Quote:
Originally Posted by Leaders
A dud texted and proomised to do a direct transfer (CSCS)of IAAA shares for me at N1.75k. is this a good offer  |
Let me put it this way, if the coy makes a PAT of N1B, (which I doubt very much) you are looking @ a PE of 50 at N1.75.
If you are buying for the long term, there are definitely better Insurance companies out there. If you are in for the short term, I do not know, but I guess it depends on the price they list. If they list @ N1.30 as suggested in an earlier post, then it will take about 7 days for the price to reach your N1.75. With the current bearish market and the 28 billion shares to be listed, do you think IAA can rise for 6-7 consecutive days? The closer the list price is to N1.75, the better your chances, the further away it is from N1.75....
I also hope you know that the original PP was done @ N0.85 or was it N0.95 for N2 par value. So people that bought at PP price are getting 4 shares for N0.85, meaning what you are paying N1.75 for, they paid roughly N0.22 or so. So imagine the selling pressure that will be unleashed when the company's shares are listed