Aso Savings and Loans

[Articulate]

Originally Posted by tonidol

Zainab, l dey ur back. U sure say d thing no go drop to N2?

I don’t think the price will drop to N2. It might oscillate around N3 (plus or minus 20k) until the market stabilize and the potentials of the company become clearer.

[zainabusman]

Originally Posted by Articulate

I don’t think the price will drop to N2. It might oscillate around N3 (plus or minus 20k) until the market stabilize and the potentials of the company become clearer.

I dont see it dropping below N2.7. The harsh correction seems to have already happenned. They have also released their result and price below N2 is not possible unless we have a market crash.

[Articulate]

Originally Posted by zainabusman

I dont see it dropping below N2.7. The harsh correction seems to have already happenned. They have also released their result and price below N2 is not possible unless we have a market crash.

The above pronouncement coming from you is authoritative enough to settle the debate. Now let hypothesize, for those who bought the shares between N6 and N7, do you think they have any chance of recovering their investments? If they do how long do you think they will have to wait? I have always been impressed by your informed analysis both on this forum and your webpage. Keep it up!

[zainabusman]

Originally Posted by Articulate

The above pronouncement coming from you is authoritative enough to settle the debate. Now let hypothesize, for those who bought the shares between N6 and N7, do you think they have any chance of recovering their investments? If they do how long do you think they will have to wait? I have always been impressed by your informed analysis both on this forum and your webpage. Keep it up!

Thanks for ur comments.

Anyone who bought this stock at N6 or more should be prepared to wait at least 1 year or more to recover. This is because right now it is trading at N3.12. It even went below N3 today. Anybody who buys at this prices will likely cash in the gains before it reaches N6. I believe the bear run has thought people a lesson in taking gains.

I see this stock as a N5 stock by middle of next year or earlier. Based on the recently released 1st qtr earnings, an EPS of 35kobo is achievable. At N5, it will have a PE of 14.3 which is reasonable.

However, remember that the market has the capacity to surprise us. And in the short term fundamentals can be ignored by the market.

Personally i have placed an order for some units against Monday. I believe it is a company in a growth stage and their is a potential upside of at least 50% in the next 1 year. My exit price is N5. I am not greedy!

[billions]

@articulate: How much was d PP,was there any reconstruction of share and do u know if they are planning a public offer?

Thx.

[zainabusman]

Originally Posted by billions

@articulate: How much was d PP,was there any reconstruction of share and do u know if they are planning a public offer?

Thx.

While we wait for Articulate to provide the PP price, i hear it was at less than 70kobo. This was a major kill for those who participated.

[Monwowo]

Originally Posted by olusolakemmy

using their q1 performace of 674mil as a factor and considering they have 8.679bil shares, that means they have forward PE by last quater of About 9.67.

if am correct, i agree that it is reasonably priced at N3

does anyone knoe the PE of unions homes?

Union Homes PE was given as 25.67 using July 4 closing price in the ARM properties Plc PP teaser

[Michael]

Originally Posted by zainabusman

While we wait for Articulate to provide the PP price, i hear it was at less than 70kobo. This was a major kill for those who participated.

If The PP was 70 kobo. I see profit takers beating down the price to at least N2. I understand certificates are not being verified in a hurry for this stock. There is no doubt value but the bear has made people wiser.

[Articulate]

Originally Posted by billions

@articulate: How much was d PP,was there any reconstruction of share and do u know if they are planning a public offer?

Thx.

I believe the PP was in two stages. The first stage was the sale of 2 Billion shares at N1 for N1 share. This was later reconstructed to 50k for 50k shares. For example I bought a million shares for N1 million, but after the re-construction, when I took my cerficate for verification I was issued 2 million shares. In essence the price of the first PP was 50k per share.

However, I read somewhere on this forum that some people later bought the PP at N2.5 per share. Most of the people I know participated in the first stage.

Though I waited for almost 18 months for the shares to be listed, I was actually shocked when it was listed at N3.5 per share. With the banks setting up mortgage banks, Aso Savings raising its shareholders fund through IPO in order to compete is a possibility . However, I don't have any information to that effect.

[Michael]

Originally Posted by Articulate

I believe the PP was in two stages. The first stage was the sale of 2 Billion shares at N1 for N1 share. This was later reconstructed to 50k for 50k shares. For example I bought a million shares for N1 million, but after the re-construction, when I took my cerficate for verification I was issued 2 million shares. In essence the price of the first PP was 50k per share.

However, I read somewhere on this forum that some people later bought the PP at N2.5 per share. Most of the people I know participated in the first stage.

Though I waited for almost 18 months for the shares to be listed, I was actually shocked when it was listed at N3.5 per share. With the banks setting up mortgage banks, Aso Savings raising its shareholders fund through IPO in order to compete is a possibility . However, I don't have any information to that effect.

If It took 18 months to get listed the dynamics of the company may require for the listing price to be above the PP price. If a company did a private placement 5 years ago and is listed today at PP price something would be wrong. Or perhaps they may Increase the quantity of shares for listing to make it worth only the PP price. If that is possible.

[billions]

Originally Posted by Articulate

I believe the PP was in two stages. The first stage was the sale of 2 Billion shares at N1 for N1 share. This was later reconstructed to 50k for 50k shares. For example I bought a million shares for N1 million, but after the re-construction, when I took my cerficate for verification I was issued 2 million shares. In essence the price of the first PP was 50k per share.

However, I read somewhere on this forum that some people later bought the PP at N2.5 per share. Most of the people I know participated in the first stage.

Though I waited for almost 18 months for the shares to be listed, I was actually shocked when it was listed at N3.5 per share. With the banks setting up mortgage banks, Aso Savings raising its shareholders fund through IPO in order to compete is a possibility . However, I don't have any information to that effect.

Thx,...i think that d company is great.

[Articulate]

Originally Posted by Michael

If It took 18 months to get listed the dynamics of the company may require for the listing price to be above the PP price. If a company did a private placement 5 years ago and is listed today at PP price something would be wrong. Or perhaps they may Increase the quantity of shares for listing to make it worth only the PP price. If that is possible.

A price of about about 100-200% increase above PP price within 18 months would have been understandable, but 700% and 1400% (when the price reached N7) are simply outrageous increases within two years.

[Michael]

Originally Posted by zainabusman

Thanks for ur comments.

Anyone who bought this stock at N6 or more should be prepared to wait at least 1 year or more to recover. This is because right now it is trading at N3.12. It even went below N3 today. Anybody who buys at this prices will likely cash in the gains before it reaches N6. I believe the bear run has thought people a lesson in taking gains.

I see this stock as a N5 stock by middle of next year or earlier. Based on the recently released 1st qtr earnings, an EPS of 35kobo is achievable. At N5, it will have a PE of 14.3 which is reasonable.

However, remember that the market has the capacity to surprise us. And in the short term fundamentals can be ignored by the market.

Personally i have placed an order for some units against Monday. I believe it is a company in a growth stage and their is a potential upside of at least 50% in the next 1 year. My exit price is N5. I am not greedy!

Based on your comments and that of billions, i took a first position at 3.00 today. I will try to take subsequent positions at less than 2.75 and 2.5

[yang2005]

All:
Should I sell or hold my Aso shares?

[ntom]

Originally Posted by yang2005

All:
Should I sell or hold my Aso shares?

how much did you buy.50k or 7.00 if it is fifty kobo sale but if it is seven naira it will be a lost to sale

[tonidol]

Originally Posted by zainabusman

Thanks for ur comments.

Anyone who bought this stock at N6 or more should be prepared to wait at least 1 year or more to recover. This is because right now it is trading at N3.12. It even went below N3 today. Anybody who buys at this prices will likely cash in the gains before it reaches N6. I believe the bear run has thought people a lesson in taking gains.

I see this stock as a N5 stock by middle of next year or earlier. Based on the recently released 1st qtr earnings, an EPS of 35kobo is achievable. At N5, it will have a PE of 14.3 which is reasonable.

However, remember that the market has the capacity to surprise us. And in the short term fundamentals can be ignored by the market.

Personally i have placed an order for some units against Monday. I believe it is a company in a growth stage and their is a potential upside of at least 50% in the next 1 year. My exit price is N5. I am not greedy!

Zainab, did you take part in the Aso PP?

[zainabusman]

Originally Posted by Michael

Based on your comments and that of billions, i took a first position at 3.00 today. I will try to take subsequent positions at less than 2.75 and 2.5

Good strategy. U will also be entitled to 5kobo dividend if u buy b4 closure. I am watching it too, i will buy more if it drops below N2.9

[zainabusman]

Originally Posted by tonidol

Zainab, did you take part in the Aso PP?

No. But my brother did and he didn't tell me! Imagine.

[billions]

Originally Posted by zainabusman

No. But my brother did and he didn't tell me! Imagine.

The guy did not tell u bk of 1 reason:

He doesnt want the PP to be oversubscribed....you may apply for 100million units.

[tonidol]

Originally Posted by zainabusman

I dont see it dropping below N2.7. The harsh correction seems to have already happenned. They have also released their result and price below N2 is not possible unless we have a market crash.

This market has defied all indices. Anthing can happen. With the type of run JB (never mind the 3 for 1) is having, who will ever imagine that Costain will come as low as N19.

Zainab, don't be too sure.