Proshare Logo
   Market Date: 30-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Investor activity lends support for the Afribank offer

Category: Investors NewsBeat

  Read (764)
Investor activity lends support for the Afribank offer

November 29, 2007/Punch


Strong fundamentals and sound business operational plan appear to be the pull driving investors to Afribank’s ongoing public offer. Investment statistics of the bank, according to analysts, are above industry average.


Portfolio analysts hold the view that apart from the current attractive information on the bank, the application of the offer proceeds of N94.1bn (after offer and underwriting expense) is attractive to investors,†a statement from the bank on Wednesday said.


The bank explained that the offer was to raise N100bn to fund various initiatives which were designed to support its growth objectives within Nigeria and globally.


 The statement listed the bank’s strong fundamentals as management, revenue and profitability; return on equity; cash flow; and stock performance.


“Afribank operates under a group structure managed by a 10-man board of directors, comprising of professionals and distinguished businessmen with varied backgrounds applicable to the businesses they have under management.


It stated that revenue for the financial year ending March 31, 2007, increased by $11.9bn, or 76 per cent relative to the prior like period. Comparatively, PBT increased by N3.38bn, or 86.7 per cent relative to the prior fiscal year.


The Return On Equity for Afribank Bank Plc, based on the most recent fiscal year’s financial statements is 16.5 per cent, which is above the industry average of 15 per cent.


The current year’s ROE represents an improvement of 80.1 per cent compared to 9.02 per cent, the ROE for the prior year. A review of the most recent three financial statements indicates a bank with improving operating and free cash flow position since the FYE March 2005, the statement added

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Investors NewsBeat

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014