Beco Petroleum Plc

[Avemercy]

I'm hearing rumour that this company is doing a PP at N3. Anybody with info on this?

[Avemercy]

This is a pure family business dealing in pertoleum products importation and marketing with a depot in lag and some few filling stations.

Guys, please, dig out for more info especially the prospectus for the guru in the house to analyse.


::: Beco Petroleum Products Limited :::

[newton]

Posted by Princebade

Beco Petroleum PP

Guys Beco Petroleum's PP is already going on and the forms are out there. My stockbroker got just one form and I'm yet to get any. It's sold at N3.50/share and the min is 100,000 units. The company seems more of a family biz and this is my concern. They have been in business for a while though with their filling stations in various parts of the country. What would u guys advice pls?

[Abinishio]

Originally Posted by Avemercy

I'm hearing rumour that this company is doing a PP at N3. Anybody with info on this?

Is it every PP we hear we just jump.
This coy as far as i'm concerned is just a briefcase company.
I'm keeping away from this one.

cheers

[BLUEMONEY]

Originally Posted by newton

Posted by Princebade

Beco Petroleum PP

Guys Beco Petroleum's PP is already going on and the forms are out there. My stockbroker got just one form and I'm yet to get any. It's sold at N3.50/share and the min is 100,000 units. The company seems more of a family biz and this is my concern. They have been in business for a while though with their filling stations in various parts of the country. What would u guys advice pls?

Please collect the form and the prospectus together if you can so that we can analyse this PP and know if it is worth the price.
i must also say that PP these days are becoming unneccesarily too expensive. imagine NEGRIS that is worth #1.95kobo by my calculations is selling for #18 just because they are looking for #60 billion. when what they should have done was to issue more shares and price the PP properly.
so please try and collect the prospectus from your broker.

[yusuff]

@Newton
who is issuing house and how can one get in

[babatundecaleb]

Originally Posted by yusuff

@Newton
who is issuing house and how can one get in

Any information about the Issuing House/Prospectus and Applicatn Form? Tanx.

[yusuff]

i called one the phone no on their website, it happened to be the MD.He confirmed that the pp is starting June 16 and to last three weeks.N3.5/units,50k par value and minimum of 100,000 .Issuing house is Valueline sec.

[babatundecaleb]

Originally Posted by yusuff

i called one the phone no on their website, it happened to be the MD.He confirmed that the pp is starting June 16 and to last three weeks.N3.5/units,50k par value and minimum of 100,000 .Issuing house is Valueline sec.

Thank u very much for a job well done.

[azob2002]

This is quite weird!!! i dont see myself going for this at this price... maybe am just following my instints, does anyone see waht am seeing.

Tread with caution!!!

[hispy99]

Originally Posted by Abinishio

Is it every PP we hear we just jump.
This coy as far as i'm concerned is just a briefcase company.
I'm keeping away from this one.

cheers

I won't be surprised if you are correct..in fact, I'll be surprised if you are wrong

[Abinishio]

Originally Posted by hispy99

I won't be surprised if you are correct..in fact, I'll be surprised if you are wrong

My brother!
Na wa ohh.
Nobody seemed to take me serious wen i made my comments.
This Beco Pet, is just a small time coy trying to cash in on the PP wave.
It just ludicrous that a company like this is coming to do PP.
They have been idle/domant for years, and nw want public money to chop & quench.
Not mine - Stay clear

AB

[hispy99]

Originally Posted by Abinishio

My brother!
Na wa ohh.
Nobody seemed to take me serious wen i made my comments.
This Beco Pet, is just a small time coy trying to cash in on the PP wave.
It just ludicrous that a company like this is coming to do PP.
They have been idle/domant for years, and nw want public money to chop & quench.
Not mine - Stay clear

AB

You only need to check the link that AveMercy posted on the company's website. They have six, can you imagine, 6 service stations! They used to have one right across my parents house back in days along the Oshodi/Apapa Expressway (I believe it is no longer in existence).

No need for me to even analyze the prospectus when it is ready...If they like, let the prospectus show the forward 2008 PE as 1 (yes, I said 1 ), I am just not interested in this family business. I can put my N350k into better and safer use in the secondary market.

my 1.5 kobo

[eazikoncepts]

Just confirmed again this morning that this PP will officially open tomorrow.
N3.50 per share.-minimum of 100,000 units. Lead issuing house is Valueline.
We shall see what they've got to offer. I read the special pull out interview of the coy's MD interview- published in THISDAY on sunday-15th June, 2008.The MD is the son of the founder of the coy.The presnt board is chaired by Shehu Musa ?

[solainvest]

BusinessDay... the voice of business - Beco acquires N1billion petroleum vessels

[saintkayode101]

Originally Posted by solainvest

BusinessDay... the voice of business - Beco acquires N1billion petroleum vessels

Thanks for the article. Please, anyone with a copy of the prospetus for this family or otherwise business.

[kenebobo]

What I have to say about this PP is that Nigerians love oil company stocks especially the cheap ones. No matter the fundamentals, people would still struggle for it eg eterna oil, Capital oil , Afro oil. If you are buying it for Fundamental reasons then dont buy, but if you are buying it on speculation then I can say you should try your luck and be surprised how nigerians would struggle for it when it hits the market not minding the Fundamentals.

I could have bought some units but I am a 100% secondary market investor.

[Toby Uchenna]

Because it's a family business does not make it a bad investment. In fact, I find that reasoning silly since all successful publicly traded companies start out as family or otherwise private companies.

I happen to know that Beco has a solid reputation and is run by capale hands. I heard that the CEO and MD are committed to maximizing shareholder value. I expect the share price to soar in the near future.

Someone must know something because I understand that some investors have already snapped up 20% of the shares. I will invest heavily in this company and advice everyone to do the same.

[hispy99]

Originally Posted by Toby Uchenna

Because it's a family business does not make it a bad investment. In fact, I find that reasoning silly since all successful publicly traded companies start out as family or otherwise private companies.

I happen to know that Beco has a solid reputation and is run by capale hands. I heard that the CEO and MD are committed to maximizing shareholder value. I expect the share price to soar in the near future.

Someone must know something because I understand that some investors have already snapped up 20% of the shares. I will invest heavily in this company and advice everyone to do the same.

Good luck investing heavily and hopefully, you won't lose your shirt.

[Toby Uchenna]

Hisppyy99,

I don't know why you are so negative about this company. Do you have something personal against them? The station in Alasia is alive and well. You are as wrong about it being closed as you are about everything else. When last were you in Nigeria? The company just acquired two new vessels valued at over 1 billion Naira. How many other petroleum marketing companies can boast of that? Wake up and smell the coffee and stop bashing a company you know nothing about. If you don't know enough perhaps you should be quiet.