ACCESS BANK Rights Issue | Is This a Joke? | Nigerian Banks Consolidation | Flo Finance

[@Gilbertlakpama]

Its a strategy. The major share holders want to increase their stake theey dont want their holdings to be diluted. Access bank is realy undervalued. Increasing the share price will scare many

[@kehindeadetiloye2221]

Solid response, Buddy

[@AgapeDavid-EneobongEsq]

I just find the move very weird. Rights issue usually go 50:50 and can likely build distrust about the standing of a company amongst shareholders, I find it really interesting that knowing the above stated the bank took this approach. I have been hesitant to take up the rights because I can’t seem to wrap my head around it theoretically. This might also turn out to be a genius strategy somehow 🤷‍♀️ but what do I know? Maybe (like someone mentioned) it’s not the small fish like me they want investing lol.

[@ChibuikeUlasi]

Thank you so much for sharing Flo! You have been away for some time now on your main channel. Always looking forward to your videos.

[@FloFinance]

Aww Chibuike, I dey ooo. I just came back from almost 2 months of work and I have to face this channel now to update my people on what is happening in the Nigerian financial market. I have videos recorded for my other channel, hopefully I will find time to edit in the summer season of relaxation. 😀😆 How una dey?

[@ChibuikeUlasi]

@@FloFinance Nice! Welcome back 🤗

[@oy9407]

Thank you so much Flo for this explanation because I was getting confused on whether it was beneficial or not. Your intelligence is top notch and appreciate you sharing this information, God bless you.🙏

[@abelgonsum9774]

Everything about this their price, has even made the share price fallen further. I am not taking up their rights. They should eat it. I am buying the dip. that your question is as good as mine; "Who will buy the rights from me?". No incentive, we move Ma.

[@FloFinance]

I saw the downward trend too. During their Facts Behind the Rights Event last week, it was N19.35 but by weekend when I made this video it has fallen to N19.05.

[@discoveryforwealth2578]

Great, can you drop the link of where you got you chart during your presentation, thank you I want to use it and guide myself with other offers that will come up, stay safe❤

[@Kingtemmy-bx1je]

Please can you also talk about GTBank

[@EMENIKEP]

I just love how you simplify the whole thing. I just started the journey and hope to build a solid portfolio over the next 3-5 years.

[@FloFinance]

Well done! May this journey go according to your plan. 👍

[@andrewobaseki]

Pls do for GTB

[@euchariaokoro2829]

Thanks Flo, it was useful ❤

[@omonoabc652]

They believe the share price is headed up in the near future.

[@devchoice3262]

It's crazy seriously. I was surprised

[@agoiobunso]

Thank you so much for the update

[@harryebhos]

Hello Flo, I will like to catch-up to chat about business.

[@EAGLEUNTAMED]

Hello Flo, Thank you for the update. Please, how can I retrieve my lost shares certificate which I bought in ?2003/2004 when access went public? I have not been been to keep up with whether they are paying dividends or not, I was so young and inexperienced and I invested over 150k Naira at that time as a student. I think price was aroun 15naira per share and it plummeted after IPO to 50 kobo. Lol😅 I really want to know if I can get my share certificate online as it was paper copy then. I have access bank account at the time too and still do. Thank you and this can be answered by anyone please. Thank you

[@EsoheA.]

Google for access bank registrars and send an email with your enquiry. This should help

[@danielikhayere4391]

​@@EsoheA.It's coronation registrars. They'll definitely have answers to your questions

[@AbbeydPatriot]

I was expecting that you would bring up some fundamentals about the company.

[@FloFinance]

Beyond the scope of this video. You read up on that on Access Holdings website.

[@aniowoowo6936]

I have been watching the offer price from the corner of my eye 😮

[@FloFinance]

😆 bombastic side eye

[@emmanuelaogechi5733]

Please i want to buy shares I don't know how to go about it, i have checked stanbic , FBN , coca kola and mtn.

[@FloFinance]

1. Get a stockbroker. 2. Point at the shares of any company you want and tell them to buy it for you or do so yourself via your stockbroker's trading app.

[@motowndrive]

It's either someone dropped the ball on the pricing of the Rights issues or they are hoping that most subscribers wouldn't notice. Not the best way to reward loyal customers.

[@malcolmamaeze1014]

They want to discourage small investors from taking up their rights .

[@FloFinance]

I seriously don't know what they were thinking. All the money they spent organising this rights issue may go to waste.

[@du5707]

They are being forced to raise capital by cbn. So the high price is really to raise the capital without getting new shareholders. Even their current market price is just a reflection of 2023 forex gain boost. The impact of 2024 economy will hit their share price next year and share prices will come down.

[@fuzzyfredy4010]

Please how do you buy Nigeria stock?

[@emmanuelchibuzo2977]

What of if they are not trying to give you incentive.

[@kevindwise1492]

Which App do u recomend that there commission and exchange rate aare cheap please ?

[@FloFinance]

For this rights issue? You don't need an app. Download the form, complete and follow the submission procedure.

[@belalaz378]

Madam Flo where have you been l have missed you and your contents 😂

[@FloFinance]

I dey ooo. I dey work hard to find money to invest so KZbin (especially my other channel) dey for back burner for now. 😀

[@pee3deez-rm3gt]

I want to start investing in shares, Can you recommend a stock broker that will be willing to engage a newbie.

[@yungcisx6621]

I think it was a projection that was over estimated, or could be an inner circle effect to limit existing shareholder / shareholders accumulating majority of the shares as evident with Geregu company.

[@FloFinance]

You may be right because the way the biggest shareholders were giving them assurance that they will exercise their full rights during their Facts Behind the Rights Event, eh? Okay o, make them go and exercise their rights alone.

[@JSOAnya]

It is a strategy IMO.

[@FloFinance]

What kind of self-hurting strategy is that? 😆

[@JSOAnya]

@@FloFinance they don't want others to buy. Remember shareholders are allowed to buy additional shares in addition to their rights... So certain large shareholders will apply for additional shares, keeping the shares in the 'family'.

[@justiceo1791]

I’m staying out of these banks’ Rights Issue cos their current prices are too high for me.

[@theeconomist1212]

You cannot value a company that is recapitalising on its current pricing, the simple reason being that the new shares relate to a much bigger entity. You have to calculate its post-recapitalisation size in doing the valuation, because that is what you are buying into, not the bank you see today.

[@FloFinance]

Well, i dont invest based on futuristic hopes and prayers. I don't have a crystal ball.

[@AgapeDavid-EneobongEsq]

Also, Aig has said one of the reasons for the rights issue is to reward existing shareholders who stuck through “hard times”. How is the right issue a reward when it is sold at a premium? As of today the shares have tanked even more, this whole thing leaves a bad taste in the mouth of shareholders. Whether the issue price was set based on the future prospect of the company or not, I don’t still see the point in wasting money on a rights issue only to screw over the people you claim to want to benefit. I feel bad for the possible wasted funds from this audacious move and the staff that have now been given targets to promote this rights issue and keep sending emails every other day.

[@ambroseokolo]

Aunty will you be interested in crypto?

[@gudalawrence3746]

I was in capital bank, got swallowed by intercontinental bank who got swallowed by access bank. That’s how I got here.

[@nelsoncruz7278]

Can you please explain better for me, all the intercontinental shares bought are gone with any returns ?

[@nelsoncruz7278]

Can you please explain better for me, all the intercontinental shares bought are gone with any returns ?

[@bosederachealomole3356]

Access bank is failing.

[@nelsonchisom8496]

First to comments

[@Reubenwale]

Can I buy this particular Access Bank share through the Bamboo app?

[@FloFinance]

To secure shares via the rights issue, you need to follow the application process. Otherwise, you can make a market floor purchase from the app if it is listed there.

[@Reubenwale]

@@FloFinance Alright, thank you for this.

[@obinisol-kw4se]

great work flo can you assist with some info about banks please. Are Nigerian banks still barred from trading cryptocurrency ?

[@malcolmamaeze1014]

Flo if you read the circular from Access, they are simply doing the right issues to comply with CBN recapitalization mandate. So the offer price was purposely made not to be enticing.

[@FloFinance]

Malcolm help me understand where you are coming from. Are you saying that CBN forced them to do a rights issue?

[@mikeobasi9177]

Access needs to offer their existing investors rights at a price cheaper than the market price, else investors will go to the open market, period.

[@malcolmamaeze1014]

@@FloFinance Yes Flo, CBN mandated the recapitalization. All the other banks must do same. The Access low price is to discourage the minor investors from taking up their rights, so that the majority shareholders will take up the shares, thereby increasing their holdings at a cheaper price.

[@ikepatrick9154]

Did you call the Access Bank to ask about this obvious fauxpar? Enquiry minds wanna know!👎

[@Spapee]

The price of shares in the capital market is market determined i.e its about demand and supply. Its about risk and return. What if you wake up 2moro and the shares is no more N19.05k and has gone up to #25.00.k or gone down to #15.00k.. You can't be risk averse and be in that space. Both prices are arrived at differently. The banks projections must have considered the volatility of the market and other economic factors before arriving at the right issue shares prices. I suggest you talk to your stockbroker for a better perspective.

[@FloFinance]

Yes we know all that, still the price of rights issue is usually at a discount of the current price on the market floor. That's standard everywhere. Unless as someone said, they want to share the rights amongst themselves (biggest shareholders and board members) as they are rich enough to afford it even at N50.