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  #1 (permalink)  
Old 26th November 2008, 04:21 PM
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Default Assetwise Capital Limited PP

Worthy of note are the companies they have interest in:

Assetswise Capital Limited has investments in 4 Companies as follows:
- Homebase Mortgage Limited – 25%
- Cowry Asset Management Limited - 10%
- Eartholeum Networks Limited – 45%
- Scintilla Limited - 40%
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Old 26th November 2008, 05:24 PM
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Default Re: Assetwise Capital Limited PP

Quote:
Originally Posted by solainvest View Post
Worthy of note are the companies they have interest in:

Assetswise Capital Limited has investments in 4 Companies as follows:
- Homebase Mortgage Limited – 25%
- Cowry Asset Management Limited - 10%
- Eartholeum Networks Limited – 45%
- Scintilla Limited - 40%
I wonder how this company can justify the 10 kobo premium thay are requesting for this PP after operating for under a year. There figures look like those just plucked from thin air. They mentioned recovery of operational costs from the proceeds of the PP of which 65% is for Staff and Corporate expenses. They invest in Cowry Assets and at the same time obtained loan facilities from the same company. There are a lot of discrepancies and Financial Engineering that has gone into this account.

I wish the chaps goodluck. Me I vote with legs on this one!!

Last edited by ayemco; 26th November 2008 at 05:26 PM.
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Old 5th December 2008, 01:59 AM
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Default Re: Assetwise Capital Limited PP

Assetswise Capital ends N1.650 bn Placement tomorrow

PETER OBIORA

Proshare NI

December 03, 2008 at 14:02 GMT


Assetswise Capital Limited (AssetswiseCAPITAL) N1.650 billion Private Placement (PP) will close tomorrow December 05, 2008. This was contained in the Placement Memo made available to Proshare NI in Lagos Nigeria.

To raise the N1.650 billion, the Private Equity Company is offering to select investors 1.5 billion Ordinary Shares of N1.00 at N1.10 Kobo per.

Already the company affirms it has an Authorised Share Capital of N2.0 billion comprising of 2.0 Ordinary Shares of N1.00 each. While N500 million comprising of 500 million Ordinary Shares of N1.00 each has been issued and fully paid up.


From the Profit Forecast made available to Proshare NI, AssetsCAPITAL has projected to give its investors a 29 Kobo dividend payout in year 2010/2011 Financial Year Ends (FYEs).

While it is expected to pay 0.8 and 21 Kobo as dividend to its shareholders in years 2008/2009 and 2009/2010 respectively.


Income is expected to increase from N1.765 billion in year 2008-09 to N10.790billion in year 2010-11 indicating an increase of 511 percent in the forecast period.

Profit before Tax (PBT) is also projected to rise from N686.664 million in year 2008-09 to N5.269 billion in year 2010-11 showing an expected rise of 667.46 percent.

AssetsCAPITAL has also projected a growth in Profit after Tax (PAT) from N480.665 million in year 2008-09 to N3.688 billion in year 2010-11 representing a growth of 667.46 percent in the forecast period.

As part of its strategy, the company affirmed it plans to increase Assets under Management to about N8.0 billion by end of 2008-09 periods.


While hoping to increase same in the next five years to about N148 billion.


To achieve the above, AssetsCAPITAL already holds 25 percent stake in Homebase Mortgage Limited- a recently recapitalised Mortgage Bank.

Further, the company has about 10 percent stake in Cowry Asset Management Limited, a leading firm of Stock Brokers and Asset Managers and 45 percent in Eartholeum Networks Limited, a start-up e-commerce and m-commerce company, and a 40 percent stake in Scintilla Limited, owners of Scintilla Arena an entertainment services provider.

However, a unit of sale are a minimum of 20 million shares and multiplies of 1.0million thereafter. Access Bank Plc is the Issuing House to the Placement.

Without prejudice, Proshare NI cannot confirm these claims as at the time of filling in this report
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Old 15th December 2008, 09:32 PM
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Default Re: Assetwise Capital Limited PP

AssetCapital N1.6 bn Placement still on
Posted Saturday, December 13, 2008

PETER OBIORA


Proshare NI


December 13, 2008 at 10:52 GMT


AssetswiseCapital Limited (AssetswiseCAPITAL) N1.650 billion Private Placement (PP) which has officially ended December 05, 2008 as contained in the Placement Memo made available to Proshare NI in Lagos Nigeria is still on.

This was confirmed to Proshare NI by an official of Access Bank Plc, the Issuing House to the Placement.

“It is true that the Placement on paper has officially ended, but I can assure you that we are still open to select investors who might be willing to take part in it” the official affirmed.

To raise the N1.650 billion, the Private Equity Company is offering to select investors 1.5 billion Ordinary Shares of N1.00 at N1.10 Kobo per.

As earlier reported by Proshare NI, already the company affirms it has an Authorised Share Capital of N2.0 billion comprising of 2.0 Ordinary Shares of N1.00 each. While N500 million comprising of 500 million Ordinary Shares of N1.00 each has been issued and fully paid up.

The company had earlier confirmed that the proceeds of the Placement would be used to recapitalise AssetCAPITAL and increase its working capital.

As at the time of filling in this report, our source at Access Bank, Issuing House to the Placement could not confirm when it would finally come to a close.
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Old 15th December 2008, 09:34 PM
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Default Re: Assetwise Capital Limited PP

Quote:
Originally Posted by hispy99 View Post
AssetCapital N1.6 bn Placement still on
Posted Saturday, December 13, 2008

PETER OBIORA


Proshare NI


December 13, 2008 at 10:52 GMT


AssetswiseCapital Limited (AssetswiseCAPITAL) N1.650 billion Private Placement (PP) which has officially ended December 05, 2008 as contained in the Placement Memo made available to Proshare NI in Lagos Nigeria is still on.

This was confirmed to Proshare NI by an official of Access Bank Plc, the Issuing House to the Placement.

“It is true that the Placement on paper has officially ended, but I can assure you that we are still open to select investors who might be willing to take part in it” the official affirmed.

To raise the N1.650 billion, the Private Equity Company is offering to select investors 1.5 billion Ordinary Shares of N1.00 at N1.10 Kobo per.

As earlier reported by Proshare NI, already the company affirms it has an Authorised Share Capital of N2.0 billion comprising of 2.0 Ordinary Shares of N1.00 each. While N500 million comprising of 500 million Ordinary Shares of N1.00 each has been issued and fully paid up.

The company had earlier confirmed that the proceeds of the Placement would be used to recapitalise AssetCAPITAL and increase its working capital.

As at the time of filling in this report, our source at Access Bank, Issuing House to the Placement could not confirm when it would finally come to a close.
Ths is a never ending PP. My people, help these people end this PP by subscribing o I know we have some "select" investors here that will be allowed to invest in th PP at this point.
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"The one absolute requirement of a money manager is emotional maturity. If you don’t know who you are, the stock market is an expensive place to find out." - Adam Smith
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Old 16th December 2008, 07:59 PM
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Wink Re: Assetwise Capital Limited PP

Quote:
Originally Posted by hispy99 View Post
Ths is a never ending PP. My people, help these people end this PP by subscribing o I know we have some "select" investors here that will be allowed to invest in th PP at this point.


Dumping N11 million minimum for a PP at this period nor be Joke oo.
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