Crystal Life Assurance PP

[solainvest]

Another insurance company on the block.....

Click on the link below for the memo.

https://www.cashcraft.com/CrystalifeInfoMemo.pdf

[hispy99]

Originally Posted by solainvest

Another insurance company on the block.....

Click on the link below for the memo.

https://www.cashcraft.com/CrystalifeInfoMemo.pdf

Thanks for this post, but these guys are living in lala land. Projected 2009 PE is 13.5 and I can count around 3-4 insurance stocks that have a lower or similar PE now. Projected PE in 2008 is 25 and there are at least 10 insurance firms with lower projected PE's for 2008.

[c kenneths]

Are they still pushing for people to buy PP's after what happened with some of the most recent PP that were done this year?
Soon you will see investors lining up to subscribe without doing their due diligence checks, hundreds of millions of =N= are still trapped in some PP that are not ready to list soon, not in this bear times. Like Hispy said, there are far better stocks listed on the floor that can give an investor more value for his money.

[BLUEMONEY]

I Love Buying PP But Unfortunately I Wont buy this one not only for the Reasons Hispy99 has stated but because of the sector this company will be listed.

The days when good money is made from insurance PP in Particular is fast coming to an end. The most recently listed insurance companies like Regency insurance PLC, IAA PLC etc have all made it clear that buying insurance PP is not really worth the risk.

The Reason Unity Kapital insurance have not listed yet even though they have been cleared to list is because of the market condition coupled with the fact that almost every stock in that sector tend to follow thesame direction, Whether newly listed or not they all seem to have thesame price ceiling as resistance.

[hispy99]

Crystalife to list on the Exchange in Q2 of 2009
Posted Thursday, October 23, 2008

PETER OBIORA



Proshare NI



October 23 2008 at 20:00 GMT











Crystalife Assurance Company Limited, (formerly Equity Life Insurance Company Limited) has promised to list its shares by introduction on the Floors of the Nigerian Stock Exchange (NSE) in the second quarter (Q2) of year 2009.







This is contained in a Private Placement (PP) Memorandum dated September 2008 and made available to Proshare NI in Lagos Nigeria.







“The shares of Crystalife Assurance are not currently listed on the Floors the NSE, however, the company intends to list its shares by introduction within six months of the conclusion of the Placement” the document affirmed.







Crystalife Assurance Placement had since opened October 02, 2008 and would close November 14, 2008 indicating that by May 2009; which is six months from the closure of the Placement, the company would list its shares on the Nation’s Stock Exchange.







As earlier reported by Proshare NI, Crystalife Assurance is seeking to raise N5.440 billion through a Placement.





The newly re-branded insurance firm in order to raise the N5.440 billion has offered to a select group of potential investors 2,000,000,000 Ordinary Shares of 50 Kobo each at N2.75 Kobo per share.







The unit of sale is a minimum of 20,000 Ordinary Shares and multiplies of 10,000 thereafter.







Also as earlier reported by Proshare NI, the insurance company has projected to give its investors 18 Kobo dividend payout in its 2011 Financial Year End (FYE).







While its Shareholders are also expected to receive 8, 12 and 15 Kobo dividend in years 2008, 2009 and 2010 FYE’s respectively.







The company further affirmed that the Placement is a key step towards fulfilling its strategic goals of placing the itself in a good position to compete effectively in the emerging local insurance market.







Before this time, Crystalife Assurance had concluded a Rights Issue and its undertaking the Placement in order to raise a total of N6.850 billion to ensure the company achieve its set goals.







Lead Issuing House to the Placement is Skye Financial Services Limited, while Joint Issuing House is Cashcraft Asset Management Limited

[BLUEMONEY]

When they say they will list in six Months, Investors should have 1 Year Plus at the back of thier mind because they never keep to thier word.