Crusader Nigeria Plc

[BLUEMONEY]

Originally Posted by knightofdelta

The treasury rates have dropped, which means that there is a higher demand for fixed income investments, of which this debenture falls... There is a still some risk with this investment anyway. I have not even seen the prospectus and I am supposed to be a shareholder. The company is not aggressive enough with the offering... so it may be undersubscribed.

And no matter how Aggressive thier Adverts and Marketing Gimmicks is, the investor has the final say and would have to push the last button whether to buy or not.

If not for the Underwriting law by the SEC, the offer of NSL Plc would have been Undersubscribed. So if this one is Underwritten, there is little chance for it to be Undersubcribed.

[emmanuel ewumi]

How do we see,Crusader rights and debenture.l am considering taking my rights and asking for additional rights.Although this is not the best time,to increase ones holdings in the stock market.But some thing tells me that this offer should fly.They arte using the proceed of the offer to mop up undervalued stocks,from the floor of the stock exchange.For people who are risk aversed they can buy the debenture,for a guaranteed return of about 12% per annum.

[hispy99]

6M RESULTS
N'000 N'000 N'000 N'000
Revenue PBT TAX PAT
30-Jun-08 6 Mths N2,811,000 N813,908 (N107,896) N706,012
30-Jun-07 6 Mths N1,760,000 N635,783 (N42,535) N593,248

[Michael]

Originally Posted by emmanuel ewumi

How do we see,Crusader rights and debenture.l am considering taking my rights and asking for additional rights.Although this is not the best time,to increase ones holdings in the stock market.But some thing tells me that this offer should fly.They arte using the proceed of the offer to mop up undervalued stocks,from the floor of the stock exchange.For people who are risk aversed they can buy the debenture,for a guaranteed return of about 12% per annum.

Looks good to me. Though you can get higher rates in the Money market, we don't know for how long.

[atilladanger]

Hi guys

If any one needs the prospectus to this offer or any information let me know
I work in Citi Investment Capital which is one of the Joint brokers for the issue and also a receiving agent so you can submit rights/ debenture forms through me.

have a nice day.

[Taipan]

Originally Posted by atilladanger

Hi guys

If any one needs the prospectus to this offer or any information let me know
I work in Citi Investment Capital which is one of the Joint brokers for the issue and also a receiving agent so you can submit rights/ debenture forms through me.

have a nice day.

Please dyou have the soft copy? Will it be possible to upload it on this site - if you do have it?
Thanks.

[knightofdelta]

Originally Posted by Michael

Looks good to me. Though you can get higher rates in the Money market, we don't know for how long.

The seemingly low rate is as a result of the convertibility feature. That has been priced into it. The money market rate are non-callable and non-convertible, so they are more or less straight bonds. A convertible option is an added advantage, which the investor has to pay for. If the convertibility is removed the real rate on the debenture would be like 17% (using zero-volatility spreads). 12% is good.

[knightofdelta]

Originally Posted by hispy99

6M RESULTS
N'000 N'000 N'000 N'000
Revenue PBT TAX PAT
30-Jun-08 6 Mths N2,811,000 N813,908 (N107,896) N706,012
30-Jun-07 6 Mths N1,760,000 N635,783 (N42,535) N593,248

This result is not interesting at all. Crusader is currently selling at a forward PE of 21x at current price. They need to work harder.