Nascon

[Stockbear]

Originally Posted by richestowealth

Unfortunately mine wasn't. My broker told me that the stupid house read Cashcraft wants to sell it it to clients at market price. I told her to forget it.

Ghm abeg who is your brokerage house? If they're good enough to get NASCON I might as well have them as backup.

It seems we share the same broker, how nice for us? LOL

[ghm]

IBTC Assets Management is my stockbroker. The good thing is that they wrote all their clients on Thusday morning asking us to specify the no of units we want and how to fund it b/4 3:30. I just did and they bought it, it has been added to my portfolio presently.

[eriksbmw]

Now this is my kind of broker !

What is the minimum used to open an account ?

[oseitutu]

My Broker #1, Stanbic Equities sent me the email, but before I saw it, it was late past their deadline. I responded but eventually I was told today that none was purchased for me. However the Broker for my company, Afrinvest did purchase some for me, a small quantity which was all I requested. However Afrinvest never informed us of the impending trade. This may be the account officer's fault, or company policy, I do not know. I must however commend them for giving us what I asked for.

[olowo]

Richestowealth, you would have allowed your stockbroker to buy for you at the market rate because the stock was like marked down to N22 on same day. My stockbroker was able to get me some.

[richestowealth]

@Olowo. I'm referring to market rate of yesterday which went as high as
N27.90. I am calling the rep informing them that I'm transferring my account to another broker. The fact that some folks like you were able to get some while they lied to us has only infuriated me more.

@Ghm. How do you rate your broker in being responsive and what's their minimum?

[Stockmarket_Voyeur]

Hmm, Have they got a secret hoard of the NASCON shares? It's a bit strange that they would offer to sell to you at market rate. Seems to me like they don't have your interests at heart.

My brokers managed to get me 50% of the quantity that was requested.

[Gengen]

As informed by NSE, 400,000,000 units were to be offered for sale on 15/06/07.

I have the been following the volume traded over this past few days and did this this simple analysis (and Maths):

Date.....Closing....Volume Traded.........Value................Ave. Share
...........Price(N).........(Units)............... (N).................Price (N)

14/06...27.18

15/06...22.00........154,379,721......3,396,353,862.0 0....22.00

18/06...25.99..........14,586,076........380,736,059. 32....27.21

19/06...25.22..........10,313,571........262,661,519. 03....25.47

Total since 15/06..179,279,368 units.

Where is the 400,000,000 units sold at N22.00? Or am I missing something?

[bwalaman]

March 07 posting (Dangote Thread), I said...

________________________________________
How could we have missed this??? This stock went from 50 kobo at the begining of the year to over 6 naira!!!

""Meanwhile, a total of 2.127 billion shares were added to the shares outstanding in the name of National Salt Company at a price of N5.00/share following the placing of the shares in favour of Dangote Industries Plc and a total of 29.125 million shares added were added to the shares outstanding in the name of Thomas Wyatt Nigeria Plc following the placing of the shares in favour of Moore house Management Limited. The technical suspension on the two stock prices was lifted.""
Lead Weekly Investor, Week Ended March 09, 2007- Page 2.

April 07 posting (annoucments thread), I said...

Related to Dangote, see the Blog section on this site – National Salt Company, Plc. This is a strong buy even today. Dangote reportedly has about 70% of the Salt market (check Dangote website). Note Dangote deals in essentials – people will always need salt, sugar, cement etc

[bwalaman]

Yep...same story all over, I didn’t get any NASCON...still trying, but it all makes sense.

If Dangote was encouraged to shed off some share holdings, what would Dangote do?

Of course, you get huge / strategic investors to pick up good chucks of the shares and live the bone to us small scale guys. If Dangote doesn’t do that, I expect the brokers to listen, first, to the “good clients”!

That investment - it’s about scale. In a way, if you don’t have scale, the investment club option sound good. One or group should be able to leverage its presence/dominance to be felt!

As bad as our brokers seem, I don’t blame them- if one goes in huge, a broker has to listen and execute. I am sure anyone that regularly trades in chunks of 500k- 1 mil gets heard!!!

Instead of switching brokers, I am thinking of upping the ante - trade in 500K and above as minimum and your broker will know you mean business!!!

Of course, IBTC is special…for me it stands for more Investment Bank than Traditional Bank.

And yes, I will get my wife to open an account with them- all our accounts are fully joint, so why not???

Good luck folks…

[Stacks]

Maybe things wont turn out so bad.. If the bears keep having their way, we might be able to buy Nascon considerably less than 22naira..

[Stockbear]

As Richestowealth confirms, I was told by my account officer that they were allocated 2 million units, but decided to keep all to themselves because it was oversubscribed!

It's time to vote with our feet! Let's all disgrace brokers that don't perform and hail those that provide a good service.

All those interested in a new broker, see the APT thread and Choosing a stockbroker thread.

[whatsup]

Foul.
Foul.
Foul.

A very big dissapointment.

I was led to believe it was being purchased at 22 naira discounted from 27. Can anybody sell at 27? NO.

The whole even left a very sour after taste.

We should not allow ourself to become greater fools under any circumstances. I am dumping NASCON withing 2 weeks. If that.

Do not be surprised that you may be able to pick up this stock next week for around 20 naira.

Just foul.

[oseitutu]

Originally Posted by whatsup

Foul.
Foul.
Foul.

A very big dissapointment.

I was led to believe it was being purchased at 22 naira discounted from 27. Can anybody sell at 27? NO.

The whole even left a very sour after taste.

We should not allow ourself to become greater fools under any circumstances. I am dumping NASCON withing 2 weeks. If that.

Do not be surprised that you may be able to pick up this stock next week for around 20 naira.

Just foul.

Please clarify, who fouled who? It is as if the price was marked down for one day and sold at 22 naira. Naturally because demand was much more than supply at that price, the price started rising by the next trading day, Monday. Yesterday it was at 25.22 naira. Forces of demand and supply only can talke it back to 27 naira. I do not see where you are coming from with the foul entry here.

[Avocado]

Originally Posted by oseitutu

My Broker #1, Stanbic Equities sent me the email, but before I saw it, it was late past their deadline. I responded but eventually I was told today that none was purchased for me. However the Broker for my company, Afrinvest did purchase some for me, a small quantity which was all I requested. However Afrinvest never informed us of the impending trade. This may be the account officer's fault, or company policy, I do not know. I must however commend them for giving us what I asked for.

Interesting. I use Afrinvest; they got all I wanted, BUT, as you've noted here, they didn't inform of the sale. I'd connected Afrinvest with this thing about being slow with information, and not dispensing the information at all. Given one or the other, one would still have them: they delivered.

[oseitutu]

Originally Posted by Avocado

Interesting. I use Afrinvest; they got all I wanted, BUT, as you've noted here, they didn't inform of the sale. I'd connected Afrinvest with this thing about being slow with information, and not dispensing the information at all. Given one or the other, one would still have them: they delivered.

I am pleased that someone else is a bit satisfied with AFRINVEST apart from me. They are slow with info and need to improve on that front. Also their website is a bit slow to login, but I can not compare as that is the only one I have online access to.I multi-source my info and I would advice others to do the same: africaancapital markets.com, FSDH securities.com, ibtc.com as well as several other stockbrokers whom I am on their mailing list.

[richestowealth]

@Bwala. It's not about the funds trust me. My rep told me one of her clients placed an order for 500,000 units at the special price and they still told him they'd sell at market price. I fired of an email to them today that I'm transfering out my account. Why should I pay you to treat me like crap?