Sterling Assurance PP

[madeonline]

Has anyone read through the prospectus for the above named. Kindly avail me a soft copy alternatively you could pls hint on the closing date and minimum number of units and brief summary.

Thanks

[naomi]

hi, pls avail me any info you receive about sterling assurance pp, also is the Lbic pp closed?
Thx.

[Avocado]

naomi: Your LBIC question answered on this thread: http://www.stockmarketnigeria.com/fo...quote=1&p=7924 ; you should ask your broker though; it may still be on.

No info on Sterling Assurance.

Cheers.

[ikpong]

Anyone who has an electronic copy of the private placement prospectus should please post it for us. Can we know the issuing house and, if possible, a contact person.

Thanks.

Ikpong

[naomi]

Avocado, thx for the reply you posted to my question.

[madeonline]

Sterling Assurance is still on (was meant to closed 07/01/08)

The is no softcopy prospectus for the placement. I am in posseion of an 8 page document on the placement. I have read through and I am of the opinion that it is worth the risk.

INVITATION TO INVESTMENT IN STERLING ASSURANCE NIGERIA LIMITED
We are one of the major underwriter for the private placement of the above mentioned
company and we hereby invite you to invest in the company. The gist of the offer is as
follows:

Available Units: 100,000,000 (One Hundred Million Units)
Nominal Price: N2.50 per share i.e. N1.25 of 50k per share upon
redenomination or split
Offer Period: Offer (window) closes by Monday 7th January, 2008.
Minimum Subscription: 500,000 units i.e. N1, 250,000 (ONE MILLION, TWO HUNDRED AND
FIFTY THOUSAND NAIRA ONLY).
Transfer Cost: The purchase is in block from the Issuer (i.e. 50 million
units @ N150, 000,000 and such there would be additional transaction cost @ 3% of value
on crossing/transfer to the buyer's account upon listing of the stock on the Exchange.
This is to cover statutory cost of transfer.

JUSTIFICATION/ANALYST OPINION

1. Sterling is one of the recently recertified insurance companies in Nigeria.

2. Consolidation/recapitalization has turned around the fortune of the industry and as
such the sector is a growing sector.

3. Sterling has strong Board with capital contacts for business-like the MD/CEO of Hogg
Robinson/Nigeria Life & Pension, Chief Olabode Emmanuel e.t.c

Management wise, they posses most of the best professional in the industry.

4. The price is good relative to its peer as indicated under:
INSURANCE
Symbol Close
AIICO 3.43
CONTINSURE 3.72
CORNERST 4.44
CRUSADER 6.2
CUSTODYINS 4.6
GUINEAINS 3.52
LASACO 4.2
LAWUNION 4.2
LINKASSURE 3.69
MBENEFIT 4.23
NEM 3.74
NIGERINS 6.68
OASISINS 2.25
PRESTIGE 8.74
ROYALEX 5.3
SOVRENINS 4.03
STACO 3.68
STDINSURE 4.15
UNIC 4.11
WAPIC 9.5

5. Sterling is poised to get listed before the end of the first quarter 2008 and this
would engender liquidity and transferability of the securities.

6. The price is good at N2.50k per share, good at a nominal price of N1 per share i.e.
N1.25k @ N0.50k per share.

7. International investors are keen and interested in the industry (portfolio and foreign
direct investment) given the restructuring of the industry. It is also pertinent to
mention that Insurance industry is mimicking the banking sector and this is the best time
to KEY IN.

We urge you to participate in the Offer as we are of the opinion that it is an investment
that would yield good returns in the medium to long term.
Offer form is attached and for additional information, please contact us and the Issuer-
Sterling Assurance Nigeria Limited.


For more info contact Yemi 08056259633

[newton]

Wow! Wished I heard this sooner. Seems pretty late to raise the required min. But Fantastic info huys, keep up the good work!

[riskreturn]

Originally Posted by madeonline

Sterling Assurance is still on (was meant to closed 07/01/08)

The is no softcopy prospectus for the placement. I am in posseion of an 8 page document on the placement. I have read through and I am of the opinion that it is worth the risk.

INVITATION TO INVESTMENT IN STERLING ASSURANCE NIGERIA LIMITED
We are one of the major underwriter for the private placement of the above mentioned
company and we hereby invite you to invest in the company. The gist of the offer is as
follows:

Available Units: 100,000,000 (One Hundred Million Units)
Nominal Price: N2.50 per share i.e. N1.25 of 50k per share upon
redenomination or split
Offer Period: Offer (window) closes by Monday 7th January, 2008.
Minimum Subscription: 500,000 units i.e. N1, 250,000 (ONE MILLION, TWO HUNDRED AND
FIFTY THOUSAND NAIRA ONLY).
Transfer Cost: The purchase is in block from the Issuer (i.e. 50 million
units @ N150, 000,000 and such there would be additional transaction cost @ 3% of value
on crossing/transfer to the buyer's account upon listing of the stock on the Exchange.
This is to cover statutory cost of transfer.

JUSTIFICATION/ANALYST OPINION

1. Sterling is one of the recently recertified insurance companies in Nigeria.

2. Consolidation/recapitalization has turned around the fortune of the industry and as
such the sector is a growing sector.

3. Sterling has strong Board with capital contacts for business-like the MD/CEO of Hogg
Robinson/Nigeria Life & Pension, Chief Olabode Emmanuel e.t.c

Management wise, they posses most of the best professional in the industry.

4. The price is good relative to its peer as indicated under:
INSURANCE
Symbol Close
AIICO 3.43
CONTINSURE 3.72
CORNERST 4.44
CRUSADER 6.2
CUSTODYINS 4.6
GUINEAINS 3.52
LASACO 4.2
LAWUNION 4.2
LINKASSURE 3.69
MBENEFIT 4.23
NEM 3.74
NIGERINS 6.68
OASISINS 2.25
PRESTIGE 8.74
ROYALEX 5.3
SOVRENINS 4.03
STACO 3.68
STDINSURE 4.15
UNIC 4.11
WAPIC 9.5

5. Sterling is poised to get listed before the end of the first quarter 2008 and this
would engender liquidity and transferability of the securities.

6. The price is good at N2.50k per share, good at a nominal price of N1 per share i.e.
N1.25k @ N0.50k per share.

7. International investors are keen and interested in the industry (portfolio and foreign
direct investment) given the restructuring of the industry. It is also pertinent to
mention that Insurance industry is mimicking the banking sector and this is the best time
to KEY IN.

We urge you to participate in the Offer as we are of the opinion that it is an investment
that would yield good returns in the medium to long term.
Offer form is attached and for additional information, please contact us and the Issuer-
Sterling Assurance Nigeria Limited.


For more info contact Yemi 08056259633

Can you please shed more light on the contents of the document regarding how cheap or expensive the share price is by indicating the projected P/E ratio for the next 2 years or so (or enough statistics on projected aftertax profit and number of paid-up shares)? Selling a share for 1.25 Naira obviously does not indicate cheapness without information on earnings per share.

The above request pre-supposes that the PP closure date will be extended, as it officially closed on Monday, yesterday. If there is no official or non-official extension, the above infromation request should be deemed to have been overtaken by event.

[faoogoke]

ALL,

DON'T BE FOOLED!!! Steriling Assurance WILL NOT LIST B4 THE END OF THIS QUARTER.
It's just a way of getting you to buy into the offer.
Spring Mortgage is saying the same thing. Lie! Union Diagnostic said November/December 2007 but here we are in January 2008.
All the IPOs have lied to us concerning when they list their shares and investors will receive their share certificate.
A word for the wise though It seem a good buy but don't bank on the shares being listed until after the first half of the year. Quote me!

[riskreturn]

Originally Posted by faoogoke

ALL,

DON'T BE FOOLED!!! Steriling Assurance WILL NOT LIST B4 THE END OF THIS QUARTER.
It's just a way of getting you to buy into the offer.
Spring Mortgage is saying the same thing. Lie! Union Diagnostic said November/December 2007 but here we are in January 2008.
All the IPOs have lied to us concerning when they list their shares and investors will receive their share certificate.
A word for the wise though It seem a good buy but don't bank on the shares being listed until after the first half of the year. Quote me!

My experience suggests the need for caution and case-by-case consideration. For instance, I timed my coming from London to Nigeria to, among others, subscribe for the PP of Universal Insurance Company's PP so as to arrive Nigeria last Friday of November 2007 with the hope that they would still accept my subscription after missing the deadline by some days. But my submission was rejected, apparently due to existing over-subscription. Given the ongoing hype about anything insurance, the same may happen in the present case. And my greatest fear in this regard is even the much-praised Chams PP. The over-subscription may be so massive that 1-minute extensionm may not be permitted and the PP memorandum there should have even give some information as to whether over-subscription will be absorbed to some extent to allay the fear of having a lot of money returned long after submitting applications.

[crtide]

who is/are the issuing house/s. Can anyone please confirm authoritatively, that way we can see if we can have any inroad to the house/s

[newton]

Guy from the list of certifed insurance coy, there's still quit a lot unquoted. Though we've seen a couple push out PPs, I'm certain that the others wd be makin plans to list hence may be arrangin PP/IPO soon.

[naomi]

@All
I sent "Ogunyemi" emails at ogunyemi@coretrustinvestment.com as follow up to the sterling assurance pp but my emails were being redirected to:
made_ng.yahoo.com and yogunyemi@gmail.com. Is this normal?
Guys please analyse.

Originally Posted by madeonline
Sterling Assurance is still on (was meant to closed 07/01/08)

The is no softcopy prospectus for the placement. I am in posseion of an 8 page document on the placement. I have read through and I am of the opinion that it is worth the risk.

INVITATION TO INVESTMENT IN STERLING ASSURANCE NIGERIA LIMITED
We are one of the major underwriter for the private placement of the above mentioned
company and we hereby invite you to invest in the company. The gist of the offer is as
follows:

Available Units: 100,000,000 (One Hundred Million Units)
Nominal Price: N2.50 per share i.e. N1.25 of 50k per share upon
redenomination or split
Offer Period: Offer (window) closes by Monday 7th January, 2008.
Minimum Subscription: 500,000 units i.e. N1, 250,000 (ONE MILLION, TWO HUNDRED AND
FIFTY THOUSAND NAIRA ONLY).
Transfer Cost: The purchase is in block from the Issuer (i.e. 50 million
units @ N150, 000,000 and such there would be additional transaction cost @ 3% of value
on crossing/transfer to the buyer's account upon listing of the stock on the Exchange.
This is to cover statutory cost of transfer.

JUSTIFICATION/ANALYST OPINION

1. Sterling is one of the recently recertified insurance companies in Nigeria.

2. Consolidation/recapitalization has turned around the fortune of the industry and as
such the sector is a growing sector.

3. Sterling has strong Board with capital contacts for business-like the MD/CEO of Hogg
Robinson/Nigeria Life & Pension, Chief Olabode Emmanuel e.t.c

Management wise, they posses most of the best professional in the industry.

4. The price is good relative to its peer as indicated under:
INSURANCE
Symbol Close
AIICO 3.43
CONTINSURE 3.72
CORNERST 4.44
CRUSADER 6.2
CUSTODYINS 4.6
GUINEAINS 3.52
LASACO 4.2
LAWUNION 4.2
LINKASSURE 3.69
MBENEFIT 4.23
NEM 3.74
NIGERINS 6.68
OASISINS 2.25
PRESTIGE 8.74
ROYALEX 5.3
SOVRENINS 4.03
STACO 3.68
STDINSURE 4.15
UNIC 4.11
WAPIC 9.5

5. Sterling is poised to get listed before the end of the first quarter 2008 and this
would engender liquidity and transferability of the securities.

6. The price is good at N2.50k per share, good at a nominal price of N1 per share i.e.
N1.25k @ N0.50k per share.

7. International investors are keen and interested in the industry (portfolio and foreign
direct investment) given the restructuring of the industry. It is also pertinent to
mention that Insurance industry is mimicking the banking sector and this is the best time
to KEY IN.

We urge you to participate in the Offer as we are of the opinion that it is an investment
that would yield good returns in the medium to long term.
Offer form is attached and for additional information, please contact us and the Issuer-
Sterling Assurance Nigeria Limited.


For more info contact Yemi 08056259633

[pesadilla]

this is a PP,so the price comparising is vague.
prospectus is needed,to see their structure and numbers for proper analysis.

[ikpong]

Posting the prospectus will enable us to do the analysis and provide some recommendations. We need to know the current P/E and the projected PE. What is the dividend yield and the growth rate? Knowing these facts and comparing it to the industry average and other companies in the sector would be helpful in one coming to a decision about subscription.

Thanks.

Ikpong

[ibro2324]

who has the prospectus for sterling assurance and is the offer still on???