Market Cprrection Or What????????????

[olusolakemmy]

Hello people,
for those with information, please lets study the trend in NSE recently very well.
all the sectors, companies are shedding price everyday, is this the imminent price correction or just long stay of bears????????????
are we expecting bull to return in sucha manner to make us recover.
look at UBN, despite the news of div n bonus, people are still dumpin the shares.
all the companies that are gaining or enjoying high trade are the ones with artificial appreciation, eg airservices plc, where maximum of 100000 are sold daily and demand is 50times more than that!!!!!!!!!!!!!! when the price hit N70 like nahco, they will now release their shares in surplus.
so whats happening, pls lets analyse and decide

[c kenneths]

Sure, its a big bear session, and also a market crrection, but better still, a buying opportunity, as value hunters will slowly be picking stocks with sound fundamentals that has become cheap.

Lets take the opportunity.

[wanaj0]

Originally Posted by c kenneths

Sure, its a big bear session, and also a market crrection, but better still, a buying opportunity, as value hunters will slowly be picking stocks with sound fundamentals that has become cheap.

Lets take the opportunity.

Liquidity issues. No money. Would like to buy Flour Mills but no money

[nichobabe81]

Originally Posted by wanaj0

Liquidity issues. No money. Would like to buy Flour Mills but no money

YOU ARE RIGHT, I WISH I HAVE MONEY TO BUY UBN, IT IS MOST LIKELY THEY WILL DO BONUS AND GOOD DIVIDEND.
MARKET CORRECTION IS THE TIME TO TAKE POSITION.

[jummie]

I ve studied the market closely since last week I just discovered that prices are just coming down especially in Banking, Insurance and Food Sector. Is it advisable to buy stock now or watch.

[jummie]

I have not been able to come to terms with union bank about their price because the price reached N39.00 in 1994 when I bought my own share and before the public offer. I have been waiting since then for N50.00 so that I can sell it at least with a little gain. If not because of the bonus, I would have lost a lot of money, is there any hope that the stock will still increase because I am fed up with the trend of event. Please advise me on what to do.

[olusolakemmy]

Originally Posted by jummie

I have not been able to come to terms with union bank about their price because the price reached N39.00 in 1994 when I bought my own share and before the public offer. I have been waiting since then for N50.00 so that I can sell it at least with a little gain. If not because of the bonus, I would have lost a lot of money, is there any hope that the stock will still increase because I am fed up with the trend of event. Please advise me on what to do.

make an objective calculation of your UBN worth when you bought then companre it with your UBN worth now at N39 taking your bonuses into consideration,tell us whats the percentage gain,am sure it wil be more than 50%. you dont expect prices tobe going up, sometimes bonus is even use to adjust prices so as to encourage other investors.
so UBN have nt done taotally bad in my opinion

[Apache]

Union bank is coming back to the market to raise some more funds as you would have read in the papers, they have called for an extra ordinary meeting of shareholders to approve this. Now, look at the trend of the big banks that have come to raise funds from the market. just before their POs, they always issue bonus so as to wet the apetite of investors when thier offers come out.First bank did it, Zenith just did it, GTBank did it, Afribank is doing it
mark my words, Union bank is going to give a bonus at year end and then come out with a public offer. so if you want to make some monies, buy now and sell before they mark down the price for the bonus or you can sell when the price is on technical suspension.

[olusolakemmy]

Originally Posted by Apache

Union bank is coming back to the market to raise some more funds as you would have read in the papers, they have called for an extra ordinary meeting of shareholders to approve this. Now, look at the trend of the big banks that have come to raise funds from the market. just before their POs, they always issue bonus so as to wet the apetite of investors when thier offers come out.First bank did it, Zenith just did it, GTBank did it, Afribank is doing it
mark my words, Union bank is going to give a bonus at year end and then come out with a public offer. so if you want to make some monies, buy now and sell before they mark down the price for the bonus or you can sell when the price is on technical suspension.

Yes they all did it, but GT BANK did not give bonus before their Po,thats just for therecord, but it usualy a common practice in the sector, oceanic bank too gave 1for4 before their last Po.
But i dont thin UBN target is the general public, they dont intend to do PO, fine they want to raise capital but through the public, they jsut need approval of investors, they have a ready made target, i will postfurther info here, if i read and understand proshare analysis on the offer

[olusolakemmy]

UBN plan to raise additional capitalthrough a placing process to introduce a trategic investor with a multinational banking experince who shall acquire not more that 30% of the aggregate ordinary shares of the company as at the date of placing completion subject to all regulatory and statutory approval.
By my own understanding, they already have atarget investor that intend to acquire some percentage and not necessarily the public(note investor and not investors), but this can still postitively affect UBN price

[pumping]

Thanks for the clarification. This answers the question I posed in another post. So UBN may not be coming to the market.

I suppose this is a good strategic decision. It is cheaper to raise funds this way than through an IPO since they don't have to bear the cost of an IPO placement and it comes with the technical experience of the investor. Any thoughts?

It also appears the bank is seriously positioning itself for multinational banking and is definitely staying in the "big banks" race.

Enjoy.

Pumping.

[Apache]

I think i better get my funds together and cash in on this one. Though its a sentimental decision, you all know the way the market reacts when the word "Foreign investor" is used pertaining a company especially for Union bank that needs it dearly.
Meanwhile, i know this is not the right thread for this but did you see NBC's result. Ol boy!

[pumping]

Originally Posted by Apache

I think i better get my funds together and cash in on this one. Though its a sentimental decision, you all know the way the market reacts when the word "Foreign investor" is used pertaining a company especially for Union bank that needs it dearly.
Meanwhile, i know this is not the right thread for this but did you see NBC's result. Ol boy!

I beg fill man in on this NBC result jare....I don check the relevant thread but no jist...You get link to the info online?

Pumping.

[c kenneths]

some more gist will be coming in on NBC, am drinking beer with one of their workers who should know better.