Diamond Bank Private Placement

[ikechu]

I learnt that diamond bank is going into the market to raise their share capital @ 7.50 per share through private placement.

1. what is the menaing or essence of private placement and can we as individual investors particpate.
2. what is the minimum number of shares that we can subscribe to and what is the closing date for subscription to the shares.

paragon and other memebers should please dissect this issue for we that are still leanring the ropes in the nigerian stock market

[paragon]

a private placement means that the shares will only be available to a selected group of individuals and not the entire public.As such you and i may not be able to participate in it.

[jamat20044]

Yes, but when is the private placement closing and when will the technical suspension on Diamond Bank shares' price be lifted? Kindly give insight. Also, does anyone know when the technical suspension on Oceanic Bank will be lifted (i. e. how long after the closure of their current public offer)?

[c kenneths]

Jamat20044, I learnt that the least money you can spend to get the private placement is 750,000.00. So if you have this amount and a lot of inside connection, kindly proceed to the head office of the bank and make further enquiries.

[dotunk]

the technical supension recently was pegged at 2weeks post closure of an offer.

in the past, it usually takes for ever before it is lifted.

the NSE modified this trend about 6months ago.

so we should expect that oceanic's suspension will be lifted soon.

[Avocado]

c kenneths: do you know if the Diamond Bank Private placement is still on?

.

[paragon]

yeah, it is

[c kenneths]

As at last mobth I asked, they said it is.

[alanbow]

Hi C kenneths and Paragon,

I know this question was ask just over a week ago, but do you know if the PP is still on.

One of my guys spoke to a friend who works at the bank and was told there has been over subscription and it has been suspended , but my stockbroker was not even aware it has ever been on.

Any firm confirmation will be most appreciated.

[eriksbmw]

Hi !

Who is your stockbroker ?....this is an example of what we've stated here numerous times....simply that in most cases we may have better info/understanding than our brokers and most certainly you have !

Does your broker have a research and analysis unit ?

Everyone knows that Diamond Bank shares are currently like a blue moon.....maybe you can do a cross trade if you're lucky and for this you'll roll your dice and come up with a 6......10 times !

Just my 2 kobo!........oops! does the kobo still exist ?

[Avocado]

There!

When I mentioned this to my stockbroker, they didn't know Diamond had a private placement. When I said it was for a quarter of a million minimum, I heard someone say "... aaah... that is very affordable..." Of course, then I knew I'm not getting any action until they're happy; which means I'm not getting any action at all....

.

[alanbow]

any news ?