Primewaterview private Placement

[solainvest]

For complete details, click on:
Proshare News



Primewaterview private Placement opens
Posted Tuesday, October 7, 2008
PWV would be listed before March 2009 and would be paying dividend by Feb. 2009. It’s 9 months year to date figure shows that this is the offer of the year.


Of course there are quite a few offers in the market, but the competitive advantage Primewater View (PWV) fbelieve sit has are:


1. PWV’s profit margin is 2times that of UAC-Properties, the only listed property Development Company in Nigeria. UAC-Properties is trading at N27.18 while PWV is being offered at N3.90k per share


2. PWV’s PAT for 2007 at 2.23bn is over 208% that of UAC Properties at N1, 07bn. PWV is expected to deliver N6.74bn PAT for 2008 financial year.


3. PWV focuses on property development only in the Two Islands (now reputed as one of the top 3 most expensive islands in the world) as such; margins are expected to remain high due to strong market position of developers in this market.


4. PWV being a direct real estate development company (buy land, builds, finishes and sells completed apartments) captures value from the entire value chain and as such, is quite superior to REIT which largely invests in other developers’ projects and only participates in a limited segment of the value chain.


5. PWV limits itself to short duration high margin projects (usually 6 months). This result in higher turnover of capital within the year, hence its profit margin is more than 2 times that of UAC – Properties. Please see investment ratios below for why you shouldn’t miss out.




for further details, contact: BenedictOmonua@bankphb.com

[dejacrue]

this pp info sounds very interesting. is a naija with real estate invstmt abroad or something. we need more details. can benedicta omonua of bankphb send the PP Memo for all to download and view/analyst?

[Michael]

Originally Posted by dejacrue

this pp info sounds very interesting. is a naija with real estate invstmt abroad or something. we need more details. can benedicta omonua of bankphb send the PP Memo for all to download and view/analyst?

It is supposed to be illegal to advertise Private Placements. If you get in touch with her directly, she may be able to help you. But this is just my thinking.

[Wal Buffet]

I'm surpirsed that Ernst & Young acted as reporting accountants in the placement memorandum I read.
This coy made a loss of N167m in 2007 and projecting a profit of N3b in 2008??? The cashflow statement shows that all the turnover is just invoiced bills to some prospective off-takers, what a financial engineering? Invitees beware of this one!

[wale2me]

Dear Wal Buffet,

Please let us not make up things. The company did not make a loss of 167m in 2007.


There was a profit of 467m but the revenue reserve had a balance of -167m in 2006.

In 2007, there was a profit of 1.57b and the reservation balance had a balance of 1.4b.

Kindly do not stretch the facts; let people make up their minds without a bias.

I think the offer is closed anyway but facts must be kept sacred.

Please bear in mind that the company transformed from Tunji Ogunwusi & Co to Primewaterview Ltd. The best way to check out is to see the books pre-2006. Also note that the share premium reserve is not indicated.

But one more thing, thanks for igniting curiousity that made me check up the details.

Regards,