Technical Suspension on Afribank, Diamond & Oceanic Banks

[jamat20044]

What is happening with Afribank? When is this bank going to be in the market and what is causing the delay? When will the technical suspension on it be lifted?

Also, does anyone know why Diamond bank is on technical suspension and when is the suspension going to be lifted (approximate date please)?

I would also want to know how long, after the closure of their current public offer, will the technical suspension on Oceanic bank be lifted?.

And, generally, how long does it take for technical suspension to be lifted on a company after the closure of their IPO/PO?.

Stockbear and other gurus should kindly address these questions.

[Stockbear]

@ jamat20044 - Go through the various threads you will find the answers you require like C Kenneths have provided.

c kenneths
Diamond bank is currently rounding off a 2.2billion units placement with Actis, a foreign investment company, while Afribanks protracted technical suspension was explaind to be imposed by regulatory authorities as a result of unresolved shareholding misunderstandings.
Oceanic bank will definitely lift their technical suspension two weeks after this ongoing offer.

[Tunde]

I have similar questions especially on Diamond bank. I am suprised it takes so long to admit a foreign institutional investor

[c kenneths]

The effects of all this waiting before a technical suspension is lifted is causing the shares to be very scarce. But I thought stocks like oceanic that have certainly gone two weeks clear of their PO should have their technical suspension lifted.

Any takers?

[eriksbmw]

Not too sure about this info...... but...... i heard Oceanic will be lifted on Friday.

[c kenneths]

Thanks pal, I just want to know when our grand roller coaster of price rallies will start, your seatbelts please !

[dotunk]

Hi all,

In fact i was going to ask when Oceanic Bank price will be lifted cos as i dey count the thing, 2 weeks don pass after the conclusion of their offer as stipulated by the NSE.

So when is it going to be lifted cos "MONEY HAS TO BE MADE" before, during or after.

If the suspension will be lifted soon (Friday... as speculated by C kenneths), then i had better inform my broker apprpriately.

Thanks all.

[c kenneths]

This situation is getting serious by the day, it seems NSE don't even care untill the whole stocks in the banking sector goes on technical suspension.

This is also affecting availability of these stocks.

[RemzyJ]

I don't understand why stocks have to be on suspension when they do a rights issue or private placement.

I think stocks should only be suspended when it is uncertain that the money can be rasied.

[dotunk]

RemzyJ

prices are put on technical suspension when they are coming to the market to protect the investor from sudden cahnges in the price.

for instance, if the price were still moving during an offer, the price may go too low that the offer may flop.