Japaul Oil

[hispy99]

Originally Posted by Dragon123

Have you decided to come on board now? Remember you agonised earlier on the high price of the stock. I think SEC usually waives the 25% rule if they are convinced by the company wishing to absorb oversubsciption as they must have done for Oceanic bank and probably ACCESS too.

My broda,

I still dey side lines o....i know the price don drop, but i dey pursue other opportunities..make i leave dis one for u guys

[pumping]

Originally Posted by crtide

The sec rule came up after the oceanic IPO and before first bank's. So first bank did not absorb more than 25% of oversubscription. They applied to absorb 50% and they were turned down. Do not forget, it is 25% of your oversubscription. It would even be more than your original offer if it is more than 400% oversubscribed. That was the case with firstbank

Hmm. I don't think this is correct. The rule came before First Bank and Oceanic's PO. The allotment date is not important here. First Bank did absorb much more than 25%.

First Bank's PO offer was for around 1.6B shares but they issued another 4.5B in the supplementary allotment. This is a whopping 279% that was absorbed from the oversubscription. This is about all they could absorb anyway because it makes the issued share capital become 18B+ leaving less than 2B remaining. Their total is 20B. This would not have been enough to absorb everything and in any case, they will want to leave some room.

The 25% rule applies to the original offer.

[pumping]

Originally Posted by Dragon123

Have you decided to come on board now? Remember you agonised earlier on the high price of the stock. I think SEC usually waives the 25% rule if they are convinced by the company wishing to absorb oversubsciption as they must have done for Oceanic bank and probably ACCESS too.

I don't think there has been any case in which a waiver has been granted.

[nezvest]

Originally Posted by hispy99

Isn't there a SEC rule that you cannot absorb more than 25% of oversubscription?

Does the rule work? Was it applied in FBN public offer? I want to know.

[Betiku Franklin Olugbenga]

@DRAGON123
Have faith my friend
japaul can do lower than N9 for the ideal entry point

[Dragon123]

Originally Posted by Betiku Franklin Olugbenga

@DRAGON123
Have faith my friend
japaul can do lower than N9 for the ideal entry point

Thanks my brother. But why is it dropping? I had thought it was as a result of the profit takers. Could it be as a result of the announcement of the MD that a large chunk of the over subscription would be absorbed? What do you think is the best thing to do: sell now to re-enter at below N8, or hold and buy more when it drops to that level?

[edwardaigbokhan]

why all this fuss about japaul? i think it is too high

[Geeman]

I got a call from my stock broker this evening. Japaul is returning money for units above 50,000. It proposes to retain the balance over 50,000 units applied for and intends to do a PP later in the year at 3.99 per share to absorb that balance. You must sign a letter consenting that they hold unto the balance of the money pending the PP otherwise the moeny will be returned. I have been sent the letter, I am reluctant to sign since I don't know when the PP will take place.

[Dragon123]

Originally Posted by Geeman

I got a call from my stock broker this evening. Japaul is returning money for units above 50,000. It proposes to retain the balance over 50,000 units applied for and intends to do a PP later in the year at 3.99 per share to absorb that balance. You must sign a letter consenting that they hold unto the balance of the money pending the PP otherwise the moeny will be returned. I have been sent the letter, I am reluctant to sign since I don't know when the PP will take place.

I dont understand this. Can a company already listed go back to do a private placement again? I doubt, but Senior Members may kindly wish to enlighten us.

[nezvest]

Originally Posted by Dragon123

I dont understand this. Can a company already listed go back to do a private placement again? I doubt, but Senior Members may kindly wish to enlighten us.

I guess there in a misunderstanding here, I dont think it is possible to do PP after PO. Call back and get the actual massage or be careful.

Abi? Big boys in the house?

[Geeman]

Originally Posted by nezvest

I guess there in a misunderstanding here, I dont think it is possible to do PP after PO. Call back and get the actual massage or be careful.

Abi? Big boys in the house?

What is wrong with that? Guinea Insurance did it last year.

[hispy99]

Originally Posted by nezvest

I guess there in a misunderstanding here, I dont think it is possible to do PP after PO. Call back and get the actual massage or be careful.

Abi? Big boys in the house?

I think that is what they are doing....a company can "privately" place it's shares with investors, there's no problem with that. Banks in the U.S have been raising massive capital and they did not do a PO. All they did was call some rich Arab governments and sold shares to them (so this can also be considered "private placement"). Nothing stops a company from selling stock to identified/prefential investors.

[obinnaD]

Originally Posted by Geeman

I got a call from my stock broker this evening. Japaul is returning money for units above 50,000. It proposes to retain the balance over 50,000 units applied for and intends to do a PP later in the year at 3.99 per share to absorb that balance. You must sign a letter consenting that they hold unto the balance of the money pending the PP otherwise the moeny will be returned. I have been sent the letter, I am reluctant to sign since I don't know when the PP will take place.

Hey Geeman,
What happens to people like us that bought through the banks and not through any broker? How do we get to find and sign the consent form? Can you upload it here so we can have copies?
Thanks

[ikpong]

Unless you are in dire need of having your money for a more lucrative stock, I'd advise you to sign on for the pp. Japaul is a company in the supernormal growth period, which translates into serious gain for you in the long run. It is a better option than putting money into some of the bank offers.

[aogundele]

Originally Posted by ikpong

Unless you are in dire need of having your money for a more lucrative stock, I'd advise you to sign on for the pp. Japaul is a company in the supernormal growth period, which translates into serious gain for you in the long run. It is a better option than putting money into some of the bank offers.

I agree with Ikpong, it makes absolute sense to to sign on for the PP. Any ideas on when they'll publish the allotment results?

[crtide]

Originally Posted by ikpong

Unless you are in dire need of having your money for a more lucrative stock, I'd advise you to sign on for the pp. Japaul is a company in the supernormal growth period, which translates into serious gain for you in the long run. It is a better option than putting money into some of the bank offers.

Do you know what percentage of over 50K units will be refunded. By that i mean, If I applied for 100k units will I get just 50k units or 50k units min plus a percentage of the remaining 50K units