November 26, 2018/Cordros Report We initiate coverage of SAHCO with a target price (TP) of NGN5.97/s, representing an upside of 28.44% relative to its IPO price of NGN4.65/s. We have valued SAHCO using a pure-DCF valuation methodology, evaluating the company’s assets across its ramp and cargo handling business, in addition […]
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Money Market Rate Decreased Marginally as Overnight Rate Fell to 6.58%
Culled—Proshare November 26, 2018/Anchoria AM Research Money Market The money market rate decreased marginally last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 6.58% and 5.83% respectively. Consequently, the average money market rate fell by 0.55% to settle at 6.21% due to increased system liquidity […]
May & Baker Rights Issue: Cordros Projects Expected Total Returns of 88%
—-Applications Closes Wednesday November 28, 2018 November 26, 2018/Cordros Capital May & Baker Nigeria Plc’s (MAYBAKER) Rights Issue will close in two(2) days. Please note the following: The stock price is currently NGN2.50/s, representing 6% increase since our research team published an investment note on the company. The Rights price […]
