Bgl Securities Pp

faoogoke · #1 (**permalink**) 6th December 2007, 03:35 PM

ALL,
BGL securities commenced it's private placement last month and should end on the 14th of this month. It's 50k share for N7.00. Minimum is 1,000,000 units!
You can get all the details at their web site, BGL Limited.
It's doesn't look good to me. I mean the price, the fact that the shares will not be split upon listing (They propose to list between 18 - 24 months from now) and the dividend projection.
The gurus in the house should know better.

pumping · #2 (**permalink**) 7th December 2007, 02:25 AM

Quote:

Originally Posted by faoogoke

ALL,
BGL securities commenced it's private placement last month and should end on the 14th of this month. It's 50k share for N7.00. Minimum is 1,000,000 units!
You can get all the details at their web site, BGL Limited.
It's doesn't look good to me. I mean the price, the fact that the shares will not be split upon listing (They propose to list between 18 - 24 months from now) and the dividend projection.
The gurus in the house should know better.

I think it is a good offer. Did you look at the numbers? I don't expect the stock to be listed less than N20 in 2 years time. That said, I am sceptical of PPs. Tying down at least 7M for so long is an issue. They may not be listed for even 4 years! Then what??

blanka · #3 (**permalink**) 8th December 2007, 10:16 PM

BGL...Hmmm....The earnings yeild at offer price at 10.4% is good enough,but the div yeild is poor(especially considering that the only way to be getting returns for the next 18-24 months might be through Divs)....ROE last 5yrs not too impressive...but again the brand is strong...one thing worries me though and that is : PAT going from 596million to more than 7billion in one year???? Likewise gross earnings from 3B to more than 22B???

olalekan123456 · #4 (**permalink**) 11th December 2007, 06:04 PM

Blanca,

I have same concern too. What did they do in one year to grow such asset and profit. When I see such things, I get worried. I do not have time to analyze and dig into them right now, but something shady is up. I will advise a thorough due diligence before investment.

Apache · #5 (**permalink**) 11th December 2007, 06:27 PM

common guys, the projection of PAT is after raising over =N=29b through this pp. You are seeing an astronomical growth in capital for the business which will lead to an astronomical growth in profit. Nothing shady

madeonline · #6 (**permalink**) 31st December 2007, 09:38 AM

If you want to stake less than 7m in the stock to minimize your risk you could get in touch with me and i woul teach you how. I have gone through the prospectus and it is impressive.

Babs_O · #7 (**permalink**) 3rd January 2008, 08:36 PM

Considering N7m needs to be tied down and the yield just fair. May not be excited about it. And I don't like the pulling of funds sort of thing.

BigSeun · #8 (**permalink**) 9th January 2008, 04:08 AM

How realistic are the forecast in the prospectus? It's looks too ambitious.
Have anyone gone thru the cashflow statement for last financial yr, you will observe that an issue of share was done last year at a price below the par value of the share (N1). What value have been added to the company between that period and now, to warrant offering the shares for N7?

ovuthethird · #9 (**permalink**) 22nd February 2008, 12:20 PM

The BGL guys are at it again. Guess we would not fall into the 'analysis paralysis" syndrome. As at today, they have a shareholders' fund of over N17 billion which they intend to grow to over N54 billion after the PP. Dont also forget that the prospectus informs us that the company has being unbundled into BGL Asset Management Limited, BGL Private Equity Limited, BGL Securities Limited and BGL Limited. All these market segments are still developing and have room to accomodate the likes of BGL. I even hear they are listing the shares bewteen N20 and N30. The only comparable in the stock market is probably Deap Capital that has less than N5 billion shareholders' fund, but the share price hovers around N10.

mojiet · #10 (**permalink**) 22nd February 2008, 02:45 PM

Please is this placement still on?

faoogoke · #11 (**permalink**) 25th February 2008, 08:06 AM

Quote:

Originally Posted by mojiet

Please is this placement still on?

It's been concluded a long time ago.

Apache · #12 (**permalink**) 25th February 2008, 08:35 AM

Quote:

Originally Posted by faoogoke

It's been concluded a long time ago.

I think it's still open. was discussing with someone over the weekend and he said one can still get in

newton · #13 (**permalink**) 25th February 2008, 09:19 AM

Yeah u can still key into bgl sec. check their website, pick up d prospectus n call any of the contact details there.

faoogoke · #14 (**permalink**) 25th February 2008, 09:47 AM

This is interesting. It's continued sale could be as a result of undersubscription.

idowu_k · #15 (**permalink**) 25th February 2008, 10:16 AM

From the trend of members' discussions, participating in the coy's pp will be a rewarding investment in the long run. My appetite is already wet by your intelligent analyses.

Could somebody in the house help with the BGL Security's website?

mojiet · #16 (**permalink**) 25th February 2008, 01:25 PM

Thanks to everyone I shall try and see what i can find.

newton · #17 (**permalink**) 25th February 2008, 01:33 PM

BGL Limited

Apache · #18 (**permalink**) 25th February 2008, 01:47 PM

I think there's already a BGL pp thread in this forum bcos i can remeber i got the prospectus from this site. for those that are want the prospectus, you will have to search the forum for that BGL pp thread. If you can't find it, then i will post it here.