Skye Bank

[emmanuel ewumi]

Originally Posted by billions

The probability of a drop to 10 naira is very low with d 1% intervention plus others.

If there was no intervention ...d thing for reach like 8 naira.

Long time.how is this market treating you.l hope you have minimal exposure.
The month of september will determine if it will get to that price.
September is the year end of UBA,the loan portfolio invested in the capital market through share plus is quite high.A number of this loan are being re called to balance there account for the year end.The people that will sell skye bank at N10 or less,are those who bought it for between N6 and N8.
You should also know that we also have some public offers in the market.The effect of the so called intervention can only be felt for few days and things will go back to normal.The possibility of recovery this year is quite slim.But if you can wait for 12 months,l believe we shall have cause to smile.Fundamentally skye is a good buy at the current price.

[billions]

Originally Posted by emmanuel ewumi

Long time.how is this market treating you.l hope you have minimal exposure.
The month of september will determine if it will get to that price.
September is the year end of UBA,the loan portfolio invested in the capital market through share plus is quite high.A number of this loan are being re called to balance there account for the year end.The people that will sell skye bank at N10 or less,are those who bought it for between N6 and N8.
You should also know that we also have some public offers in the market.The effect of the so called intervention can only be felt for few days and things will go back to normal.The possibility of recovery this year is quite slim.But if you can wait for 12 months,l believe we shall have cause to smile.Fundamentally skye is a good buy at the current price.

Thanks my brother.How ur end?

Make we see d thing wey go happen in september sha.

As per my portfolio...I am only 60% exposed to d market and d remaining 40%(cash) is enough for me to "arrange" myself.

I can wait for 1-2 years for d market to stabilize(if need be)....i am not bothered.

[azob2002]

Originally Posted by billions

Thanks my brother.How ur end?

Make we see d thing wey go happen in september sha.

As per my portfolio...I am only 60% exposed to d market and d remaining 40%(cash) is enough for me to "arrange" myself.

I can wait for 1-2 years for d market to stabilize(if need be)....i am not bothered.

Oga Billions, how i wish i could wait as long as u.... by that time; if this market no behave itself my wife go don return back to her papa house

Ayway whatever that has happened in this market, let us not miss the lessons especially for those of us that are highly leveraged...

[Yusuf]

Originally Posted by billions

Thanks my brother.How ur end?

Make we see d thing wey go happen in september sha.

As per my portfolio...I am only 60% exposed to d market and d remaining 40%(cash) is enough for me to "arrange" myself.

I can wait for 1-2 years for d market to stabilize(if need be)....i am not bothered.

I too took the decision to forget having any of my monies in stock market and start thinking of something else. I assumed to have lost the money and pick my life without thinking of the money. I turned the market to my safe haven when other investments were not working as expected. All my paper profits has been eroded. But I thank God that I am still positive as I bought most of the stock in my portfolio at a give away price then.

If this artificial bull of today turns to be real, then, I can still count myself among the millionaires.

But for now, I am playing wait and see game for at least next week.

[waaan5]

Originally Posted by emmanuel ewumi

Long time.how is this market treating you.l hope you have minimal exposure.
The month of september will determine if it will get to that price.
September is the year end of UBA,the loan portfolio invested in the capital market through share plus is quite high.A number of this loan are being re called to balance there account for the year end.The people that will sell skye bank at N10 or less,are those who bought it for between N6 and N8.
You should also know that we also have some public offers in the market.The effect of the so called intervention can only be felt for few days and things will go back to normal.The possibility of recovery this year is quite slim.But if you can wait for 12 months,l believe we shall have cause to smile.Fundamentally skye is a good buy at the current price.

Interesting Emmanuel, very interesting! You used to be very bullish on this mrkt to the extent that I started thinking whether you were into stock broking. But to hear you sound like this got me thinking that this intervention again may not be the answer (if they could not persuade you) and we are still in the doldrums.

[billions]

Originally Posted by azob2002

Oga Billions, how i wish i could wait as long as u.... by that time; if this market no behave itself my wife go don return back to her papa house

Ayway whatever that has happened in this market, let us not miss the lessons especially for those of us that are highly leveraged...

Oga ke.

Hopefully, this intervention will continue to work and we go "hammer".

[emmanuel ewumi]

Originally Posted by billions

Oga ke.

Hopefully, this intervention will continue to work and we go "hammer".

Let us see what will happen in the next two weeks.But if you make a gain of 10 to 15 percent,l will advice you to run with your profit.Because investors confidence is yet to be fully established.

[emmanuel ewumi]

Originally Posted by billions

The probability of a drop to 10 naira is very low with d 1% intervention plus others.

If there was no intervention ...d thing for reach like 8 naira.

l do not have any problem with the so called intervention,but l believe this 1% rule for down ward movement will definety back fire.l hope you remember what happened the last time NSE prevented ,down ward movement of stock thru artificial means but encouraged up ward movement.

[emmanuel ewumi]

Originally Posted by waaan5

Interesting Emmanuel, very interesting! You used to be very bullish on this mrkt to the extent that I started thinking whether you were into stock broking. But to hear you sound like this got me thinking that this intervention again may not be the answer (if they could not persuade you) and we are still in the doldrums.

Am still very bullish,if we are looking at a 12 month horizon for some selected stocks.But am bearish for the remaining part of the year.
Please do not lynch me,am actually praying that some of this stocks should shed more weight .Hope you understand what l mean.

[billions]

Originally Posted by emmanuel ewumi

l do not have any problem with the so called intervention,but l believe this 1% rule for down ward movement will definety back fire.l hope you remember what happened the last time NSE prevented ,down ward movement of stock thru artificial means but encouraged up ward movement.

Maybe, d committee will gradually increase it from 1% to 2% and from 2% to 3%,etc.The change shd be done gradually.

I agree,if d current situation is not well managed...a big problem awaits us "tomorrow".

[hispy99]

Latest Market Info
SKYEBANK: ADDITIONAL SHARES LISTED

TODAY THE EXCHANGE LISTED A TOTAL OF 4,081,925,292 ORDINARY SHARES TO THE SHARES OUTSTANDING IN THE NAME OF SKYEBANK PLC ON WEDNESDAY 3, SEPT 2008.

THIS COMPRISES OF 1,500,608,958 (RIGHTS), 2,231,599,145 (OFFER FOR SUB) AND 349,717,189 (SUPP)

[Catweasel]

I really do not understand and definitely cannot read this Market at all.

After 11 straight -1% days, Skye suddenly pops in a +3.08% day. Indeed it was the only banking stock heading north today, with virtually all the other banks going 1% south.

This is in spite of the fact that GT Bank just announced some dame fine interim results.

Can anyone even hazard a guess what drove Skye to the plus side today?
I really would love to know!

[hispy99]

Skye Bank too is also going "international"

Skye Bank commences Sierra Leone operation
By Ifeanyi Onuba
Published: Wednesday, 24 Sep 2008


As part of its offshore expansion strategy designed to position the financial institution in key markets in the West African sub-region, Skye Bank Plc has commenced full banking operations in Sierra Leone.

The Head, Corporate Affairs, Skye Bank Plc, Mr. Kayode Akinyemi, said in a statement on Tuesday that the new entity, Skye Bank Sierra Leone Limited, was a “100 per cent subsidiary of Skye Bank Plc.”

He said Skye Bank Sierra Leone would offer the same quality of excellent financial service delivery, which the bank was noted for in the Nigerian market and also contribute to the economic and social development of the country.

According to him, “Our focus is to empower the people of Sierra Leone to enjoy our full-range of customer-centric banking services, which has made Skye Bank one of the top financial services providers in Nigeria,”

He added that the opening of the subsidiary was an opportunity for the bank to partner the government and people of Sierra Leone in the area of economic empowerment and social development.

Akinyemi pointed out that Sierra Leone was just one in the scheme of offshore subsidiaries that the bank was set to open in the nearest future to underline its commitment to provision of financial services in the sub- region.

The statement said, the Managing Director and Chief Executive Officer, Skye Bank Sierra Leone Limited, Mr. Olumide Olatunji, expressed delight with the opening of the subsidiary, which he said, would assist the bank to tap into existing and potential opportunities in the West African sub region.

[chokit]

Originally Posted by hispy99

Latest Market Info
SKYEBANK: ADDITIONAL SHARES LISTED

TODAY THE EXCHANGE LISTED A TOTAL OF 4,081,925,292 ORDINARY SHARES TO THE SHARES OUTSTANDING IN THE NAME OF SKYEBANK PLC ON WEDNESDAY 3, SEPT 2008.

THIS COMPRISES OF 1,500,608,958 (RIGHTS), 2,231,599,145 (OFFER FOR SUB) AND 349,717,189 (SUPP)

The share will be listed without the investor having a sight of the cerificate or has anyone got his or hers ?Good move !

[BigJay01]

My CSCS credit was done more than 1 month ago

[son5070]

Originally Posted by chokit

The share will be listed without the investor having a sight of the cerificate or has anyone got his or hers ?Good move !

I had mine credited to my CSCS about 2 months ago