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  #1 (permalink)  
Old 3rd January 2008, 08:42 PM
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Arrow firstinland Vs wema Vs skye banks po's

firstinland po is out and those of wema and skye banks po's are on the way. i need to pull my resources together for any two of them. have read some aspect of the firstinland po , can anyone help me out with some analysis of the viabilty of skye bank and wema bank? an advice on which two t go for big time!

Last edited by threecrown; 3rd January 2008 at 08:46 PM.
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Old 3rd January 2008, 09:08 PM
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While thinking of these POs big time remember that they would likely return lots of your money after 6 months big time!! I was badly burnt with First Bank and Access is already at it. Lots of losses on borrowed funds. Look well .......
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Old 3rd January 2008, 09:17 PM
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mmmm threecrown! that's a risky question you are asking. I would rather advise you to get all these po prospectus and study them thoroughly with your financial adviser (presumably your stockbroker) so that at last you would not hold someone responsible if anything goes wrong.

There is risk in doing business, therefore, one must be very cautious in any decision taking. So, if I may suggest, you can go for skye bank and wema bank in view of returns on investment (roi). For me, I am still waiting for the big catch in these banks coming afterwards...
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Old 4th January 2008, 09:31 AM
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I agree that you should give Skye bank a serious thought. They are on the verge of buying over (100% stake) the third largest bank in Gambia, the International Bank for Commerce. It will be a very good buy for the medium to long term and even short term considering their expertise in different fields.

The Knight of Delta.
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Old 4th January 2008, 10:00 AM
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Quote:
Originally Posted by threecrown View Post
firstinland po is out and those of wema and skye banks po's are on the way. i need to pull my resources together for any two of them. have read some aspect of the firstinland po , can anyone help me out with some analysis of the viabilty of skye bank and wema bank? an advice on which two t go for big time!
pls study prospectus very well b4 taking a final decision.but do try and balance up on number of shares you want to buy so that you do not end up having a substantial amt of your cash rtn at the end of the day.may & baker and first bank are some of the offers that did just that.
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Old 4th January 2008, 02:01 PM
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Quote:
Originally Posted by chephy View Post
pls study prospectus very well b4 taking a final decision.but do try and balance up on number of shares you want to buy so that you do not end up having a substantial amt of your cash rtn at the end of the day.may & baker and first bank are some of the offers that did just that.
But, in the case of FCMB offer, information has just been sent this afternoon by CSL Stockbrokers that no investor would get less than 80% in the allotment. So, it is not always as gloomy as in the case of May & Baker, First Bank, Dangote Flour (according to grapevine), etc.

By the way, what is the latest grapevine on Access Bank offer? Massively oversubscribed too or what? And, if so, what allotment formula is to be adopted in the rationing process?
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Old 4th January 2008, 04:00 PM
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Riskreturn, please can you contact your CSL guy to give me the website link where he got the information about the 80% sure banker allotment???
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Old 4th January 2008, 06:20 PM
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Quote:
Originally Posted by chidiohaz View Post
Riskreturn, please can you contact your CSL guy to give me the website link where he got the information about the 80% sure banker allotment???
Please be notified that CSL Stockbrokers Ltd is a subsidiary of the FCMB. So, the notification to all CSL clients (including myself) looks like an official statement from FCMB itself. To quote, the notification reads as follows:

Dear All,

We thank you for the support shown during the recently concluded FCMB Public Offer.

In line with the indicative timeline as disclosed in the Prospectus, the Issuing Houses have completed the reconciliation of all applications received and submitted the Basis of Allotment Proposal to Securities and Exchange Commission (SEC) on the last day of the year.

Due to the overwhelming support from investors and in keeping with regulatory stipulations that only 25% of excess applications can be absorbed, applications may be reduced but would not fall below 80% of the units originally applied for.

For clients in the preferential list, CSL Stockbrokers will work on ensuring that you are allocated.

Barring any unforeseen circumstances, the Issuing Houses are on track to ensure that the Offer is listed on the projected date disclosed in the Prospectus.

Thank you for your understanding and we will continue to give your regular updates on the offer process.

Kind Regards
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Old 4th January 2008, 06:26 PM
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Quote:
Originally Posted by riskreturn View Post
Please be notified that CSL Stockbrokers Ltd is a subsidiary of the FCMB. So, the notification to all CSL clients (including myself) looks like an official statement from FCMB itself. To quote, the notification reads as follows:

Dear All,

We thank you for the support shown during the recently concluded FCMB Public Offer.

In line with the indicative timeline as disclosed in the Prospectus, the Issuing Houses have completed the reconciliation of all applications received and submitted the Basis of Allotment Proposal to Securities and Exchange Commission (SEC) on the last day of the year.

Due to the overwhelming support from investors and in keeping with regulatory stipulations that only 25% of excess applications can be absorbed, applications may be reduced but would not fall below 80% of the units originally applied for.

For clients in the preferential list, CSL Stockbrokers will work on ensuring that you are allocated.

Barring any unforeseen circumstances, the Issuing Houses are on track to ensure that the Offer is listed on the projected date disclosed in the Prospectus.

Thank you for your understanding and we will continue to give your regular updates on the offer process.

Kind Regards
Thanks for this vital info. I sincerely appreciated it! I also bought the last po of fcmb that's why I am curious to know the details of the absorption.

Also, please can you refresh my mind with fcmb would be re-listed and the dispatching of share certificates or crediting of our CSCS accounts??
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Old 4th January 2008, 06:48 PM
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Quote:
Originally Posted by chidiohaz View Post
Thanks for this vital info. I sincerely appreciated it! I also bought the last po of fcmb that's why I am curious to know the details of the absorption.

Also, please can you refresh my mind with fcmb would be re-listed and the dispatching of share certificates or crediting of our CSCS accounts??
According to the offer prospectus, on January 4, basis of allotment is to be published in dailies and surplus/rejected application monies to be returned. On 18 January, share certificates are to be dispatched. On 25 January, shares are to be listed for trading.
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Old 4th January 2008, 06:57 PM
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Thanks Riskreturn! I hope those of us whose interests lie in FCMB PO has gotten the gists. It's just for refreshing our memories only. So let's keep our fingers crossed and wait for the successful crediting of our Stock Accounts.

My general advise to FCMB is: In the case they do send share certificates I hope they would conduct the verification exercise as efficient as possible as they have thus proven in the public offer
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Old 8th January 2008, 10:40 AM
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Quote:
Originally Posted by threecrown View Post
firstinland po is out and those of wema and skye banks po's are on the way. i need to pull my resources together for any two of them. have read some aspect of the firstinland po , can anyone help me out with some analysis of the viabilty of skye bank and wema bank? an advice on which two t go for big time!
While I do not yet have enough information on relative desirability of the proposed PO of Wema Bank and Skye Bank, I wish to draw your attention to the publication in today's Punch that Skye Bank's 50 billion Naira hybrid offer would be made at 12.50 Naira for rights issue and 14.00 Naira for Offer for Subscription. The commencement/closing dates are not indicated as the Completion Borad Meeting is reported to have been postponed.

But whether 14.00 Naira Offer for Subscription price would be good in absolute sense as well as in relation to Wema Bank's antiticipated offer would depend, among others, on the projected performance indicators (including P/E ratio) of the Skye Bank, about which nothing has been made known yet. All I can say now is that, based on the audited annual report for September 2007 (and after the 35 kobo dividend is paid next week or so), the historical P/E ratio at 14.00 Naira would be 19.50 times.
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Old 8th January 2008, 05:37 PM
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Default Apart From PO Projections Pulse of the Market

Apart from the PO Projections one needs to sense the pulse of the market. Check how people are rushing for it, the level of advertisement and awareness and all kinds of subtlemarketing. plus clauses on preferrential allotment. once preferrential allotment too much it reduces the amount that the general public can take.

My initial feeling is the banks based on fundamental and how active they have been with funding capital market activities are starting from the percieved top performer
1. Skye Bank
2. Wema Bank
3. First Inland Bank
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Old 10th January 2008, 10:07 AM
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Quote:
Originally Posted by knightofdelta View Post
I agree that you should give Skye bank a serious thought. They are on the verge of buying over (100% stake) the third largest bank in Gambia, the International Bank for Commerce. It will be a very good buy for the medium to long term and even short term considering their expertise in different fields.

The Knight of Delta.
You can say that again...

Skye Bank denies acquisition of Gambian bank
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