₦airaland Forum

yodiyokun:
Getting the timing right is like knowing what the future holds with certainty, but we can at least try with some reasonableness.

@shigidi,

Insurance will do well, but I don't think it can be as good as banking except for those that bought the shares at < 1 or 2 naira. We have to remember that insurance business still has a long way to go in this country where there is little or no disposable income. An average lagosian has a bank account, how many have insurance policies - whether motor, house or life.

This may change , hopefully as Nigeria changes for the better.


@Wanaj0,

You are right that the larger the portfolio, the greater the caution.

The Banks I have right now, I will hold on to them but I doubt that I will buy any more soon.

Its wiser to redirect one's focus to other sectors of the market.

If you are in for the long term, timing makes little difference in that your screening criteria will determine whether to BUY or not. For me, I don't try to time the market. For example, can you tell me the lowest and highest that First Bank, Zenith, Oceanic etc will be for teh remainder of the year?

On Insurance, the sector will do well in that there are opportunities. However, the regulatory environment need to be improved upon to make the sector what it ought to be. Local content policy of NNPC should favour them provided the policy will be enforced. Group liife policy will also benefit them. Note however that because of the rules, the dividend payout of insurance companies is small. This is because of the reserve requirement. Don't forget that they are covering risk and if the risk should materialise, claims may actually wipe off their capital base. So while the opportunity is there, the risk is also enormous. Part of the problem of insurance companies in Nigeria is image. This is a consequence of their lateness and reluctance to settle claims.

Banking is still good but marrgins will start to drop and with the bloated oustanding shares the PE's will likely hit the roof tops.

WAPCo is solid but don't expect a fatanstic declaration. They are still paying of debt and will need further investment to remain relevant. They may become a marginal player if they don't do something fast.

On sectoral performance, it is more like a yearly thing. 2003/2004 was for the oil marketing companies because of the deregulation policy that period. 2004/2005 was for the cement companies because of the ban on importation policy that came out. 2005/2006 was for the banks because of the consolidation policy. 2006/2007 is for the insurance companies because of the consolidation policy. So which sector will the main one in 2007/2008. I tend to tip the manufacturing(including health care). They will benefit from lower interest rate, improvement in energy supply and going forward improvement in infrastructure thus reducing their operational expenses (distribution cost)

shigidi:
@ wanajo,
i remember u posting a few weeks back that banks should be half of an investors portfolio because of their over 50% growth rate. now, u say they are no good buys in the banking sector right now.

Tell me how successful you are in timing the market? Even the professionals cannot do that!!!

Banks will likely constitute 50% of your portfolio. It does mine anyway.

That does not contradict the fact that based on current valuation, most banks are either fairly valued or overvalued so why buy them now. Will rather put a HOLD on most??

yodiyokun:
Hmmm - It always good to bounce off ideas for the right perspective.

Wanaj0, I don't see flour mills repeating that feat anytime soon! as for mergers and accquisitions, someone will always have the better end of the stick, I wager it will be crusader.

While we await the news of the consolidation exercise, money can still be made.

Temmie, I understand you perfectly and I agree with some of your statements - when I have money that I want to investment and completely close my eyes , I will into the blue chip stocks.


Cadbury and wema are in the same boat - no results, so we can not tell their direction. But I will watch out for them cautiously.

Comparing Japaul oil with Dangote Flour ? isnt that comparing apples with oranges.



Thanks guys

Don't know how you arrive at the conclusion that Flour Mills will not repeat that feat soon!!!!! The issue, is the fundamentals is strong, they are growing profit, they have few outstanding shares so a bonus issue is easy for them.

On crusader and other insurance companies, until I know the outstanding shares, it is a no go area for me. I salute those who are attracted to them. Maybe it has to do with the fact that I bought UNIC at 1.10 last year, NEM was 0.55 and Crusader was less than 2.00. Need to know what has changed apart from teh 'herd' mentality. Any improvement in EPS (outstanding shares will show that)

Well you can compare all companies based on returns that they are likely to give. That's the basis of the Japaul and Dangote comparison

Temmie10:
@wanaj0
Its all a question of risk profile and personal investing objectives. A calculated risk at best is still a risk albeit a safer risk.
NGC and flour mills may seem safe bets BUT they are no way the best stocks in the market, come a year's time they will not record the most gains in capital appreciation. Its a high risk high reward play.
Some invest in the market to get slightly better than fixed deposit returns, others look for much higher returns. Objectives are simply different, hence risk taking will also be different.

A few days ago, my broker made a mistake, misread my instructions and sold mbenefits at 3.62, i was furious even though 3.62 still yielded profit.
Now its 3.00, i am diving in again with all smiles. I like that sector because its always got activity and euphoria that i can take advantage of,
I wouldn't be happy at all if i have been holding flour mills for the last few months. Its a stock that i can always take position in when the time's right (and if i so decide, possibly at an even cheaper price), thr's no urgency/activity thr and to me, locking money in there at this time is like putting money in the bank except i am paying commissions.
Fundamentals tell us the important basics but timing (when to buy, when to sell, when to hold) is also of utmost importance too at least to someone looking for huge returns.
i am still a huge fan of banks because the liquidity is there, they know how to manufacture profits you dun expect time and again (access, phb, afribank etc) and the largest chunk of the nse cap is there, as well as transparency of info thanks to all the po prospectuses flying around,

@yodiyokun
Cadbury is not for the fainthearted o. While they have a good business model which may yet yield good returns, their case still dey court, and the demons of overstating profits are still hangin around

Yes you are right, everything has to do with your personality. That's why I hardly go round making stock recommedations without having an inkling on the type of person. Moreover, I am more of an investor than a trader. I also don't try to time the market.

I don't mind if a stock returns 1000%. My risk profile will not allow me to buy if it does not pass through my screening criteria.

Now wonder why IBTC do not have some stocks on their selected list? It has to do with risk. Based on the amount of money they are investing, some risks are not worth taking.

As you grow your portfolio, you will start to understand that preservation of capital is the first rule of investing.

When I talk about calculated risks, I mean I have enough information at my fingertips to make a decision. Don't know how long you've being investing on the NSE. Note however that 2006/2007 is not the norm You need to understand what is responsible for the shift in market dynamics.

Never said that NGC and Flour Mills will return the highest capital appreciation. If you know the stocks that will do that, kindly let me know!!!!!!! However, I am comfortable holding companies with steady growth. Later the market will recognise their potential.

I always try to have the annual reports of companies that I invest in. I need to know what they are doing, where the profit is coming from and try to see the warning signals.

I buy for the long term until there is a shift in fundamentals. I don't try to time the market.

yodiyokun:
Wanaj0,

I know you are very risk averse in your approach and I appreciate and respect that, but even if crusdaer is accquiring other insurance companies? will it not accquire their market share, assets, and profitability with it. That may be a better approach to expansion and growth rather than coming to the market to raise funds.


I know Wema is risky especially without any results, and not too good testimonial in the past. I have not decided on it totally- I will keep the money I want to use for it in hand - it may be worth my while to buy Japaul oil instead .

Anyone have the Japaul oil prospectus?

My problem with Food and beverages is the rate of return is very moderate and the total cost of ownership is quite high.

Anyway, I just start this thing.

Do you have any information on Cadbury? we know there are no results yet - but is there any cleansing going on or any corporate action that may show they are on the upward track again.

I am not risk averse. However, I take calculated RISKS. Not risks that are not worth the effort. Not buying blindly based on sentiments. I am not a gambler.

Don't have info on Crusader. But just for arguement, how will you know whether Crusader got a fair deal in the merger? What is the pedigree of the companies that they acquired/merged with? What was the state of their books? I can go on and on. Crusader raised funds and also went ahead to acquire some insurance companies. Right now, information is scanty on the insurance companies. What they are not revealing may be more than what they are revealing. Info on Lassaco also is scanty.

WEMA is risky but I took the risk a long time ago!!!!! Bought in January, locked in some profit and will ride the tide.

What do you mean by rate of return being moderate barely three years ago Flour Mills was 12.50!!! They gave a bonus 1 for 3 last year. Check out 7-UP some years ago. Maybe I need to check your definition of moderate.

Not that much info on Cadury in the public domain. I however heard that they are doing a restructuring. Fresh people employed into teh top positions. Things will likely start to move up. I will however like to see the YE 2006 result to know how bad the situation actually is.

NBC is also turning the corner so should do well.

Fact is the bullish run has made people to expect 'unrealistic' returns. Of course this is not sustainable. The bearish market is making people to know that.

FYI, the banks were not the ones with the highest returns until the consolidation. With the HUGE oustanding shares, itr will be a big challenge for them to sustain the earnings. The Beverages use to be the leader until the GSM came. Most have restrategised now so expect BIG from them going forward. They are now getting connected to gas thus reducing their operating cost.

JaPaul is not looking as good as Dangote Flour!!!!

easimoni:
I vote Crusader in spite of the merger gist. the growth rate is phenomenal.

I love your guts.

Until how much shares is Crusader issuing for the insurance companies they acquire? Any info?

yodiyokun:
Wanaj0,

OK so Banks are not looking attractive, what else is out there? Let us know your thoughts - Because I am still ruminating on what instructions to give my broker today.

I am seriously looking at crusader ,law & union and wema - let me have your suggestions for /or against.

I think Wema is still O.K though, if you are ready to wait for 1 year be4 you see any appreciable gain.

You forgot that there is another option, keep your money for now.

WEMA is very risk so you must have a big heart to go for it.

Flour Mills is looking good.

NBC (not check today's price) is also not bad for the long term. Just experiencing a turn around.

Nigerian German still looking attractive.

For now, I am staying clear of insurance stocks. There are many behind the scenes going on. For me, the risk is just too much. When all info becomes available (oustanding shares especially), then I can join the train.

I see the food and beverages sector doing well next year.

Temmie10:
@Kenjo
even though i am not a big fan, i'll go with Dangote Flour ahead of nahco.

@all
Those that wanted to take positions in fundamentally sound zeniths, gtbs, mbenefits etc, Hope you are watching the market now,
Prices are looking more attractive everyday

NAHCO is over valued!!!!! Don't see how they will be able to satisfy shareholders. The only attraction is the small quantity of outstanding shares. This will surely drive the price up with people looking forward to a repeat of the N5.00 to N70.00 capital appreciation of even the 3 for 2 bonus.

For me, one should take a break from the banks now. Apart from Oceanic, very few of them really looks attarctive.

frankiriri:
In this kind of market it is best to look to other sources to repay your loan so you are not under pressure to sell your stocks. So I will advice you to work out a repayment plan that will liquidate the loan irrespective of what the market is doing.

Good advice. Hopefully his cashflow can accommodate that.

Also, he need to pick good and liquid stock or else he will get his fingers burnt.

shigidi:
easiiiiiiiiiiiimoniiiiiiiiii, i don miss u oooooo!!!!!!!! you should be banned from any further holidays.
@ wanajo, i remember u saying earlier that nigerian german is not a liquid stock which means it only responds to fundamentals,does that mean there wont be any significant price change till january?? and how do u know liquid and non liquid stocks i feel that is good knowledge so one knows when to jump into stocks instead of tieing money down.
once again, oga easi welcome back

Don't know what the price will be like in January 2008.

I am not a trader so I tend to take a long term outlook of any stock.

On Nigerian German, it was about 4.00 in June 2006. It has a consistent dividend payment history. The business is growing and they are diversifying. Even though they are listed under Chemicals and paints, they are more of an healthcare/consumer goods company. They are now oil field services. That is a goldmine especially once the crisis in the Niger Delta subside.

Now, they've not given a bonus for almost 5 years so I guess time is right for one now. Also, they've not raised moeny from the capital market though there is plan to raise money via bond issue before the end of the year.

Bought some just last month at 12.85. For me, the EPS is good. The board is stable. Shonekan has the majority share in th company. It is not liquid because the float is small. I mean except Shonekan decides to sell his own shares, the number of shareholders are small and the units available is also limited. Good thing also is that in a bearish market, NGC will hardly be affected. So it is a stable growth stock for me.

The downside is that NGC is also being used to prop up UNIC. NGC owns substantial shares in UNIC. Shonekan (Volker Securities) also own susbtantial shares in UNIC. I am not so comfortable with such arrangement. However, Shonekan like Onosode seems to abide with good corporate governance principles.

V.C.2007:
Whichever way one looks at it, the truth remains that those who make a killing in this market are those who have BIG hearts and are not jittery. 'HOLD' is a very rewarding word in the stock market
Selling at a loss rarely makes sense unless you are in urgent need of that cash. Just some lesson I've learnt, sha

HOLD is good when it is based on sound reasoning.

Why should anyone be holding to the petroleum marketing stock? For how long are you going to hold?

Oando did a PO/Rights in 2004 and the price has being dropping since then. It will make sense holding if there is potential for growth in the sector. Watch the interim result and you will see declinig returns. Margins are shrinking. Failure to deregulate is affcting them. The higher the crude oil price, teh lower the margins for them under the current scenario. With crude oil now in the $80/bbl range things are not looking good for them. For me, Total, Oando, Conoil etc should be avoided like a plague.

For me, I SELL once there is a shift in the underlying assumptions. Or else, you will continue to HOLD till you have a worthless stock. Some people are still HOLDing on to Onwuka Inter Biz, Savanna etc.

Unfortunately, most people BUY based on the herd mentality so will also have to SELL based on the same mentality. Many few people actually know what they are doing neither are they willing to learn. They all are interested in making money.

Like someone said, when every Tom, Dick and Harry is buying a stock, that is the time to sell!!!! Can't understand why some people bought Lassaco, Mutual Benefits and co at the prices that they were bought.

For those ALWASY listening to brokers, note that gain or loss, your broker will still benefit. It is your money hence get the required education. Don't allow any broker to make you lose your money.

At least, the current bearish market is providing a reality check on people. The stock market is not a gamblers den. Sorry, people are learning this the hard way.

On a lighter note, don't lose faith.

shigidi:
@ wanajo, i ask the same question, is it WEMA BANK or DIAMOND BANK.
please holla

Wema too me has more upside than Diamond. Wema has a lot of potential waiting to be tapped if they can get their strategy and direction right. Loyal customers etc. At least I see Wema going to 15.00 (almost 50%) while it will be hard for Diamond to hit 27.00 (50%) based on current earnings.

tonmax:
@all
Who has any advice on Sterling Bank and Wema bank, cornerstone/
Seems sterling will come out with an IPO soon!
Is the time right to buy Wema?
Corner stone anyone

If you can and willing to take risk then WEMA has a lot of potential. It is however meant for the risk takers. If things go as xpected, there is a lot of upside. However, things can move in the opposite direction. So be sure that it fits into your risk profile.

samstone4:
Attn All:

Transcorp gained maximum today, Friday 21, in heavy trading.
Has it bottomed out?
Have the long term investors pounced?

samstone4

No!!! Transcorp did not gain maximum today. It gained 4 kobo. It is a sign that it is about to bottom out and stabilise. From there, it will start to move up if there are juicy news released into the market.

Tmoni:
@ the gurus,
i finally sent the buy order and my broker is asking why do u want to buy WEMA BANK, shes never questioned my order before,

food for thought

Answer now!!!!! Speculative purposes I guess!!! Turn the question around and ask your Broker why not??

WEMA is so risky but if the permutations are right, you may be on to a goldmine.


With all due respect, some brokers (account officers) are just clueless!!!!!!

I know I broker that I prepare BUY list to send to her clients!!!!

shigidi:
thank you all for your replies. i purchased my shares from UBA. afribank registrars is on keffi street ikoyi, i might get there soon. any other info will be greatly appreciated

Afribank Registrar has moved to Gbagada.

yodiyokun:
http://www.proshareng.com/myproshare/portal_news.php?id=2906

Flour mills released their 1st quarter result.

The turnover was up 20% but PBT was down 1.2 % , what is going on?

Anyone has an idea, on why their expenses increased so much that compared to last year 1st Quarter.

This is not a impressive result at all - Instead of growing earnings, they are growing cost !!

Wanaj0, Please shed some light on this because It seems Flour mills is one of your favorites - abi?

My understanding was that the disruption of gas supply around April/May increased the expenses. That means that they had to revert back to the use of diesel which is more expensive.

Flour Mills is still my favourite. Waiting for the price to drop more so that I can buy. BAGCO is the major money spinner for them.

forexgiude:
Acen was not part of the merger. Only NEM and Vigilante merged.

---

@ WANAJO


WHERE DID YOU GET THE INFO THAT ONLY NEM AND VIGILANTE MERGED?

THE VIGILANTE SHARES WERE ONLY ADDED TO THAT OF NEM BECAUSE OFCOURSE NEM IS THE RESULTANT COMPANY OR THE MERGER, THIS DOES NOT MEAN THEY ARE THE ONLY MERGERS ,

PLEASE TAKE A LOOK AT THIS:
http://www.sec.gov.ng/newmergers.htm

(ISSUING HOUSES) :BGL Securities Ltd, Core Trust and Investment Ltd, Independent Securities Ltd.

(COMPANIES INVOLVED): NEM Insurance Plc, Vigilant Insurance Company Ltd, ACEN Insurance Company Ltd

(PROCESSING STAGE): Formal Approval Granted

(RESULTANT COMPANY): NEM Insurance Plc

(DATE): 13/07/06

THE ABOVE IS FROM FROM SEC WEBSITE,

SO WANAJO UNLESS YOU HAVE ANOTHER INFO FROM SOMEWHERE ELSE & IF DATS THE CASE PLEASE SHARE YOUR SOURCE

NEM, Vigilant and Acen had a merger agreement. At the end of the day only NEM and Vigilant went together. My sources is teh new NEM. They are integrating Vigilante into their operations. As at now, no association with ACEN.

Just like the bank mergers, not all the proposals sailed through!

akininNC:
Just checked Nigerian Bottling website. They are proposing a 1:2 bonus issue. NICE!!!!!!!!!

For which year? That cannot be true!!!!!!!!! Cehck your facts very well!!!

shigidi:
@ wanajo, please do u have any info about boc gases and university press limited they seem to have low pes.
and what is your forecast on beta glass?
reply will be much appreciated.
thanks

Well, depending on your definition of low PE.

BOC was facing serious competition hence decline in profitability. However, they're consistent in paying dividends/bonus. From the interim result, they seem to be doing far better this current financial year. The year end is September and the result should be out next year January/February.

ON UPL, good stock. Not liquid. Flunctuating results depending on government intervention in education. They got huge contract from ETF at a point. Steady growth is expected. The rights issue may have distorted the EPS and PE a bit. Fundamentally sound company though.

I hope people just know how useless most of the offers are. Even with the ambitious profit forecast, can't see the attraction. Most are getting carried away that any offer/placement will always turnout good. It was not like that before in Nigeria and it will not continue to be like that. Before, after an offer, prices actually come down because of the increase in outstanding share.

The margin facility being granted by banks is distorting the market. The pension funds with the dearth of where to invest is also distorting the market. The reality is that SOON things will shape up. All those buying 'useless' stocks will surely get their fingers burnt. Then people will know that you don't forever have a BULLISH run!!!!!

forexgiude:
as for insurance:

i would list nem, crusader, prestige.

about acen:

merger between: nem + acen insur + vigilant insur= resultant company nem insurance

nem insurance ,which is my number 1 pick on the insurance stock to buy .

Acen was not part of the merger. Only NEM and Vigilante merged.

Though the (new) NEM quarterly result was impressive. I will be wary until all figures as per success of the rights issue, share exchange for Vigilante is out.

For now, the information available on insurance companies are so scanty and unreliable that it is difficult to make reasonable deductions.

RoughCut:
nah Frankriri i don't think that`s right though. Should the trailing PE not be the PE for 2007 or are you making reference to forward PE in which case it would be for 2008? From what i have seen the DPS does not seem to correlate with the EPS or ami talking gibberish here? Someone needs to have a look again at the prospectus

There is an error in the 2007 PE figure contained in the propsectus. The EPS for 2007 was was right but the PE was wrong. Material error if you ask me.

bibiking1:
hi guys, i must really state here you all have influenced my financial habits positively. I bought Acen Insurance stocks yesterday, i would like to know if i did the right thing its not too late to amend my ways

Are you sure that Accen met the consolidation criteria? I know that their merger with NEM collapsed!!!!

frankiriri:
I have not had time to really gothru it but it appears to be ok. I like the fact that their 2007 PE is below ten and their trailing PE is about 11.

That was definetly an error!!!!

The offer is not attractive at least in the short term. It is clearly over valued. The only attraction is that the shares on offer are quite small (120m units). That means the scarcity of the shares will persist. Dangote flour looks more attractive.

Let's wait for Japual's prospectus to pick the best out of the lot!!!!

With this new propsectus, Access Bank is looking like a bargain.

With everyone coming to the market now, it is pretty obvious that the market is over valued hence the rush by everyone to partake. A correction is definitely in sight. At the very least, expect a modest rise in index for 2008!

Temmie10:
@samstone4
Trust me, i am not anti-transcorp at all, i dun love companies and i dun hate them. Peformance is all i care about.

Since you bought private placement, you are at an advantage. Most Nigerians bought at a much higher price.
Besides, i am sure CocaCola had a much better corporate governance than Transcorp

And on buying more shares if it drops, i would be happy to consider buying shares of any company that is grossly undervalued. Transcorp, my friend is not yet undervalued, not at this time.
If that money was used to buy an insurance po last september, we'r talking at least 500%, if it was a banking stock a la fidelity, intercontinental,wema, ibtc, afribank, fcmb etc, you'd still have made at least 400%. Why tie your money down unnecessarily?

The duration of the time when your money was locked in Transcorp, you could have invested the money elsewhere, multiplied it many times and still come back to buy many more units of Transcorp even cheaper when you so decide.
You can be a your own billionaire not necessarily a Transcorp billionaire.

@Akin
Wema is a buy, 10 naira is still a very good price

Ask yopurself who are those selling Transcorp now? Did they make a loss?

Remember, some people bought the private placement at N1.00. Others at N6.00. They've benefitted from a stock split. Those are the ones selling at huge profit. For those that bought the IPO, that was a rip off!!!!!!!! They cannot sell now. They will have to hold on.

That said, Transcorp has a lot of value. They've faced a lot of challenges. For me, I think the worst is over for them. If it dare drop to 3.00, I will swoop on it!!!!

nossycheek:
I learnt that Dangote Flour mills PO is actually a bondle offer of the flour mills and pasta. And that the main flour mills is not doing so well. Does it still make a good buy?

You need to see the prospectus so as to make a good judgement. Most Flour Mills have subsidiaries. Dangote flour mills will have the sack (bag) company and the pasta company as part of the subsidiaries.

Cour flour milling is faced with serious competition hence reduced margins. This is not peculiar with Dangote alone. Also, growth in Dangote flour mills in terms of turnover and profit seems to have slowed down. There is however news of expansion.

Whatever happens, the quantity available (500m units) to small investors is damn too small that I will really not bother my head about it.

nossycheek:
@Wanaj0

Thanks for your response. I thought that the address gets to the registrars through CSCS? If not, how do I go about that.
As for the name issue. It is not a change per se. I initially indicated Mr & Mrs which I want to remove since my husband operates
a seperate account and will require me to send a letter to my broker to ensure that the cheque does not carry Mr & Mrs for every
sales made, otherwise, I can't pay the cheque into my personal account

For all intent and purposes, the address with the registrars is what is important. Write to the registrars requesting for a change of address from the old address to the new one. If you know your account number with the registrar it may help.

As per changing from a 'joint' account to an 'individual' account, it is not that easy! I suggest you maintain it as it is.

easimoni:
When WAPCO was coming out of debt last year, it was THE champion. I bought at N18, sold at N70. Bought back in at N65 (in April) and I've been sulking since. It's a solid company but seems to be facing pedestrian profit growth due to increased competition and power concerns (the MD was in the news saying NEPA cost them ~N1B in profits over the 1st 6 months).

It has good value and shouldn't fall far but I think it's days of being a champion are behind it, even if they solve the power problems.

WAPCO did a right at less than 10.00 about 2 years ago and went as high as 80.00. Only NAHCO and to some extent BCC has had such crazy returns within that time frame.

As per those that bought when it was high, too bad.

Fundamentals still support WAPCO doing well going forward. Price drop was due to the poor dividend policy. Well, they wanted to pay off some debt. As usual, the shareholders expected a bonus which the company did not give hence the company was punished for it.

They do have problems with energy (not necessarily power) due to the gas supply disruptions. This affected turnover.

The upside for WAPCO is that the plants were just refurbished, they have restructured their debts, they are on a cheap source of energy (gas) and they have a good management. They are the only company in the sector that is not witnessing a drop in profit. The PE also look attractive. I will wait till November to buy anyway.

nossycheek:
@Wanaj0 & co

I have about 700k to buy shares but I don't know the ones to buy. Do I buy Dangote PO, Japaul etc. I am really confused.

Secondly, I have been trying to change the name on my cscs account as well as make correction on my postal address through my broker for a year without success. How do I go about this?

On your first question, it depend on your personality and your investment objective.

Yet to see the full details of the Dangote flour PO. Got something from BGL but I am not so impressed. 15.00 looks expensive based on what I saw but will wait for the FULL prospectus. However, the hype will help the offer. Also only 40% of the 1.25bn shares is available for the masses. 60% will be preferentially alloted. I expect an oversubcription. Don't buy more than 30,000 units if you don't want your money returned. You should also be willing to wait for certificate and verification wahala.

I am not a trader so I tend to take long term positions. Nigerian German is good for me. Flour Mills is solid. WAPCO is also attractive. WEMA is risky but if expectations are met you will get a good return. NBC is also looking attractive. Same for Longman. To maximise your profit, avoid overdiversification. That is the bane of many people.

As per changing your address in CSCS, I never really bothered. CSCS does not send an info to the mailing address to start with. It is your address with the registrars that is most important.

For your name, you will need an affidavit and necessary document. Your broker should be able to do this for you,

Temmie10:
Wapco is like the classic value stock, its had good indicators all year but it has remained at the same level,
its a good stock but by no means, short term

Check where WAPCo was some 24 months ago and you will appreciate how much it has moved. Yes it rose to 80.00 level this year because of bonus expectation. Now it is fairly valued. Compared with its peers it is relatively cheap.

stanchuks:
@Wanaj0
Please whats your stack on May & Baker, the stock keeps on going up and down, i bought last month at 12.20, is it right to still hold on to it?

You bought just last month so nothing to worry about!!!!!

12.20 is a bit expensive for May and Baker. To reap teh benefits, expect to be in for about 2 years. By then, they will be making profit from the Bio Vaccine plant.

If you are a short term player, you better exit. But if you are really an investor, then May and Baker is a good stock to hold!