Ikeja Hotels Plc - Any News?

[kenebobo]

The rise still continues. I feel some people are trying to raise the price to about 7.5 and then freeze it for a PO of N6

[Michael]

Originally Posted by kenebobo

The rise still continues. I feel some people are trying to raise the price to about 7.5 and then freeze it for a PO of N6

Where does all the sudden demand come from? 7.5 is my average cost price, I am ready to cut and run. Has anyone found out how much exactly is the debt they owe and how will paying the debt affect the bottomline

[knightofdelta]

Originally Posted by Michael

I imagine The price is still too low. Does anybody know how much debt they have and how much interest they are paying for it yearly.

The prospectus will shed more light on it when the PO starts... but for me, I have lost confidence in this company. I am pulling out once I make small change.

[olusolakemmy]

Originally Posted by knightofdelta

The prospectus will shed more light on it when the PO starts... but for me, I have lost confidence in this company. I am pulling out once I make small change.

KOD for you to lost confidence means you must have had confidence in them in the first place? am i correct?
what informed/caused the confidence you once had in them?
what informed/caused the lost of confidence now?

please let have your opinion.

[hispy99]

Ikeja Hotel Placed on Technical Susupension

[olusolakemmy]

Originally Posted by hispy99

Ikeja Hotel Placed on Technical Susupension

my brother, it is expected.

[billions]

Originally Posted by olusolakemmy

my brother, it is expected.

That explains d increase in price....to exit now may be a problem(like UBN).I hv been trying to sell Union Bk for about 3 days now...no show.

[zainabusman]

Originally Posted by billions

That explains d increase in price....to exit now may be a problem(like UBN).I hv been trying to sell Union Bk for about 3 days now...no show.

U wont be able to sell UBN for a long time.

[kenebobo]

Originally Posted by billions

That explains d increase in price....to exit now may be a problem(like UBN).I hv been trying to sell Union Bk for about 3 days now...no show.

Ur right, to exit now would be a problem.

[waaan5]

Lesson: Once one see this unexplained and non-fundamentals supported upward price swing in stocks that have been rumored for TS, the next smart move should be to dash out asap before they close the door! In the era of bears+100k units requirement, they do not have the luxury of pushing the price too far up.

[riskreturn]

IKEJA HOTEL PLC
UNAUDITED SIX MONTHS RESULT ENDED JUNE 30, 2008
2008 2007
TURNOVER N3.225b N2.496b
PROFIT BEFORE TAXATION N817.075m N585.065m
TAXATION (N261.464m) (N187.221m)
PROFIT AFTER TAXATION N555.611m N397.844m

[kenebobo]

Originally Posted by riskreturn

IKEJA HOTEL PLC
UNAUDITED SIX MONTHS RESULT ENDED JUNE 30, 2008
2008 2007
TURNOVER N3.225b N2.496b
PROFIT BEFORE TAXATION N817.075m N585.065m
TAXATION (N261.464m) (N187.221m)
PROFIT AFTER TAXATION N555.611m N397.844m

Nice result.

[Michael]

Originally Posted by kenebobo

Nice result.

Whats nice about the result. Did their Margins improve from q1?

[hispy99]

Originally Posted by kenebobo

Nice result.

The PE I had for them prior to this result barely changed. Also, let's be careful of unaudited results, especially when the company is doing a PO

[knightofdelta]

Originally Posted by olusolakemmy

KOD for you to lost confidence means you must have had confidence in them in the first place? am i correct?
what informed/caused the confidence you once had in them?
what informed/caused the lost of confidence now?

please let have your opinion.

I had confidence in them before and that was long before I knew there was anything called fundamental number crunching analysis. I simply believed that the management, in the form of the Ibru Family, seeing what they did with Oceanic bank and with the confidence Union bank reposed on them, when they floated the initial pubic offer in 2006, by buying one billion units was good enough reason.

I have gone through the numbers and they have not made me happy. The fact that the management is also in charge of the board has resulted in zero corporate governance making them treat shareholders like pack of rubbish and not bothering to find out what we think before making important decisions.

To make matters worse, I thought this company was a growth company ready to tap into the hospitality industry by aggressive expansion only for me to hear that they want to float a public offer to pay off debt and improve on existing hotels. I have lost all confidence in this company and I will not associate myself with a backward looking company.

[Michael]

Originally Posted by knightofdelta

I had confidence in them before and that was long before I knew there was anything called fundamental number crunching analysis. I simply believed that the management, in the form of the Ibru Family, seeing what they did with Oceanic bank and with the confidence Union bank reposed on them, when they floated the initial pubic offer in 2006, by buying one billion units was good enough reason.

I have gone through the numbers and they have not made me happy. The fact that the management is also in charge of the board has resulted in zero corporate governance making them treat shareholders like pack of rubbish and not bothering to find out what we think before making important decisions.

To make matters worse, I thought this company was a growth company ready to tap into the hospitality industry by aggressive expansion only for me to hear that they want to float a public offer to pay off debt and improve on existing hotels. I have lost all confidence in this company and I will not associate myself with a backward looking company.

They have only proven that Ikeja Hotel is still a family run business. What do you think is going to happen to the public offer. Unless they sell it at N5, I don't see any oversubscription here. Most likely the issuing house will also warehouse the stock for a while.
I am trapped in this one.