Iei

[bayern]

Guys pls is this insurance a good buy? Iv been seeing its price flying, need help...

[Yusuf]

Originally Posted by bayern

Guys pls is this insurance a good buy? Iv been seeing its price flying, need help...

The company is new to stock market and has little info about them. From all indication and available information, I want to believe they are good buy for now as I intend buying myself.

[c kenneths]

Watch out for insurance stocks that are new, if a recertification starts there , how will the smaller players fare?
I will keep my gaze on only the more established ones Wapic, cruseder, unic, m/benefits, etc.

[biyi oshinaga]

hi, guys, international energy insurance is on full technical suspension, due to the coys proposed restructuring.........how will this benefit investors?... put your view across to the house.

[Dennis Osarumwense]

IEI is doing a share recon, the final burden of risk rest on the ordinary share holder. O have always argued that nothing stops the stock price even after doubling it to 3.xxx, from droping back to 1.xxx.
This is just a loophole coys use to benefit themselves and leave the shareholder gnashing.
I will exit IEI for now and wait and see.
You move!

[newton]

Well not exactly dennis. Infact if u were to consider the available examples then u'd probably hav a rethink.

Bank PhB has a sahre recon of 1:4, relisted @ N17 rose to over N30 and stayed there until it was marked down to N25.51 after givin a bonus issue.

Same wt Access bank

[ifeanyi05]

pls wats the difference between a full suspension and technical suspension?

[olusolakemmy]

Originally Posted by ifeanyi05

pls wats the difference between a full suspension and technical suspension?

technical suspension means the price will be fixed, you can buy through a cross deal or a willing seller but at a stipulated price, determined at the time the company applied for it, while full suspension means that there will not be trading at all on it

[olusolakemmy]

Originally Posted by Dennis Osarumwense

IEI is doing a share recon, the final burden of risk rest on the ordinary share holder. O have always argued that nothing stops the stock price even after doubling it to 3.xxx, from droping back to 1.xxx.
This is just a loophole coys use to benefit themselves and leave the shareholder gnashing.
I will exit IEI for now and wait and see.
You move!

it doesnt really work that way, it is true that the stock price at N6 today can be N2 tomorow.
1st lets consider companies that have done it, access, PHB, both did very well after reconstruction.
2nd what it means is that the shares are smaller and have more value, EPS is raised and value will further go up evetually.
i have the same idea as yours when access concluded their recon, i sold my shares at N7!!!!!, the coy is selling at N20 today, i sold it just because i was angry with them that why will they reduce my share, but i know better now.

[newton]

Tanx 4 sheddin more light on the share recon thingh Olusola. If u were to go by the huge vols IEI was doin close to the FS (abt 80m-100m units daily) there'd probably be a backlog of demand which wd mean the stock wd resume activities on full bid when the FS is lifted thus placing the investor wt stockholding (verified) prior 2 d recon an opportunity to take advantage by selling just when the price is abt to settle after the initial charge.

[ifeanyi05]

So any one has any idea how long the full suspension will last, how long does it normally take for them to finish reconstruction ? and pls any one has information on the company (i mean IEI) wats their profit like, who runs the company, and all that kinda info?

[crtide]

Originally Posted by ifeanyi05

So any one has any idea how long the full suspension will last, how long does it normally take for them to finish reconstruction ? and pls any one has information on the company (i mean IEI) wats their profit like, who runs the company, and all that kinda info?

You can start from here International Energy Insurance Plc
It has the unaudited half year 2007 result when most other insurance coys have 2005/2006 results on their website

[olusolakemmy]

Originally Posted by ifeanyi05

So any one has any idea how long the full suspension will last, how long does it normally take for them to finish reconstruction ? and pls any one has information on the company (i mean IEI) wats their profit like, who runs the company, and all that kinda info?

i dont know how long, it took access a very short time to do a recon and resume trading, i dont know how long it took PHB, but i want to believe it will depend on many factors, but i dont think it will ever be upto to 6month.

[olumba]

Originally Posted by olusolakemmy

i dont know how long, it took access a very short time to do a recon and resume trading, i dont know how long it took PHB, but i want to believe it will depend on many factors, but i dont think it will ever be upto to 6month.

My Dear,
I have a little problem. I opened a CSCS account with ALLBONDS SECURITES, a brokerage firm in owerri Imo State. The said acc was opened on or about2005/2006 and i paid six thousand naira for it. I have bought and sold severally through them. Each time i demand to know my stock position , i pay and they print it out for me. Recently my friend took me to his office and opened his inhouse account and his CSCS account on line trhough the site of his broker. he said that he was given the number by his stock broker. My plight is that i have no knowlege of my buying or selling in my account with ALLBOND. All i was given was a CSCS number and i have asked for my inhouse number account number so that i can have acess to my account but they have refused to give me. Recently Union Bank wrote me crediting my account with them with 5,750 units. i have printed my stock position with them , but it was not reflected. I asked them and they were putting it to me that i sold them. The question is how? PLEASE SOMEBODY SHOULD TELL ME WHAT TO DO. i WANT TO KNOW MY WHOLE TRANSACTION SINCE I STARTED OPERATING THAT ACCOUNT. PLEASE HELP

[DaInvestor]

Originally Posted by olumba

My Dear,
I have a little problem. I opened a CSCS account with ALLBONDS SECURITES, a brokerage firm in owerri Imo State. The said acc was opened on or about2005/2006 and i paid six thousand naira for it. I have bought and sold severally through them. Each time i demand to know my stock position , i pay and they print it out for me. Recently my friend took me to his office and opened his inhouse account and his CSCS account on line trhough the site of his broker. he said that he was given the number by his stock broker. My plight is that i have no knowlege of my buying or selling in my account with ALLBOND. All i was given was a CSCS number and i have asked for my inhouse number account number so that i can have acess to my account but they have refused to give me. Recently Union Bank wrote me crediting my account with them with 5,750 units. i have printed my stock position with them , but it was not reflected. I asked them and they were putting it to me that i sold them. The question is how? PLEASE SOMEBODY SHOULD TELL ME WHAT TO DO. i WANT TO KNOW MY WHOLE TRANSACTION SINCE I STARTED OPERATING THAT ACCOUNT. PLEASE HELP

its not out of practice for stock brokerage firms to ask for money for print out of stock position/ cscs statement esp.. the small firms, the money according to them is for the print they charge btw 50-100 naira but i dont know if this is illegal, its also one of the reasons i moved to a bigger stock broking firm and stopped transacting on the account till i can offload all my stocks with them.

concerning tracking ur stock, u have some options 1 getting trade alert which tells u thru text i think about any transaction on ur CSCS acc.. or u go to CSCS and register for ur account online i think i costs 2500 naira every year for individual investors not too sure... with this i guess u ll have a better hold on your investments.

question 4 u, is it that u dont know ur stocks with theb roker??? cos if u do any u sense fraud then u either go to the authorities to report which i cant tell u how effective it will be or u close ur account and use another broker i guess the other guys in the house would give u more ideas on how to tackle ur prob.

[Avocado]

Olumba: relax, eh. Getting all worked up wouldn't help much; you need your good health to get this solved.

You wrote:

1) "Each time i demand to know my stock position , i pay and they print it out for me."

and

2) "My plight is that i have no knowlege of my buying or selling in my account with ALLBOND."

It appears you're not satisfied with Item 1; why not? Take a look at the last print-out, does it have your transaction (buy/sell) history or not? If not, make a written demand for it: write a letter to your stockbroker, get it hand-delivered, and get them to acknowledge receipt on a duplicate copy of the letter. With this, if your stockbroker still does not give you a print-out, then you could complain to the SEC.

DaInvestor gave you good advice: if you have a mobile phone (on the GSM platform), then you can subscribe to the CSCS. Here are the relevant links to what you need to do, and the forms you need to fill:

1) http://www.cscsnigerialtd.com/forms/..._subscribe.pdf ***

2) http://www.cscsnigerialtd.com/forms/...tion_form1.pdf

3) Also see:Nse/Cscs Trade Alert-Home

1) and 2) is for online access; cost is N2500 per year
3) Is for instant SMS to your mobile phone (GS; platform); N3600 per year. You will, at the end of a trading week, get all the details on your CSCS account and your CSCS account holdings on completed transaction (Trading day + 3 extra trading days). And whenever there's a transaction on your account, you will be notified.

It may be wise to activate this for January 2008.

It'll be nice for you to report on how this goes.

*** These info and links are originally from Alanbow who has been gracious with useful information. They've been posted at this location Monitoring Your Account - CSCS Details on this site.
.

[Avocado]

Back to IEI:

company website: International Energy Insurance Plc

3rd quarter unaudited accounts: http://www.ieinsuranceco.com/UNAUDIT...3RDQUARTER.htm

They're not doing badly; the reconstruction can't be a bad thing for investors.

.