Afromedia PP

[Abinishio]

L&G,
Just learnt Afromedia Advertising is doing a PP.
Price is N2.95/share.
It is being handled by BGL & Ecobank.
Details are still scanty, but will try to get the PP Memo by morrow.
Will keep all posted.
Everybody should tap in on their contacts to get more details.

Cheers,
Abini

[Abinishio]

Originally Posted by Abinishio

L&G,
Just learnt Afromedia Advertising is doing a PP.
Price is N2.95/share.
It is being handled by BGL & Ecobank.
Details are still scanty, but will try to get the PP Memo by morrow.
Will keep all posted.
Everybody should tap in on their contacts to get more details.

Cheers,
Abini

House,
See PP docs attached

[zainabusman]

Originally Posted by Abinishio

House,
See PP docs attached

At a glance this looks like a very expensive PP with a 2008 PE of 26.5. Lets dig further and see whether it is worth it.

[faoogoke]

Originally Posted by Abinishio

L&G,
Just learnt Afromedia Advertising is doing a PP.
Price is N2.95/share.
It is being handled by BGL & Ecobank.
Details are still scanty, but will try to get the PP Memo by morrow.
Will keep all posted.
Everybody should tap in on their contacts to get more details.

Cheers,
Abini

Good digging Abinishio!

[tonidol]

Originally Posted by faoogoke

Good digging Abinishio!

Guys, is PP @ N2.92 not too high for a coy of this pedigree. They claim in their propectus they will apply for listing immediately after allotment which is slated for June 2008.

I believe when they eventually get listed, they will be in the same sector with Daar. I will do a further research on this coy but the PP price seem expensive.

Anyone with indepth details on their future prospects?

[Ladi Jay]

Originally Posted by Abinishio

House,
See PP docs attached

CAN SOMEONE HELP. THE ATTACHMENT CANNOT BE DOWNLOADED.

MAY BE IT CAN BE ATTACHED IN ANOTHER FORMAT.

STILL WAITING.........................FOR HELP.

[Apache]

Originally Posted by Ladi Jay

CAN SOMEONE HELP. THE ATTACHMENT CANNOT BE DOWNLOADED.

MAY BE IT CAN BE ATTACHED IN ANOTHER FORMAT.

STILL WAITING.........................FOR HELP.

I have been able to download it. see if you have a pdf reader installed on your system cos if you don't, you won't be able to read it

[faoogoke]

Originally Posted by tonidol

Guys, is PP @ N2.92 not too high for a coy of this pedigree. They claim in their propectus they will apply for listing immediately after allotment which is slated for June 2008.

I believe when they eventually get listed, they will be in the same sector with Daar. I will do a further research on this coy but the PP price seem expensive.

Anyone with indepth details on their future prospects?

Once again it is important to remind us not be believe everything we read in a pp prospectus especially concerning time of listing. The claim that they will list immediately after allotment is pure deciet.

[Abinishio]

House,
Please can we have a critical review of the PP fundamentals.
My openion is that this is expensive.
More views welcome

Cheers

[andico26]

In my own opinion the pp is expensive at PE of about 26. But who knows whether they will utilise the money effectively for expansion.
For the information of the house, spoke to a director of afromedia yesterday and he said anyone buying the pp should not buy more than 500,000 units. I guess that is the maximum for allotment

[zainabusman]

Originally Posted by andico26

In my own opinion the pp is expensive at PE of about 26. But who knows whether they will utilise the money effectively for expansion.
For the information of the house, spoke to a director of afromedia yesterday and he said anyone buying the pp should not buy more than 500,000 units. I guess that is the maximum for allotment

Yes u are right about the 500,000 maximum. In mail i received from BGL they clearly indicated the maximum is 500,000 units. I am happy they are doing this instead of collecting peoples money and sitting on it. In addition, they ensure they keep control.

[BLUEMONEY]

the offer price is kind of expensive but i am buying this one to keep for the long term.

[creflo]

very expensive considerring the risks , i dont see the media sector to be that money spinning . i think high cost of operations and competition make this an expensive offer. I think its because Eco bank underwrote at a firm basis. I am sure Afromedia is getting N2.50k or less.

[hispy99]

Afromedia Nigeria Ltd Private Placement
Posted Monday, May 26, 2008

Proshare Blog » Private Placements

Afromedia started as part of the UACN group in 1929, and is one of the most experienced out of home advertising agencies in Nigeria today, with a vision to be the preferred choice in the Out of Home media industry in Nigeria and West-Africa.

The company currently has over 1,000 billboards (the most by any company in Nigeria) spread over major cities across Nigeria, and has pioneered many initiatives in out of home advertising in Nigeria including the tri-face board, and illuminated advert sites.

Afromedia has a very experienced board. Members of the board including the chairman have been in the out of home media business for over 150 years collectively. The current management team is led by Mr. Akin Olopade(CEO) and Engr. Patrick Nwabunie(COO). Both managers have each been in the business for over 16 years.

In its bid to become the clear leader in the out of home media industry, Afromedia has secured the following rights, franchises and concessions in its various product segments:

50% right to all advertising in all airports in Nigeria for the next five years:

100% right to all advertisement in all Under 17 World Cup 2009 stadia to be hosted by Nigeria
Secured the second highest number of billboard points in Lagos State under the LASAA (Lagos State Signage and Advertisement Agency) initiative
Negotiating with other states to secure similar rights to strategic sites
Sole outdoor advertiser to Celtel in Nigeria and preferred choice for other countries where Celtel has business

Based on these rights, the Company is expected to make the following profits between 2008 and 2010- N397m(2008), N1bn(2009) and N1.5bn(2010).

The Company will list 3 months after the Private Placement is completed.

BGL, as Joint Issuing House to the transaction can guarantee allotment to investors that subscribe through BGL. The Private placement closes this week, on the 30th of May, 2008.

[bolajiedun2002]

does any one know how to get the afromedia private placement forms
i am deeply intersted

[hispy99]

Originally Posted by bolajiedun2002

does any one know how to get the afromedia private placement forms
i am deeply intersted

The docs were posted by Abinishio on the 5th. Check the posts above.

Good luck.

[solainvest]

BusinessDay... the voice of business - Return prospects of Afromedia Nig Limited