Visafone

[Wal Buffet]

As hipsy99 posted, let's even see the full PP memorandum. it think it will help members analyse objectively.
So can someone oblige this ASAP?

Happy New Year 2009 - for recovery of losses! amen!

[mosbe]

Originally Posted by hispy99

Visafone seeks N30bn through private placement
Monday, 05 January 2009 00:29 ABDUL IMOYO

After 10 months of operations that have seen its subscriber base growing to 2.4 million, Visafone Communications Limited, an indigenous telecommunications company, is set to raise over N30 billion through private placement of shares to a select group of investors.

These guys get mind Sha...

[kokoko]

Originally Posted by Babs_O

I will like to see the details too. But for just the fun of it.

Even if they show a PE of 3. and Price to book of about 1. I will not buy. Some how I think too many telecoms operators will lead to reduced profitability as they compete for customers while putting a lot of investment funds. I suspect Visafone will not be too profitable and they want to spread the risk and get more funds for fighting the battle for profitability (and perhaps take some profit in the process).

Based on my experience, all the networks are equally bad and I have finally settled for only one and didn't even claim the Etisalat free sim. The point I am trying to make is that telecoms is now practically a buyers market in Nigeria and I wonder where the fantastic profit to justify investment in Visafone PP will come from.
Anyway, I know Jim Ovia didnt factor a fry like me who pays for his own telecoms into the PP...Goodluck to the well-greased guys who want to ride in Visafone's train.

[phemmie06]

I think it will be better to think thrice this time around before buying any offer especially PP because of the market present position.
Moreover they might not get listed on time.

[donchisel]

Originally Posted by hispy99

Visafone seeks N30bn through private placement
Monday, 05 January 2009 00:29 ABDUL IMOYO

After 10 months of operations that have seen its subscriber base growing to 2.4 million, Visafone Communications Limited, an indigenous telecommunications company, is set to raise over N30 billion through private placement of shares to a select group of investors.

In my opinion, this sounds too similar to the Zenith Dividend we have been waiting for.

[Job]

Originally Posted by donchisel

In my opinion, this sounds too similar to the Zenith Dividend we have been waiting for.

Which Zenith Dividend? When there are better stocks in the Market that can brings greater return within few months rather than tying down capital waiting for years when Visafone will be getting listed before you will start counting your profit/loss. The pp might sound good to some people, but as for me bye bye to PP and IPO for now till market get better.

[muranay@yahoo.com]

Originally Posted by donchisel

In my opinion, this sounds too similar to the Zenith Dividend we have been waiting for.

That is it exactly, you better pray it get fully subscribed otherwise your Zenith dividen may not be paid until 2010.

[savvy]

Originally Posted by muranay@yahoo.com

That is it exactly, you better pray it get fully subscribed otherwise your Zenith dividen may not be paid until 2010.

I thought Visafone is an independent company without any direct relationship with Zenith bank?

[hispy99]

Originally Posted by zainabusman

Frankly, i have never made a call to a visafone number! So the 2.4 million is dodgy.

Have you made a call to a visafone # yet?

How times have changed. The PP thread was the most viewed, most read, most followed, most everything just 2 short years ago. Now?

[zainabusman]

Originally Posted by hispy99

Have you made a call to a visafone # yet?

How times have changed. The PP thread was the most viewed, most read, most followed, most everything just 2 short years ago. Now?

Now it is all but dead.

I still cannot recall making one.

[knightofdelta]

Originally Posted by zainabusman

Now it is all but dead.

I still cannot recall making one.

So far I receive calls from only one visafone line... wait a minute.. he works in Zenith. I have not called any visafone number either.

[c kenneths]

Maybe I am the only SMN membert that have never bought a PP. Never trusted them and just like to stick to the secondary market. Visafone might turn out great, but so we thought about Chams and other PPs of the past.

[blanka]

Originally Posted by knightofdelta

So far I receive calls from only one visafone line... wait a minute.. he works in Zenith. I have not called any visafone number either.

You know I never looked at it that way before! Here's one more individual who has never made a call to or received a call from a Visafone line.

[edwardaigbokhan]

I use MTN, Zain and Visa fone but i load 200 naira on the visa fone onces in 4 months while i load my mtn line every 2 days.