Portland Paints and Products Nigeria Ltd

[newton]

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

[BLUEMONEY]

Mr Newton thank you very much.

[zainabusman]

Originally Posted by newton

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

Thanks. But why would anyone want to subscribe to this kind of deal? Are people so desperate for PP's that they will be willing to let go off as much as 40% of the upside? The only winner here is Afriinvest. They get to make money without taking any risk. Nice try.

I will not go near this one.

[Abinishio]

Originally Posted by newton

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

L&G,
My personal view here is that this is a grand scheme designed by AWA to ripe where they did not sow.
They want to hedge their risk by selling high and still getting a % of upside when listed. It’s like eating your cake and having it.
They are not confident of this offer or won't want to expose themselves to money market character (bank interest etc), they have looked at the mkt and believe the investing public is gullible enough to jump on this and they still clean out both ways.
My advise to all is let these fat cats eat themselves, let the money bags mop it up and they feed from themselves.
Really what are the fundamentals of this PPPNL, they just quote some fancy words and expect us all to come running.
My money no go smell there lai lai.
Sha’ga dan banza (excuse my language) I’m really mad at the guts they have.
Please all should shawn this PP/IPO/PO/Rip Off/DPO etc.

[en_y]

chei... see wayo... which ever way.. na Afrinvest win.. limited info about the company.... dem just say come buy and we go share capital appreciation.. id rather buy Afrinvest shares make i know say me sef dey on the other side...

[hispy99]

Originally Posted by en_y

chei... see wayo... which ever way.. na Afrinvest win.. limited info about the company.... dem just say come buy and we go share capital appreciation.. id rather buy Afrinvest shares make i know saw me sef dey on the other side...

I agree..

Why will they show Turnover and Total Assets from 2003 but not PAT? The only thing they show for PAT are "projections", what about the "actuals"?

[en_y]

Originally Posted by hispy99

I agree..

Why will they show Turnover and Total Assets from 2003 but not PAT? The only thing they show for PAT are "projections", what about the "actuals"?

from the projection.. projected 2008 PBT is 276 million. Using tax of 32% gives a projected PAT of 188million.. Shares outstanding is 40,000,000 which gives a projected EPS of 4.7.. meaning the forward 2008 PE at offer price of N85 is 18... however, u need to pay a lot more than 85 naira.. for option 1, u will pay 100 naira (nothing more if u transfer the shares immediately it is listed)..this gives it a Forward PE 2008 of 21... (at the entry price).. this PE will be higher if u transfer the shares after high capital appreciation...

The market is overvalued and bull run last yr and early dis yr has made evryone to do PPs and POs with massive oversubcription and return money.. thats why we are seeing PPs with forward PEs as high as 30.. when chams has a forward PE of 4...

compared to other PPs we have been seeing recently, its not that bad.. but i just dont like the structure Afrinvest is using to sell it.. they shld hav just done it like a normal PP and sell at a price they deem fit.. whether it is 85 or 105, then they will co convince NSE quotations committee to list at that price..

Most fund managers charge about 10% of profit from what was invested.. Afrinvest wanting as much as 40% for 200% returns after collecting N15 premium (18%) is just too much.. ha ba....

[creflo]

I am happy that we have analysed this offer for what it is. they are just running away from any risk . anyway this thing turns out they win. I dont need to look at the projections myself becuase that company and the offer (the way it is handled) doesnt tell me anything except this is a very risky offer for me. againg forget about listing timetables b.c we in this forum know that cannot be trusted. Anyway I think members should stay away from that offer so we can teach these guys a lesson that we know where to put our money. i think we have better alternatives all around us.

[tonidol]

Originally Posted by newton

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

What sort of complex arrangement is this?

[ttoladele]

Originally Posted by newton

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

What an ingeniously pakaged 'legitimate scam', i won't touch it with a barge pole. Lets move on please.

[solainvest]

Originally Posted by newton

Heard of this coy's pp, its being handled by Afriinvest WA.

See details in attached files...

Many thanks for bringing this to our knowledge.

I read through with keen interest and it would have been a perfect transaction if Afriinvest were not asking for the share of profit after it is listed.

This is the first of its kind. Imagine they want to take 40% if it rises to a point. Why can't they just buy the 8 million units without inviting anybody.

The interesting part is that the share capital of the company seems to be 40 million units. I arrived at this by using 20% which was 8 million units.

I wonder what the par value of each share will be. There might be lots of splits before the actual listing.

Hmmmmm...... For anybody interested, it might be possible to negotiate the brokerage fee (all fees are negotiable).

[fredski]

This made intereting reading. It's a very SWEET DEAL yes, but all for Afrinvest.
Heads they WIN Tails the WIN SWEET

Reminds one of the white mens acts when they first Landed. "Close your eyes let us Pray they said "

[newton]

Hi all,

Pls disregard d .doc file in the earlier attachment.(appparently its not part of d offer details, a friend who wks their tried to introduce his margin...)

Find attached d application form...

If u've got any1 at Afrinvest try n seek details from them...

[solainvest]

Originally Posted by newton

Hi all,

Pls disregard d .doc file in the earlier attachment.(appparently its not part of d offer details, a friend who wks their tried to introduce his margin...)

Find attached d application form...

If u've got any1 at Afrinvest try n seek details from them...

@ newton,

I am confused.

If we do away with the .doc, does it mean all those brokerage fees & paying on listing does not apply?

Is it just open? What is in it for Afriinvest?

[fredski]

Kudos for you effort..........

Same as before.. Would make a nice set of figures for the books with Absolute Zero Risk.

Heads they Win Tails they Win..............

[en_y]

Now the offer makes sense.... It has a foward PE of 18... High for a private placement but much much better than most of the ones being sold around...