Equtiorial Trust Bank: Private Placement???

[pumping]

I received information that ETB will be doing private placement this November.
Minimum subscription, 5 Million Naira.
Has anyone else heard about this....?? I'm trying to validate this from other sources within the bank and gather more details to know how viable it is.

Enjoy.

Pumping

[MR. CEE]

Originally Posted by pumping

I received information that ETB will be doing private placement this November.
Minimum subscription, 5 Million Naira.
Has anyone else heard about this....?? I'm trying to validate this from other sources within the bank and gather more details to know how viable it is.

Enjoy.

Pumping

This is where Investment club might be useful people with like minds will come up with that money by contributions and invest.

[olusolakemmy]

ETB?????????
That will be an interestng one.
well its not design for the poor and even middle class.
unlike the diamond that with 750k, you get 100000unit, well, PP is one of the numerous means the rich use to expand the gap!!!!!!!!

[chymex]

Any info on if they (ETB) plan to be listed on NSE?

[ugovictoria]

I had heard the same info abt the PP. I have always told my clients that although PP is not an all comers affair, there is always a way to break in to the echelon. What i do is if the minimum value runs into Millions (as is being touted abt ETB); i gather money from willing people and buy in a single name. When the certificate comes out, as all of them have their CSCS accounts domiciled in my house, i transfer each persons corresponding units to their respective accounts, while individuals bear their related Transfer chrges which is nothing to write home about. Try this, may be it might work for you

[ugovictoria]

Well, naturally, after PP, the next big step is to get listed. Getting listed is becoming attractive these days, as that is the only means these Companies have access to cheap funds without stress, however, the longer a Company takes before it gets listed, the more beneficial to its shareholders, as the EPS and DPS will be worthwhile, and Scrip issues(Bonuses) are more likely to flow before allowing the public to come feast on the stock. I cant say the ETB Excahnge listing is immininent, but if they have Private Placement in mind, then the listing might be up to the Second quarter of next year

[c kenneths]

Everyone seems interested in this PP and will want to take part, but what are their fundamentals. Are there anyway to judge their resuls or what it may likely look like. Who owns it and how many branches do they have.

I will like to know these before deciding to buy or not and what is the unit price like.

[crtide]

Originally Posted by c kenneths

Everyone seems interested in this PP and will want to take part, but what are their fundamentals. Are there anyway to judge their resuls or what it may likely look like. Who owns it and how many branches do they have.

I will like to know these before deciding to buy or not and what is the unit price like.

You can find some information on the websie, though very little

[chymex]

The bank is owned by Mike Adenuga, but I heard that IBB has a substantial interest in it too.

[obinnaD]

ETB is wholly owned by Mike Adenuga. I want to resume he's trying to tow the line of Dangote viz listing his companies in the stock exchange and making mega billions dollars from their stock price appreciation.

[alanbow]

Originally Posted by c kenneths

Everyone seems interested in this PP and will want to take part, but what are their fundamentals. Are there anyway to judge their resuls or what it may likely look like. Who owns it and how many branches do they have.

I will like to know these before deciding to buy or not and what is the unit price like.

I have tried to see if i can get information on the bank since I saw the PP news, not a lot available. The link to thier five year financial statement does not work on the website but the link below contains very minimal financial highlight.

I am going to be sending a note to the customer service soon if I can get some additional information. If I do, I will share.

:: Equitorial Trust Bank Limited - Partnership that works

[MR. CEE]

Originally Posted by ugovictoria

I had heard the same info abt the PP. I have always told my clients that although PP is not an all comers affair, there is always a way to break in to the echelon. What i do is if the minimum value runs into Millions (as is being touted abt ETB); i gather money from willing people and buy in a single name. When the certificate comes out, as all of them have their CSCS accounts domiciled in my house, i transfer each persons corresponding units to their respective accounts, while individuals bear their related Transfer chrges which is nothing to write home about. Try this, may be it might work for you

Ugo, ur idea is very good this is where the question of trust comes in I am not trying to cruxify you but you know some people will collect the money and sit on it without properly accounting for it like me I am not currently resident in Nigeria but I will be interested in the pp I don't have cscs account yet but I am planning to open one you can help in that direction...that will be the first move.

[Opomulero]

But how do you share the units on the certificate between the different CSCS accounts when the company's not even quoted? CSCS "clears" shares sold on the NSE exclusively; you can't use the same approach with an unlisted company!

[hispy99]

Originally Posted by Opomulero

But how do you share the units on the certificate between the different CSCS accounts when the company's not even quoted? CSCS "clears" shares sold on the NSE exclusively; you can't use the same approach with an unlisted company!

I think the assumption here is that the "sharing" is done after the company, in this case, ETB, gets listed on the NSE

[MR. CEE]

Guys Is there any reliable News on ETB PP on the other forum I read someone wanted to dispose the stock he had for ETB Private Placement. Need more contribution...

[pumping]

Originally Posted by MR. CEE

Guys Is there any reliable News on ETB PP on the other forum I read someone wanted to dispose the stock he had for ETB Private Placement. Need more contribution...

Somebody already bought....?

[olusolakemmy]

i spoke with a staff of etb and she is totally unaware of such pp, she is a top staff and i guess she shld know, although staff sometimes might not be aware of such plans.
but after a vigorous research, no info is coming up, anyway, let keep our fingers cross

[pumping]

Originally Posted by olusolakemmy

i spoke with a staff of etb and she is totally unaware of such pp, she is a top staff and i guess she shld know, although staff sometimes might not be aware of such plans.
but after a vigorous research, no info is coming up, anyway, let keep our fingers cross

It could be the case that it is a rumour.

Although the person that told me is a senior manager in ETB. I did not ask him about this and he still maintains it is happening in November.

I am fairly confident that if this happens I will know about it. If not, the boy yab.

[Ehis]

The fact remains that something may be cooking. I learn sometime in Aug that there was a bid for ETB by FIRSTBANK, ZENITH and one other bank. I got the info from a reliable financial adviser.
I know that htis may not be unconnected with the rush for globalisation by nigerian banks.
Staff of the firm may not reallybe aware of what is going on.
How about the nises by Standard chartered bank?
Start registering your clubs for this showdown

[kiibaati]

Originally Posted by pumping

I received information that ETB will be doing private placement this November.
Minimum subscription, 5 Million Naira.
Has anyone else heard about this....?? I'm trying to validate this from other sources within the bank and gather more details to know how viable it is.

Enjoy.

Pumping

I doubt if this is true.