careful!!!!!

Na result dem release wetin concern you with forward PE!!!! Can't you see the fantastic result with PAT growing by 40%? Why did you now add your own forward PE wey dem no announce. Abeg, stop am OOOO.

@upward, me no dey look chart but can tell you that DSR is one of the best companies out there Medium to LONG TERM. na the quarterly dividend dey hold am down. Would like to get @ 40.00 though!!! that one go be KILL

pumping777:
BIG TREAT PLC UNAUDITED Q3 RESULT FOR THE PERIOD ENDED 30 SEPT 2007
2007 2006 CHANGE % CHANGE
N'b N'b N'b %
TURNOVER 2.045 1.585 0.46 29.02
PBT 0.202 0.155 0.047 30.32
TAXATION -0.019 -0.034 0.015 44.12
PAT 0.183 0.131 0.052 39.69

Forward PE of around 114x.

Pumping you wicked oooooo!!!! Did Big Treat publish their forward PE.

Well, a forward PE of 114x is not bad. This na NSE!!! Once you can find a bigger MUGU to sell stocks to no wahala!!!

BIG TREAT having bigger capitalisation than UACN na the joke of the century!!!

RoughCut:
That must be 100K + units i know quite a few peeps who got 50K

I think anything above 50,000 units got 90% allocation!!! Not as bad as Dangote flour. Note also that more units were offered for DSR. Additionally the fowrard PE of DSR was much lower. DSR was offered at a discount but the flour was done at a premium.

faketan:
Wanajo,

Please what do you think about NEM's acquisition of Lombard insurance? Does it in anyway improve the outlook of their fundamentals?

To some newbies like me, the link below will make an interesting read.
http://www.sec.gov.ng/pdf/Capital%20Market%204th%20Quarter%20Report.pdf
enjoy!

NEM already acquired/merged with Vigilante. Actually Vigilante people now dominate the board and management of NEM. Problem is no one yet knows the share exchange ratio. Everything about insurance companies are shrouded in secrecy as if na secret cult!!!

NEM is currently rebranding but I find it difficult buying NEM at 5.00!!! same company that I was offered rights @ N0.55!!! Not complaining though but things don't just add up!!! Can't remember last time dividend was paid.

RoughCut:
Dont forget that there were no returned money for DSR everybody that applied as far as i'm aware got their allotment i think.

Dangote Flour is a different kettle of sish altogether very tight so i tell you for a fact the fall in Dangote Flour will not be as steep as DSR that tells me not a lot of peeps will be selling soonest even when they get the pali and when they do they will be selling at the top end of the price range

This one will be quite interesting

There was returned money for DSR above 50,000 (or 100,000 units) I think. dangote Flour rode on that hype.

@tiwantiwa, I don't look at any chart but me know that it is a candidate for the 10% that poeple here like!

Not my kind of stock though

RoughCut:
That's right but we are not talking free-fall here not by a long shot. I expect a dip for a few weeks when the certs are out for peeps to take profits when the dust don settle i expect a stabilization at a very attractive price-level not sure what is yet.

Funny enough i was actually watching John Holt when it was N3 i think a couple of months ago. My Old man used to be a manager in John Holt in those days so i was just curious to see who are the peeps buying the stock. I think its about N10 now.

Hmnnnnnn

Remember some people bought DSR at 56.00 before it now settles @ 33.00 before moving to the 40.00 range. water must always find its level.

As per John Holt, very useless company. When C Eze was teh chairman they were just accummulating losses every year. made money from them capitalising on their swings. Sold but got to the registrar and was told that I still ahve some bumper holdings there. I think the registrar is wrong but asked my broker to investigate.

RoughCut:
I think the guy will need more than 30 mins if he's to do a proper job o! No be the one wey he go dey do back rub they take one eye scan nairaland

How long before Dangote Flour catches up with Dangote sugar?. In terms of fundanmentals the two companies couldnt have been more different and yet their prices will converge at some point Na wa o! I have to keep reminding myself this is NSE and the volumes are getting reasonable at least there were 100 deals today so we now know that at least 100 peeps have got their pali

The Dangote Flour price go still find im level. Just let the certificate be out!!! na those wey dey BUY now I pity. Even @ 15.00, me no fit BUY the offer. Dangote Sugar however is looking attractive. I expect it to take another leap soon.

For those that do not mind buying any type of Stock, John Holt is available to be picked. So place order fast.

Chellarams don cross 30.00 so make I go get Turkey for thanksgiving

Who dey buy Universal Insurance? na wa for my people OOO. Go dey expect the free fall of that one!

hbrednic:
yes 15% allotment the highest insult of the century.

for those asking of UNIONDIAG.
i heard cashcraft messed up the whole PP and hence the delay.the certs are now been handled by first registra
and may be out before the end of march.so lets keep waiting as we no fit fight.

Unable to fathom what people saw in that stock!!! Well, some people will make their money though.

Saw someone willing to Sell Universal at 4.00 and Goldlink @ 3.50. A broker actually promised to give his clients who has return money from the Universal PP same shares @ 2.50!!!!!

WAPCo, will stay around the 60.00 mark for a while. wait for the Q1 result before you enter. Nothing fantastic to be expected from them. They are still in debt, capacity not being expanded (there is a plan), gas supply not guaranteed. Except those issues are sorted out, WAPCo will not be able to deliver.

WAPCo is a good and solid company but the terrian now is quite rough for it.

blueband:
I thought importation was the shortest way around sorting out the cement sector?Artificial scarcity was created.What happened to Ibeto Cement?Obasanjo took their licence away.And ofcourse Nkalagu Cement is dead!

Not sure if you remember the port congestion in the '70s. Importation is not an easy solution.

Don't know where people get stories about artificial scarcity from. Ibeto is now allowed to import. He vowed to crash the price. You know what, the price being moving upward since then. People talk of monopoly. Check out the number of companies involved in the cement business!!!

Problem with us is that we do not think deep. Cement is an energy demanding sector. With the current crude oil price, scarcity of LPFO, vandalisation of gas pipelines, energy cost is eating deep into the profits of those companies. It  affected WAPCo, it is affecting Flour Mills, it will affect Dangote etc.

One other problem is the transporation cost. With the deplorable state of our infrastructure, it will cost a fortune to move cement from the ports to the end user.

No short cut here. We need to FIX the problem.

damoche07:
Hi guys. AKTopgun et al,thanks for keeping thethread on track.your candleology is very revealing and i really enjoy your analysis. Hope your Junkies are reacting well to treatments.How is that guy doing now?am sure he is better.

I bought into Union Diagnostic PP last year. Somebody was reading his paper jejely in the plane when i borowed it and saw the one page ad.They promised to list by october 07. anybody out there fron Cashcraft who can give us an update?

Egbon Wanajo,i can see you are upbeat about Oando.I am happy that at least a truly Nigerian coy is diving into Upstream.As u rightly said,thats whats Transcorp should be doing and i believe they will still do it once they can be set free of Mtel and get part off their money back.Make them just announce that exploration has started on their block and see spike.That stock is a N40 stock by the next twelve months(Caveat Empty or Emptor o).With OML 125 and 134,i wish Oando good luck.I hope they will be able to deal with the Italians well well.At least then don borrow money. With Oando,Afren and the new guys coming up,we will soon get a foothold in the Upstream in sha God

As per OandO the major opportunity here is the cash flow. OML 125 is an already producing field. For the other companies, from Exploration to production can take as long as 4 to 5 years.

Also OandO boys are used to dealing with the Italians. Remember they bought AGIP and merged it with Unipetrol to form OandO. Also, they've recruited some peeps who should be able to point them in the right direction. They own some other oil blocs apart from this.

For Transcorp, they still have a long way to go!!!!

husu:
My Universal Insurance still dey represent but I no see Consolidated Hallmark for nigeriansecurities site oooo. Hope no be under cosntruction them put am or them don delist the company Abeg, my kg for that one big ooo

@wanajo,
bros u advised us sometime ago against universal insurance,u said they have many units available and there  is HIGH  possibility of S.R.and TS.

I am still against Universal Insurance. I saw the prospectus and I let it pass. Listing 16bn shares with a PAT of less than N500m? Too many mouth to feed.

Yes I got some units as a preferential investor via a group. Not our first choice but we made an investment that was about to turn awry so we pressurise the issuing house to give us something else so that's how I ended up with Universal Insurance. Still a BAD company anyway.

For those that bought the PP, the allotment was terrible. There will be refund money because of the preferentiall alottment that they did to my group and others.

aktopgun:
@bros wanajo
i placed an order for oando today. as u know, i was a bit slow on this one because i highlighted it at the end of last yr if u remember.
i sincerely hope my broker gets it but he wasnt sounding too hopeful (i bind him ). let him earn his dosh today.

between, i cancelled that order on that insurance company. not juicy enough yet for me. in fact e sour on further reflection

OandO is not available. Definitely not at current price. My broker did not get any for me yesterday. gave orders for two brokers todat at market price. If no luck today, then I will cancel the order. Have some there already so no shaking.

samstone4:
@ Wanajo

Thanks for the advice.
I guess the only other comparison for those thinking of Orient or Amakpe refineries will be to compare their prices.
For the beginners out there, I don't mean the nominal prices.


Samstone4

Except you plan getting on the board of Orient, the issues surrounding it is enough to let it pass!!!!

If na oil indutry you dey look for, go for OandO at current price. Just placed another order for more units today.

frankiriri:
.
The highlighted part is very true. Most coys are attracted to do POs & PPs because of the high valuations that the market is placing on stocks. If fact If Ponmo PO is launched it would be oversubscribed. The correction would be precipitated by the release of results that don't meet expectations of the investing public. So with the exception of Top quality mgt teams who have a knack for surpassing expectations, many companies doing POs will find their prices falling flat in their face. I just hope it would trigger a general dissillusion with the capital market. My advise is that you shine ya eyes and invest in only fundamentally sound stocks ( whether you are a taliban or not)

The only saving grace is that for some of them, people don't have the certificates yet especially those insurance companies. Imagine listing 16bn shares for a company that cannot make a PAT of N500m!!!! What a valuation!!!

By the time the capitalisation of Big Treat is more than UACN with all its Mr Biggs you know that there is a problem.

For those holding illiquid stocks and stocks without fundamentals, well enjoy your loot but I hope you understand the risk.

Part of the problems on this site this past few days is basically people making and accepting recommendations without understanding the associated risk and how to hedge against it. People also need to tally their investment style with their personal risk profile.

You can be sure that once we get to the result season, there shall be weeping and gnashing of teeth. WAPCo started it. Watch out for the others to follow. WAPCO's own will be minimal though. GTB and Flour MIlls are two stocks that I am anxiously waiting for their results vis aviz their valuation.

The OandO story is straight forward. They beat AP to it. Now OandO is strategically positioned. If you are not on the train get in now. I expect a PO later. It's not easy to raise $625.7m That's the kind of deals that Transcorp should be doing.

http://www.thisdayonline.com/nview.php?id=104366

Oando Acquires 2 Shell Oil Blocks for $625m
By Chika Amanze-Nwachuku, 02.26.2008

Indigenous oil marketing company, Oando Plc, has acquired Shell Nigeria’s 49.8 per cent stake in two oil blocks for $625.7 million.
Oando emerged the preferred bidder of the two deepwater blocks offshore Nigeria Oil Mining Lease (OML) in an international competitive bidding process. The company made an immediate payment of 10 per cent of the sum last Friday while the balance will be paid when the transaction is finalised.
An international newspaper had late last year reported that another Nigerian company, African Petroleum Plc, indicated interest in the oil blocks.
The decision of Royal Dutch Shell to sell its stakes in the two blocks, THISDAY learnt, was sequel to its plan to reduce its business in the troubled Niger Delta region where the company currently loses about 200,000 barrels per day of production.
The two stakes owned through Shell Nigeria Exploration and Production Co. Ltd are in deep water blocks OML-125 and OML-134, formerly known as OPL-211.
Agip, a unit of Eni, owns the remaining 50.2 per cent in each block.
Commenting on the transaction yesterday, Group Chief Executive, Oando, Mr. Wale Tinubu, said OML-125 currently produces 18,000 barrels a day of oil from the Abo field combined with near term production growth and high potential exploration acreage to complement Oando’s existing upst-ream position. Tinubu said OML-134 although still in exploration phase, has already recorded significant discoveries.
“The consideration payable is US$625.7 million in cash which will be settled in two tranches. An immediate payment of 10 per cent was paid on Friday, 22nd February whilst the balance will be paid on completion. The consideration and any adjustments will be funded from both internal cash resources and from external financing. Standard Chartered, Standard Bank, BNP Paribas and Merrill Lynch are providing financing to Oando for this transaction. Standard Chartered Bank acted as financial advisors to the transaction. We are pleased to have emerged as the preferred bidder in this competitive international bid. This milestone underpins our preparedness and capability to develop a sizeable upstream portfolio,” he said.
Commenting further, the Oando MD said: “We have been fortunate to be presented with the rare opportunity to acquire a balanced upstream portfolio in our home market in line with our stated principle to acquire proven, active and near term properties. Our ability to marshal substantial resources to win a bid of this magnitude further reinforces our status as sub-Saharan Africa’s leading integrated energy group. We are proud of this development and the positive impact on indigenous corporate Nigeria’s profile in the global oil and gas community.”
A spokesman of Shell Nigeria, Mr. Precious Okolobo, confirmed last night that the deal received the nod of the Nigerian government and the waiver of pre-emption rights by the operator, Agip.
“We can confirm that we have reached agreement with Oando Plc for the purchase of Shell's interest in these blocks [OMLs 125 and 134]. The deal is subject to approval by the Nigerian government and the waiver of pre-emption rights by the operator, Agip, and we cannot comment further,” Okolobo said.
The oil major had late last year announced the planned restructuring of its Nigerian business to the effect that all the company’s affiliates will come under “one Shell structure”.
In line with the restructuring exercise, Shell Group had also last year disclosed plans to sell its interests in the Nigerian offshore blocks in a move aimed at reducing its business in the troubled Niger Delta region.
Until yesterday, Shell Nigeria neither confirmed the planned sale nor the reported plan by AP to purchase the oil blocks.
However, reacting to alleged plans by Shell and other oil majors to divest from Nigeria, Paolo Scaroni, Chief Executive of Apip, a unit of Eni SPA, holders of the remaining 50.2 per cent, argued that the Niger Delta crisis was not enough reason for oil majors to leave the country.
"The situation in Nigeria certainly isn't peaceful, but I don't think it is such as to push oil majors to leave," Scaroni had said.
The planned reorganisation by Shell Nigeria, believed to be the first of its kind since the company commenced exploration activities in Nigeria over five decades ago, has been suspended reportedly on the directives of the Federal Government.

frankiriri:
If PPs were organised the right way you would know for certain if you have it. You guys are just lending your brokers interest free money.

For PP's, don't go through any broker. Go through the issuing houses or the underwritters. For the CHAMS placement, all those that went through any of the 4 issuing houses should not have a problem. When you go through a broker, he will collate and submit his returns at the end of the offer. Except your broker has block booked (warehouse some shares) by the time he is submitting his application to the issuing house, they will tell him that they've reach their limit hence he will have to return your money. That basically is the risk for those PP's. If you don't have a link with the issuing houses, don't just bother except you are sure that your broker has block booked certain shares.

Now, it is this warehoused shares that you normally see being traded immediately shares are listed on NSE. The brokerage firms will start to cross the shares to their clients who applied through them. that's why some of those deals are purely imaginary!!!

samstone4:
@Wanajo, Gurus other Nairalanders

Here's one I made earlier, please feel very free to comment:

"Any information/analyses of the following private placements:

Partnership Investments Ltd

Valueline Ltd and

Food Concepts Ltd."

To this you may add:

Daar Communications PO and what makes Amakpe refinery that superior to Orient?

Samstone4

None of those PP's fit into my investment philosophy so I am not even thinking of them. Not sure I am interested in those sectors of the economy. One other thing is that when you have a lot of PO's, it is a sign that the market is over valued and a correction is imminent. That is a general rule in the capital market.

On Amakpe refinery it is better in tow major ways than Orient. Firstly the supply side is sorted out. They already know the 'grade' of crude to be processed. They know where to source the crude from. They can come up with a design that fit that description  or crude specification.

Secondly they can bypass the regulated market by processing for export. Since they are close to the Qua Iboe terminal, they can lean on already available infrastructure unlike Orient that is in the hinterland.

You also expect that a lot of contractors and manpower are readily available close to Amakpe than to Orient. Hope this helps.

As per the PP, I think the Amakpe PP was done a while ago.

That said, the margin on refinery business is not that big so I am not too keen. I invest in areas where there is a monopoly or where the margins are crazy!!!

RoughCut:
Can you imagine Universal Insurance listed 16B shares? and yet you can't get that anywhere i mean how much would they have to generate in premium income to justify this overbloated shares they have listed?

So prime candidate and in pole-position to do a share reconstruction and that brings its own problem of nominal price syndrome!_{another first on nairaland!}

Yes Universal listed 16b shares but who are the owners of those 16bn? Who are those trading?

Some brokerage house basically warehouse the shares and no selling until after N3.00. Problem with it is that most of the buyers are going to DUMP thus causing a free fall!!!! With 16bn shares, once the certificates etc are out, it is very difficult to manipulate the price. Those insurance guys are just clueless!!! Hoa many banks have up to 16bn listed shares?

flakyy:
Yodi how you dey

Dont forget that AIICO is three companies in one now, AIICO merged with NFI insurance which used to be listed and LAMAK insurance, We should be seeing a three in one result when they eventually release it.

Just to help you see that it may go beyond N8.00

Hope you also know that the mouth to be fed has also increased!!!!!

aktopgun:
na now i know say u be proper winch person!!    

bros wanajo, remember that one u wan sell for me yesterday? i don order am today sharpish with my cutix profit

Hope sey you get am BUY sha. Na huge volume was traded today!!!! I think the thing land for CSCS just on Friday so trading should be easier now and the price may stabilised.

As the IPO vaccines no dey my body yet, I am still waiting for the listing of my Investment and Allied Assurance. Na that one be the killer!!!!

RoughCut:
i read the NEGRIS thingy but i'm having trouble differentiating between this company and CI Leasing and  Japaul Oil _{not that i'm complaining} once its listed that's another CI Leasing and Japaul Oil all rolled into one.

Better days are here regardless if Yar'Adua's election is annulled or not!

Will wait for the prospectus of NEGRIS. Detailed someone already to be harassing one of the directors. No slacking for that one. Conering Solar Turbine market alone is enough to sustain them.