aso loans and savings supplementary offer, goldlink and sovereign trust insurance pp

[andico26]

Has anyone heard about the upcoming aso loans and savings supplementary offer at N2.30 a share subsequent to their listing on the NSE? Is the info outdated? I saw it on the SEC website on upcoming issues. i also saw the info on a new goldlink and sovereign trust pp. Pls i want more info on this upcoming pps
andico26

[faoogoke]

I made inquiries form the issuing house of their pp which close early this year. I was told that the offer is to absorb the excess of money they had during the pp.
I was also told that the listing of the shares should be around the first quarter of next year after which they intend having a public offer.

Cheers.

[balaliyu]

Aso savings annouced their allotment today. They plan listing before the year end.Lucky investors...I guess..

Cheers

B

[faoogoke]

Balaliyu,
How reliable is the information that aso loans will be listing this month? I thought I have a more reliable info that they would list first quarter next year. My source is works with the isuing house of the pp.I am excited about the info cos it's listing is the biggest pay cheque I will be having since I started playing in the market.

[faoogoke]

ALL,
Information just coming in is that Aso loans share certificates have been posted. I'll be checking my po box tomorrow!
The financials of the company is said to be juicy surpassing it's pp projections.
IPO is planned for later in the year, probably after the first half of the year.

[tucia25]

has anyone had of the sovering trust pp

[faoogoke]

Anyone in the house with info on the listing date for Aso loans It was said to have been discussed at the march 17 meeting of the exchange's quotation committee

[BLUEMONEY]

Originally Posted by faoogoke

Anyone in the house with info on the listing date for Aso loans It was said to have been discussed at the march 17 meeting of the exchange's quotation committee

wednesday next week is another meeting day for NSE Quotation committe. so let us keep our fingers crossed, something may happen.

[Eze Onwuamaeze]

Being unable to take advantage of the pp, how can I buy into the Aso Savingss and Loans before the IPO. Can someone help out pl.

[andico26]

aso loans and savings is listing on the 14th of this month. They have beeen cleared by the Nse.

[BLUEMONEY]

Originally Posted by Eze Onwuamaeze

Being unable to take advantage of the pp, how can I buy into the Aso Savingss and Loans before the IPO. Can someone help out pl.

well, andico26 just said they have been cleared by nse & will soon be listed so you can buy from the floor of NSE before they come out for their ipo. good luck.

[faoogoke]

Originally Posted by andico26

aso loans and savings is listing on the 14th of this month. They have beeen cleared by the Nse.

You seem very sure! Do you work for Aso loans? If you gave it right I'll give you something special

[faoogoke]

I called North Bridge, the adviser in charge of the listing of Aso loans shares and was told that they would have listed before now but because of some documentation issues.
He however said the very soon the shares will be listed. I just pray that that very soon is next monday. However, I believe the listing will not go past this month.

[polosco]

I read in the Daily Trust today that Aso will be listing soon as all the hurdles have been scaled, one of the hurdles is the splitting of the N1 par value to 50k value and that holders of the units are required to either buy the other half or resell their rights, i don't really understand this N1 par value issue as also the case with Valueline securities that has N1 par value. Can sm1 pls explain to us. Thanks.

[solainvest]

My understanding of Par value is that it is the nominal value of a share in their books.

In the case of ASO, each share is worth N1 in its books (since they sold with a par value of N1). Anything above that will be a premium.

The problem is that the stock exchange will only allow 50k par value to be listed on exchange.

eg. If a company has 1million authorised capital shares with par value of N1. It can only list on the exchange with par value of 50k. It will list 2 million shares.

When it goes listing on the Nigerian Stock Exchange, it will list 2 million shares. All existing shareholders will get new certificates with double the shares.

In the case of ASO, I don't understand what you said about buying the extra.... Is it possible you post the link to this article in the newspaper?

I hope my explanation above helped........

[BLUEMONEY]

your explanation above is correct. mr polosco should maybe reread the article once again becuase ASO did a PP with #i par value so if they are saying that investors should now come to buy back the other share after splitting will amount to deception on thier part. what we agreed by the application form that i filled was for #1 par value not #50 kobo. it is not done anywhere, investors are entitled to the other part after splitting. and after they have verified thier certificate, they can sell that other part. unless they are saying that they want to do a right issue so investors should either buy thier right or sell it to others

[polosco]

Tanx, i quite understand N1 par value this way, but that Daiy trust publication said investors will but the other part i believe it was an error or from sm1 who doesn't understand how it works, i read it from the hard copy thanks again.