Quote:
Originally Posted by nazzyon
Proshare News
When are they going to start trading on the last PO?
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The 3rd quarter results of Bank PHB are good but the market does not think so. I think this is a good time to buy it. I believe also with a June year end they mind end of having to close the year with 18 months in December 2008. This will surely boost the price later in the year.
If the current trend continues, Bank PHB will close the year in June with N20 billion PAT. This does not even take into account the impact of the new funds from the public offer. Currently the shares outstanding is 8 billion, if we assume full subscription plus 200% oversubscription as speculated, the total outstanding will be about 15.5 billion (8+5+2.5). The EPS will be about N1.3 but this is for 12 months. It will be roughly N2 for 18 months. At the current N29 price that will be a PE of 14.5 which is great.
I will definetely buy PHB now. I wont wait until the new shares are listed. It is extremely difficult to predict the short term direction of stock prices. So now that the price is still below N30 it is time to buy. I dont see it going below N28. So why wait?
I will definetely take a position on PHB by exiting GTB once the results of GTB are released.