First bank Hybrid offer

[alanbow]

Just in case you don't know


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First Banks N100b hybrid offer opens May 14
Posted Monday, May 7, 2007

Parties to the N100 billion hybrids offer of First Bank of Nigeria Plc... [Content Deleted]
Source : http://www.proshareng.com

[EIC]

Originally Posted by alanbow

Just in case you don't know


***********************
First Banks N100b hybrid offer opens May 14
Posted Monday, May 7, 2007

Parties to the N100 billion hybrids offer of First Bank of Nigeria Plc... [Content Deleted]
Source : http://www.proshareng.com

Hi alanbow ,

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[alanbow]

Sorry, Point taken.

[prof]

Bearing in mind that First Bank Doubled its shares last year during the 1 for 1 bonus, and is in the market to raise more money by offering more shares, do anyone think their fundamentals are strong enough to sustain the large number of shares it is releasing to the market. In other words is it a good buy? Please advise me.

[Avocado]

prof: FBN is a good buy, and especially at N33 (for new investors).

Disclosure: I'm a FBN investor and nothing more.

[eriksbmw]

Prof : point is very well made !

Did you all know that First Bank sold $175millions bonds at the international capital markets ? Well, I didn't up until very recently.

I was about to invest in their hybrid offer but have now chosen not to.....reason being that they are slightly overpriced and my current investment objective is clearly short term.

I may be wrong......but......I don't think I can hold out long enough for my returns.

[dotunk]

eriksbmw

you seem to be on my side. you could search for my posts on the issue. alanbow will also back me on this since we trashed it out.

Since you are a short term investor as i am, i think you should buy FBN on the secondary market (it may be risky though) and wait for capital appreciation by august. i expect a slight increase (maybe N10) if you are disposed to it and if the divdend this year is good. but the cahnce for a bonus issue is slim following last years 1 for 1... but eh! anything can happen.

[c kenneths]

Guys, I was in front of First banks head office at the launch of the hybrid offers at Marina Lagos today, It was a great feeling although I am not a super fan of First bank, but I think I will change my mind and buy the offer since my broker sold the ones I have in the secondary market last week.

The high point of the occasion was when Mr moyo Ajekigbe was going to make his little speech and the live elephant they brought to the scene nearly lost control of the handlers ! if you see how we ran ! life sweet oo.

[Stockmarket_Voyeur]

An elephant??
That's so ridiculous if you ask me!!!