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   Market Date: 24-04-2014   
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Public Offers Private Placements

  1. Profit Forecast of Oil & Gas still a Listing Reqmt. of the NSE (as approved by the SEC)


    This is a direct update/response to the argument about SEPLAT and the lack of a profit forecast in its IPO documents. A few have argued that the new SEC rules does not make profit forecasts mandatory. It appears trite but before the market goes into appro
  2. SEPLAT IPO: Kicking the Can Down the Dark Alley?


    In July 2010, SEPLAT acquired a 45 per cent. participating interest in, and was appointed operator of, a portfolio of three on-shore producing oil and gas leases located in the Niger Delta (OMLs 4, 38 and 41), which include the Oben, Ovhor, Sapele, Okporh
  3. SEPLAT IPO Fair Deal for Who? What Qualifies SEPLAT for a Pioneer Status?


    Seplat Petroleum Development Company Limited (Seplat) is an indigenous exploration and production company incorporated in 2009 by Shebah Nigeria and Platform Nigeria. The companys main objective is to take advantage of oil assets divestitures by IOCs in
  4. Equity Research on Seplat's Initial Public Offering


    Seplat Petroleum Development Company Limited (Seplat) is an indigenous exploration and production company incorporated in 2009 by Shebah Nigeria and Platform Nigeria. The company's main objective is to take advantage of oil assets divestitures by IOCs in
  5. Seplat US$500m IPO : Bookbuild Open/Prospectus


    Market update: The book building period for the Initial Public Offering of SEPLAT Petroleum Development Company Plc is now open.
  6. SEPLAT US$500m IPO : Price Range Announcement


    This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information in the prospectus (Prospectus) to be published by
  7. Economic liberalization takes two steps forward, one step back


    Still on the domestic front in our core strategy document Nigeria Strategy Report, we examine different reform initiatives of the FG and discuss our expectations for same in 2014.
  8. IFC to Issue 1 Billion Renminbi-Denominated Bond in London, Supporting Internationalization of Chine


    IFC, a member of the World Bank Group, will issue a 1 billion renminbi-denominated bond (equivalent to about $165 million) next month to increase foreign investment in China and support the internationalization of the Chinese currency. The issuance marks
  9. Private Placement Laws in Nigeria - A critique of Stella Erhurhoro vs BGL Plc


    PRIVATE PLACEMENT OFFERINGS UNDER SECURITIES LAWS AND REGULATIONS IN NIGERIA: A CRITIQUE OF THE DECISION IN STELLA ERHURHORO vs BGL PLC, ALBERT OKUMAGBA AND SECURITIES & EXCHANGE COMMISSION (SEC), Nigerian Investment & Securities Tribunal, Case No. IST/LA
  10. Sterling Bank Plc Rights Issue Records 103% Subscription Rate


    Sterling Bank Plc a full service National Commercial Bank concludes its rights issue with 103.3% subscription.
  11. Offer for Subscription of 100,000,000 Units of VETIVA GRIFFIN 30 ETF Securities


    At a unit price equal to 1/100th of the value of the NSE 30 Index on the day preceeding the subscription
  12. Oando to raise another N30.7bn via Special Placement


    Oando Plc says it plans to raise N30.7bn through a special placement exercise. The company got the approval to proceed with the exercise following a completion board meeting held on Monday.
  13. NSE lists Transcorps Rights Issue


    Transnational Corporation of Nigeria Plc (Transcorp) is pleased to announce the official listing of its Rights Issue of 12,906,999,142 ordinary shares on the floor of the Nigerian Stock Exchange (NSE).
  14. Barclays to Issue $8.9 Billion New Shares


    Barclays gave in to pressure from regulators with a plan to issue 5.8 billion ($8.9 billion) in new shares, as part of what Chief Executive Antony Jenkins called "a bold but balanced plan" to address a capital shortfall.
  15. Cheaper Funds, Shareholder Value motivates Sterling Banks Rights Issue


    The share price of Sterling Bank Plc out-performed the market in the last 18months as our extensive trend analysis reveals significant margin between the two. The YTD performance of the key benchmark indices stand at +28.80% against the +53.18% Sterling
  16. Why Rights Issue of Shares is the Preferred Option on the Nigerian Bourse


    It is a trite fact that the Nigerian economy continues to witness a steady GDP growth which is expected to translate into increased investment flows, lower unemployment and reduced poverty. The waiting period however is proving a rather inconveniencing re
  17. African Paints is on life-support, extends loss with negative Net Assets in Q312


    African Paints Nigeria Plc reported an unimpressive Q3'12 performance, closing the year with another loss of N19.92million for the period ended 30th September 2012, extending losses as its net assets plunged into the red zone.
  18. IPOs in the works: Opportunities and Threats for Potential Private Firms


    The much anticipated revival of the IPO market in Nigeria will be hinged on two major issues, despite impressive recent up-tick in the market the ability of prospective companies to get a right valuation for the share-worth and the improvement in market
  19. Why Right-Issues dominate the primary market - Investors pause on IPOs


    The key purpose of the financial market is to help active and growing firms raise capital more efficiently. Recently, the Nigerian Capital Market recorded some positive impetus from firms to raise capital but the vehicle of choice was not through public o
  20. Rights Issue 3 new firms granted approvals to make offers to shareholders


    Kindly find below the names/list of firms that have been granted approval to approach the market for a rights issue:
  21. SEC Restates Commitment to Deepening the Nigerian Capital Markets and widening Investor Choice thro


    The Securities and Exchange Commission , SEC , has assured local and international investors of its resolve to continue making sweeping changes geared towards giving greater depth and enhancing investor choice in the capital markets through real estate in
  22. George Soros invests in Manchester United


    The billionaire investor George Soros has bought a stake in Manchester United football club, a US regulatory filing showed.
  23. N850m fraud: EFCC arraigns Bank PHB, officials, Indian


    AN Indian, three officials of former Bank PHB, Nulec Industries Limited and Bank PHB were, on Wednesday, arraigned on a two-count charge of conspiracy and obtaining by false pretence by the Economic and Financial Crimes Commission (EFCC) before Justice Ha
  24. Japan Airlines Set to Raise About $8.5 Billion in IPO Next Month


    Japan Airlines Co. will seek 663 billion yen ($8.5 billion) in the second-biggest initial public offering this year, completing a two-year turnaround from bankruptcy into the worlds most profitable carrier. The airline will list on the Tokyo Stock Exchan
  25. Lawmakers Push for Overhaul of IPO Process


    A bipartisan group of lawmakers called on regulators to overhaul the way initial public offerings are conducted, concerned that last month's flubbed stock sale by FacebookInc. FB -0.97% shows the current system unfairly punishes small investors.
  26. Will there be a revival in the IPO markets soon?


    Initial Public Offerings (IPOs) always held out an attraction for capital markets for one, it is the clearest indicator of a performing regulator focused on market development and linkages between the economy and the bourse.
  27. UBN Refunds Proceeds of Failed Rights Offering


    The Union Bank of Nigeria (UBN) on Tuesday said that it had refunded all shareholders that participated in its rights offering that was cancelled by the Securities and Exchange Commission (SEC). Mr Francis Barde, the Head of Corporate Affairs of the bank,
  28. Takeover Bid of Guaranty Trust Assurance Plc


    Assur Africa Holding (AAH) hereby offers to purchase, upon the terms and subject to the conditions described in the Takeover Bid Document, shares representing up to 7.32% of the issued share capital of Guaranty Trust Assurance (GTAssur), on a pro-rata bas
  29. Nigerian Stock Market and the State of IPOs


    Nigerian Stock Market and the State of IPOs
  30. SEC Stops Publicity of Private Placements


    As part of efforts to avoid recurrence of the crash of the Nigerian stock market in 2008 and 2009, the Securities and Exchange Commission (SEC) has stopped the publicity of private placements in the market, warning that any company that publicises its pri
  31. Board okays Oando's N20b rights issue


    The board of directors of Oando Plc has approved rights issue of 301,694,876 ordinary shares of 50 kobo each at N70 per share.
  32. World Bank backs out of privatisation programme - FG realised N1trn privatisation proceeds in 8 yrs


    The World Bank has backed out of the country’s privatisation programmes, as the Privatisation Support Programme (PSP) ends in December.
  33. Benue Assembly passes bill to raise N13bn from capital market


    The Benue State House of Assembly on Wednesday passed a bill empowering the government to raise money from the capital market for the execution of projects in the state.
  34. Introduction of Blocked Amount may save investors Return money palaver


    If the Nigerian Capital Market (NCM) can introduce a new process applicable to retail individual investors referred to as Application Support by Blocked Amount (ASBA), it could led to saving investors the trouble of non-receipt of return money.
  35. Cadbury Nigeria seek regulatory approval for Rights Issue


    Cadbury Nigeria Plc (Cadbury) is seeking approval from Regulatory Authorities to raise fresh funds through a Rights Issue.
  36. AP posts N7.15bn profit, pays 520k dividend


    African Petroleum Plc, has returned a marginal profit rise in spite of the inclement business climate in the 2008 financial year.
  37. Zenith: Registrar reiterate reissue of certificates to investors within 14 days


    Zenith Registrars Limited has reiterated its resolve to reissue share certificates to investors who are yet to receive the Zenith Bank Plc (Zenith) year 2007 Public Offer (PO) certificates.
  38. Kajola reports 100% allotment on year 2008 Private Placement


    Private Investment Company, Kajola Integrated Investment Limited (Kajola) has reported a 100 percent (100%) allotment to investors who took part in its year 2008 Private Placement (PP).
  39. LBIC gives investors 100% allotment on year 2007 Placement


    Lagos Building Investment Company Limited (LBIC) is giving a 100 percent (100%) allotment to investors who took part in the company’s year 2007 Private Placement (PP).
  40. FAML Eurobond: Alternative investment projects 51.78% return


    FAML Eurobond Guaranteed Investment Note has projected 51.78 percent (51.78%) returns to investors who take part in the alternative investment opportunity.


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