Crusader Nigeria Plc

[Apache]

Originally Posted by dejino

Judging by the offer price and the current floor-price (N5 and around N.7.5 respectively), we can make a guess that right issue will go for something like N4 (just a guesswork).
No word yet on the right issue price yet sha but am wondering whether that info, being specific to current share holders, will be sent via a 'letter of offer' to existing share holders or laid in the public domain?

My guess id =N=4.5. I can't remember where i heard that but i think i have heard it somewhere that it miight go for 4.5

[scamo]

Thx for the info, any news when the will open the PO, i hope its going to be a good buy and hope also there wont be the usual returned money

[riskreturn]

Originally Posted by Apache

My guess id =N=4.5. I can't remember where i heard that but i think i have heard it somewhere that it miight go for 4.5

My understanding or interpretation is that the same price of 5 Naira would apply to the two types of offer. But let us keep our fingers crossed until more information becomes available.

[Apache]

Originally Posted by riskreturn

My understanding or interpretation is that the same price of 5 Naira would apply to the two types of offer. But let us keep our fingers crossed until more information becomes available.

Sorry, I meant for the Rights issue price - N4.5

[threecrown]

Guys

I guess the crusader is going to be a mad rush and i hope it will not be another nahco/dfm, There is already about 10million units supply in the market. I guess people are already taking positions.

[riskreturn]

Originally Posted by Apache

Sorry, I meant for the Rights issue price - N4.5

What I am also saying is that I understand what is being said in the Proshare source to mean that both types of offer (i.e., offer for subscription and rights issue) would be at the same 5 Naira price, without differentiation. Offer for subscription and rights issue are both different types of public offer, the way I interprete it. But you may please try to confirm from the source where you seem to have learnt that rights issue would be at a lower price.

[hispy99]

Originally Posted by riskreturn

What I am also saying is that I understand what is being said in the Proshare source to mean that both types of offer (i.e., offer for subscription and rights issue) would be at the same 5 Naira price, without differentiation. Offer for subscription and rights issue are both different types of public offer, the way I interprete it. But you may please try to confirm from the source where you seem to have learnt that rights issue would be at a lower price.

I believe Fidelity did this during their last offer where both the PO and Rights were priced at N8

[Ike]

Crusader, mad rush or not, I am not buying from PO.Tired of someone having my money stuck for nothing for months.

[threecrown]

Originally Posted by Ike

Crusader, mad rush or not, I am not buying from PO.Tired of someone having my money stuck for nothing for months.

I understand your point, but my plans now is to buy a fraction of what i want from po's then the rest from the market. its a way of balancing things up.

[Apache]

Originally Posted by riskreturn

What I am also saying is that I understand what is being said in the Proshare source to mean that both types of offer (i.e., offer for subscription and rights issue) would be at the same 5 Naira price, without differentiation. Offer for subscription and rights issue are both different types of public offer, the way I interprete it. But you may please try to confirm from the source where you seem to have learnt that rights issue would be at a lower price.

You might be right bcos i don't value the source which i got the info. it was more like a passing statement. Let's wait and see.

[chymex]

Originally Posted by Ike

Crusader, mad rush or not, I am not buying from PO.Tired of someone having my money stuck for nothing for months.

@Ike, oga please take am easy with the returned money thing, but I think that lesson has inadvertently caused you and most of us to look the right way - doing it on the floor is the way, the deal and the business. Please mop up Crusader if you think any good of them. The lesson is not all about the returned money thing, but also the turn around time. Wise up !!!

[Panadol]

When is the offer coming out?

[knightofdelta]

Originally Posted by Panadol

When is the offer coming out?

We are still waiting. I called their registrars and they were not sure either.

The Knight of Delta.

[ManIsland]

Originally Posted by knightofdelta

We are still waiting. I called their registrars and they were not sure either.

The Knight of Delta.

I don't want to be quoted, but here is my take: Crusader, for the most part, since it has been placed on TS has been on a BID,.. signalling huge investors interest and potential for massive oversubcription of the coming offer. The other clue is that they may be working or finalizing agreements with foreign or local institutional investors that will be taking the most chunk of the offer ..."Think Preferential Allotment" .

Further on Preferential Allotment, Crusader is one I would consider an institutional quality stock with a gaint like the NSITF holding a huge stake of the company. I would expect that Crusader would allot shares to NSITF enough to at the least maintain NSITF current % holding.
I would consider mopping some shares of Crusader from the floors of the exchange now to avoid the inevitable blood bath that comes with allotments for oversbcribed issues . Personally I have since said goodbye to POs & PP.
I already foresee big money all over this offer. To help decide where or how to allocate funds between the PO or purchase stock through the exchange... you can use the "Public Offer Desicion Table" in the Financial Tools section of this link Nivestors - Resources .

For what it's worth this link Quotes | | Africa - Reuters.com hinted on where investors might be focusing on the next wave of financial sectors boom...mentions were made of Crusader and Cornerstone.

[knightofdelta]

Crusader Insurance is presently on offer:

Welcome to Fidelity Union Securities Limited

[riskreturn]

Originally Posted by ManIsland

I don't want to be quoted, but here is my take: Crusader, for the most part, since it has been placed on TS has been on a BID,.. signalling huge investors interest and potential for massive oversubcription of the coming offer. The other clue is that they may be working or finalizing agreements with foreign or local institutional investors that will be taking the most chunk of the offer ..."Think Preferential Allotment" .

Further on Preferential Allotment, Crusader is one I would consider an institutional quality stock with a gaint like the NSITF holding a huge stake of the company. I would expect that Crusader would allot shares to NSITF enough to at the least maintain NSITF current % holding.
I would consider mopping some shares of Crusader from the floors of the exchange now to avoid the inevitable blood bath that comes with allotments for oversbcribed issues . Personally I have since said goodbye to POs & PP.
I already foresee big money all over this offer. To help decide where or how to allocate funds between the PO or purchase stock through the exchange... you can use the "Public Offer Desicion Table" in the Financial Tools section of this link Nivestors - Resources .

I do not know yet concerning whether and to what extent the offer would be over-subscribed, particularly because I do not yet know the offer volunme and the offer projections as per offer Prospectus. However, I wish to point out that SEC rule has since outlawed preferential allotment. Second, the statement that "Crusader, for the most part, since it has been placed on TS has been on a BID,.." is a bit an over-statement as it was not until past few days that the stock started to be on a net bid. Hitherto (i.e., for the most part), it used to be on a net offer. Whether one should be "stockpiling" by buying from the secondary market at the TS price of 7.50 Naira is a issue best left for individual investors. But I feel that, by March 2009 (i.e., a year from now and if the present stock market situation still prevails), the stock would not likely trade above around 10 Naira. For a subscriber at N5, this would translate to a gain of 100% while, for a secondary market buyer @ TS price of 7.50 Naira, it would translate to 33% per year.