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  #1 (permalink)  
Old 29th April 2008, 02:45 AM
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Thumbs up Ecobank Transnational plc (ETI)

" ETI reduces nominal share value, to offer 1 for 5 bonus" .........BUSINESSDAY, Monday, April 28, 2008.

I understand that the bank would be reducing the nominal value of its shares and would in effect increase the holdings of current shareholders by a factor of 6!

I have some questions which I hope the senior members of this group can assist in providing necessary answers.

(1) Despite the initial dilution, with attendant increase in liquidity, any significant scope for recharging and to what (approximate) value?

(2) If it is a good deal, is it too late to get in now and qualify - when will the books be closed?.

Grateful for further clarity.
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Old 29th April 2008, 05:21 AM
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Thumbs up Eti Is Good

it is a good buy now, if you consider the total number of shares, which is over 1 billion shares and the same time their investment sphere cut across west african countries
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Old 29th April 2008, 08:16 AM
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Quote:
Originally Posted by nwoyearoh View Post
" ETI reduces nominal share value, to offer 1 for 5 bonus" .........BUSINESSDAY, Monday, April 28, 2008.

I understand that the bank would be reducing the nominal value of its shares and would in effect increase the holdings of current shareholders by a factor of 6!

I have some questions which I hope the senior members of this group can assist in providing necessary answers.

(1) Despite the initial dilution, with attendant increase in liquidity, any significant scope for recharging and to what (approximate) value?

(2) If it is a good deal, is it too late to get in now and qualify - when will the books be closed?.

Grateful for further clarity.
I think it is just a bookeeping exercise, a reverse share consolidation that some Nigerian banks have embarked upon. In the main, it is like a reverse form of Naira re-basement that CBN planned to embark upon some months ago which the Finance Minister described as cosmetic surgery that does not affect fundamentals of the economy.

However, such cosmetic surgery exercises can have some psychological effects and it can also have signalling effect of the new disposition of the administarators of the economy (or, in the present case, of the company management). For the pschological reasons, the share price may receive a short-term boost. As such boosts are not sustainable, I think only smart short-term speculators can benefit from the exercise because, sooner or later, water must find its own level.
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Old 2nd May 2008, 08:19 PM
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Quote:
Originally Posted by riskreturn View Post
I think it is just a bookeeping exercise, a reverse share consolidation that some Nigerian banks have embarked upon. In the main, it is like a reverse form of Naira re-basement that CBN planned to embark upon some months ago which the Finance Minister described as cosmetic surgery that does not affect fundamentals of the economy.

However, such cosmetic surgery exercises can have some psychological effects and it can also have signalling effect of the new disposition of the administarators of the economy (or, in the present case, of the company management). For the pschological reasons, the share price may receive a short-term boost. As such boosts are not sustainable, I think only smart short-term speculators can benefit from the exercise because, sooner or later, water must find its own level.
Subsequent to the bonus adjustment, the maximum level of rebound is a bit difficult to ascertain and that is the biggest challenge here. No other stocks to benchmark it against. We know little about how their business success in the west african sub region will impact on its stock on the NSE. Going by the little l know about their Nigerian business wing (Ecobank Nigeria), they are not an aggressive bank though l am considering taking the risk of buying but my mind is not made up yet.
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Old 6th May 2008, 12:08 PM
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Default Close of Register Date for ETI Please!!!

Quote:
Originally Posted by tonidol View Post
Subsequent to the bonus adjustment, the maximum level of rebound is a bit difficult to ascertain and that is the biggest challenge here. No other stocks to benchmark it against. We know little about how their business success in the west african sub region will impact on its stock on the NSE. Going by the little l know about their Nigerian business wing (Ecobank Nigeria), they are not an aggressive bank though l am considering taking the risk of buying but my mind is not made up yet.
Anyone with the closure of Register date for 5 for 1 bonus of ETI?
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Old 6th May 2008, 01:37 PM
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Quote:
Originally Posted by tonidol View Post
Anyone with the closure of Register date for 5 for 1 bonus of ETI?
This is not a bonus na. It is a reverse stock split.
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Old 6th May 2008, 01:49 PM
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Quote:
Originally Posted by pumping View Post
This is not a bonus na. It is a reverse stock split.
That is fine. They can use any grammer they like. Do you know the cut off date for the split. I strongly speculate that the stock will definitely rally back though it may not reach the present N250 for some time to come but will still be profitable in the long run. This is my own opinion.

Guys, what do you feel? l intend given a buy mandate for tomorrow.
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Old 8th May 2008, 09:15 AM
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Quote:
Originally Posted by tonidol View Post
That is fine. They can use any grammer they like. Do you know the cut off date for the split. I strongly speculate that the stock will definitely rally back though it may not reach the present N250 for some time to come but will still be profitable in the long run. This is my own opinion.

Guys, what do you feel? l intend given a buy mandate for tomorrow.
Still expecting responses please!!!
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Old 8th May 2008, 12:44 PM
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Quote:
Originally Posted by tonidol View Post
Still expecting responses please!!!

ETI looks like a solid bank, I just prefer some other banks currently - SKYE, Diamond UBA...even Zenith looks like a good bargain with the release of their results 2 days ago.
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Old 8th May 2008, 01:59 PM
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Quote:
Originally Posted by hispy99 View Post
ETI looks like a solid bank, I just prefer some other banks currently - SKYE, Diamond UBA...even Zenith looks like a good bargain with the release of their results 2 days ago.
Guys, does anyone know cut off date for this 5 for 1 bonus or 5 for 1 split please
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Old 8th May 2008, 08:04 PM
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Quote:
Originally Posted by tonidol View Post
Guys, does anyone know cut off date for this 5 for 1 bonus or 5 for 1 split please

Guys, still expecting responses please!!!
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Old 12th May 2008, 11:59 AM
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Quote:
Originally Posted by tonidol View Post
Guys, still expecting responses please!!!
Anyone very sure of the cut off date for the ETI stock split or 5 for 1 please?
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Old 12th May 2008, 01:26 PM
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The closure date for dividend as reported on www.cscsnigerialtd.com - The Clearing House of The Nigerian Stock Exchange is 16 May. It doesnt say what the closure date for the bonus is.

Last edited by en_y; 12th May 2008 at 01:29 PM.
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Old 12th May 2008, 04:19 PM
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The closure date for dividend as reported on www.cscsnigerialtd.com - The Clearing House of The Nigerian Stock Exchange is 16 May. It doesnt say what the closure date for the bonus is.

This should also be the closure date for the stock split..or is it possible to have different closure dates for dividend and split?
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Old 12th May 2008, 06:06 PM
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Quote:
Originally Posted by hispy99 View Post
This should also be the closure date for the stock split..or is it possible to have different closure dates for dividend and split?
Thanks my guys. I also picked up May 16 for dividend somewhere and wasn't sure if there was a different date for the split. I think l will just stay by 16 May. I even tried calling ESL securities (which is part of their group l believe) but it seems the lines never get picked up. Anyway, thanks.
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Old 20th May 2008, 04:03 AM
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Q & A with CEO Ecobank Transnational Inc Plc (you may need to log-in to read the interview)

Proshare Nigeria - Sign In to Proshare
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Old 20th May 2008, 01:34 PM
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Quote:
Originally Posted by hispy99 View Post
Q & A with CEO Ecobank Transnational Inc Plc (you may need to log-in to read the interview)

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Thanks Hispy99. I read it on proshare already. I took position for the long term before the 16 May close of Register.

Can you imagine that ETI appreciated by over N10 yesterday despite the fact the register closed last week friday?

At times , dis our market dey shame convention. Guys, what could be responsible?
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Old 28th May 2008, 07:29 PM
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Anyone with reliable info on when the ETI stock split will be effected?
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Old 30th May 2008, 01:50 PM
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Ecobank Transnational
Proposed Bonus Issue 5 For 1
Share Split Closure Of Register June 2-4 2008
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Old 3rd June 2008, 12:14 PM
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Default Crying

Why didn't i buy ETI. I feel like crying oooooh
Some calculation. It closed at 230 but today the price would close at 48.3
48.3*6= 290. I bet you it will go all the way to 55.
That would have been an easy 40% in these hard times.
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