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Leadway Pensure’s First Bank Shares Belong to RSA Owners – PenCom

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FirstBank Headquarter - Investors King

The National Pension Commission (PenCom) has confirmed that any funds that have been invested in First Bank Holdings Ltd (FBNH) by Leadway Pensure Ltd belong to holders of Retirement Savings Accounts (RSA).

This has apparently silenced any claims that Tunde Hassan-Odukale and some entities related to him own a 5.36% stake in First Bank, which would have made Hassan-Odukale the single, largest shareholder in the company.

It seemed to be competitive, as after popular billionaire business Femi Otedola acquired a 5.07% stake in the bank, company secretary Seye Kosoko wrote to the Nigerian Exchange Limited (NGX), signing off Leadway Pensure PFA’s (Pension Fund Administrator) whole 2.11% stake to Tunde Hassan-Odukale.

After this, Kosoko was also responsible for listing 1.36% of the investment stated as “ZPC/Leadway Assurance Prem & Inv Coll Acct” in the favour of Hassan-Odukale.

The clarification from PenCom confirmed that the shareholding which has been ascribed to Hassan-Odukale will most likely be reduced to not up to 4%, with Leadway Pensure’s stake in the bank being classified.

PenCom issued a statement on Friday which stated that it did not break any laws by investing in First Bank, contrary to reports circulating the media.

The Pension Commission however said that any equity investments made by Leadway Pensure in FBN Holdings on behalf of the pension funds which it manages are in the name of the pension fund and belong to the RSA. It went further to state that the investments cannot be considered shareholdings of any party related to the PFA.

The Commission’s statement attributed the media reports to the lack of knowledge of the Investment Regulation which was issued by the Commission.

The Commission made reference to records held by the Securities and Exchange Commission, which confirm that the equity investments in FBN Holdings are made in the name of the Pension Fund for RSA holders.

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Capital Market

Steps On How To Buy MTN Share Offer

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MTN

Following the announcement of MTN Nigeria Communication Plc that it was selling an additional 575 million shares at N169 per share, many investors have been asking questions on how to own a piece of the telecommunications giant before it closes on Tuesday, 14 December 2021.

Before we proceed, it is important to note that MTN has pegged the minimum subscription per transaction at 20 shares and subsequent multiples of 20, 40, 60, etc. The share offer was attached with a buy 20 shares and get 1 share free, however, an investor is subject to a maximum of 250 bonus shares. Meaning, an investor is only entitled to a bonus on the first 5,000 shares bought.

The incentive is open to retail investors who buy and hold the shares for at least 12 months.

Below is a step-by-step process on how to buy and own a piece of MTN Nigeria, the second most capitalised listed company in Africa’s largest economy.

How to Buy MTN Shares?

There are various channels to purchase MTN shares. Interested investors can either buy through MTN or from several approved stockbrokers, some of them are listed below.

To Buy Directly from MTN Nigeria

Interested investors should use the approved channels listed below to submit an application. You can find full details of how to submit an application at www.mtnonline.com/PO or consult with your stockbroker or banker for further guidance.

Application for MTN share Offer can also be submitted at MTN stores. The MTN MoMo agents have been trained to assist customers and provide guidance on using PrimaryOffer to submit an application.

To Buy Through the Nigerian Exchange Group (NGX)

Apply for your shares digitally through the PrimaryOffer app by NGX. Visit the PrimaryOffer website www.primaryofferng.com by NGX; or Download the PrimaryOffer app by NGX from the App Store for IOS and Google Play store for Android devices. Note that a BVN, CHN and CSCS Number is required to register and submit an application on the PrimaryOffer portal.

If your application is successfully submitted through PrimaryOffer, you will receive a confirmation email.

PrimaryOffer Application Process

  • Download the app from the app store
  • Click “Create an Account”
  • Input your BVN
  • Input your date of birth linked to your BVN
  • Click “Proceed”
  • Validate your information
  • Create password
  • Click “Submit”
  • An OTP is sent to your email for verification
  • Upon verification, log in with your email and password
  • Select “MTN Offer”
  • View details of the Offer – including the Pricing Supplement
  • Input number of shares you want to apply for
  • Input CSCS, CHN and Bank details for verification.

Alternatively, a CSCS and CHN will be created for you if you don’t” have a CSCS account.

  • Input your bank account details and re-insert your login password for verification
  • Read and accept the terms and conditions
  • Proceed to Make Payment
  • You will receive a notification of the successful submission in your email

To make payment on the PrimaryOffer portal, select one of the options available on the payment page, you can Pay with Card, USSD Code, Bank, Bank transfer, MVisa-QR Code, Barter, PayAttitutde, or with Paga.

If debited but payment status shows pending, forward your proof of payment to info@primaryofferng.com for further review.

Buying MTN Share Via Receiving Agents

Apply for your shares through authorized Receiving Agents – Issuing Houses, Stockbrokers & Banks (applications can be completed and submitted, and payments processed at bank branches nationwide).

  • An interested investor should complete an Application Form.
  • Submit the completed Application Form and make payment to a Receiving Agent.
  • Receiving Agent confirms receipt of payment for the number of shares applied for.
  • Receiving Agent issues an acknowledgment copy of the Application Form.
  • Receiving Agent submits the application on PrimaryOffer.
  • Applicant receives a notification from PrimaryOffer once the application is submitted by the Receiving Agent.

If you submit an application through a Receiving Agent, the Receiving Agent will provide you with a photocopy of the completed Application Form bearing the date and time stamp. This should be kept for record and tracking purposes.

After SEC’s clearance of the allotment, the shares allotted to you will be credited into your CSCS account and you will receive an automated SMS from CSCS notifying you of the credit.

What is a Clearing House Number (CHN)?

Clearing House Number (CHN) is a unique number that identifies each investor in the Nigerian Capital Market. The CHN is alphanumeric and starts with a “C”. Accordingly, your CHN details must be provided in the “CHN Number Details” section of your application.

What is a CSCS Account?

The CSCS (Central Securities Clearing System) is a computerised depository system responsible for clearing, storing, and settlement of securities transactions in the Nigerian Capital Market. A CSCS account number is created for you by your stockbroker and can be used for buying and selling securities. Accordingly, your CSCS details must be provided in the “CSCS Account Details” section of your application.

MTN Share Offer Eligibility

Anyone above 18 years of age is eligible to buy the MTN shares on offer, but there are a limited number of conditions.

  • Applicants must apply for a minimum of 20 shares and multiples of 20 shares thereafter.
  • Applicants must have a valid BVN to register and submit an application on PrimaryOffer.
  • Applicants must have a CHN and CSCS account.

Nigerians abroad who are interested in MTN share offer can also apply with their BVN details, also shares can be bought for another person if the beneficiary’s particulars, including BVN, CHN and CSCS account details are available. The beneficiary’s bank account details must be filled in for future e-payments, including dividends.

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Leaf Investment & Realtors Limited Acquires 1.97 Billion Shares in Oando Plc

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Oando Plc

Leaf Investment & Realtors Limited has acquired 1,968,452,614 shares in Oando Plc, according to the disclosure filing released via the Nigerian Exchange Limited.

Oando Plc, an indigenous oil company based in Nigeria, announced that Leaf Investment & Realtors Limited acquired Alhaji Dahiru Mangal’s interest in Oando Plc.

Therefore, based on the latest acquisition, Leaf Investment & Realtors Limited now holds a 15.83 percent stake in Oando Plc.

Oando’s statement reads “In accordance with Rule 17:13 (a) of the Nigerian Exchange Limited Issuers’ Rules, we hereby announce the acquisition of Alhaji Dahiru Mangal’s interest of 1,968,452,614, shares in Oando PLC by Leaf Investment & Realtors Limited.

“Based on the above, by Leaf Investment & Realtors Limited now holds 15.83% of Oando PLC.”

The statement is in line with the SEC disclosure act instituted two years ago to enforce transparency across the Nigerian capital market.

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Capital Market

Small Shareholders in Samsung Surpass Five Million

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smartphone

The number of small shareholders in the Korean tech giant, Samsung has exceeded 5 million after huge stock investment by local investors. This was according to data gathered on Monday.

According to official data released by Samsung, about 5.18 million small investors now invest in the top company as of the end of September, triple the number recorded in the same period last year. The exponential increase in the number of investors was due to the company’s status as one of the world’s leading companies in smart technologies, including refrigerators, televisions, laptops, chips, mobile phones, etc.

A considerable amount of local and retail investors had bought into Samsung Electronics this year despite foreign holders relinquishing their holdings in the most coveted stock in Korea. In the first nine months of 2021, retail investors bought a net $27.9 billion or 32.9 trillion South Korean won worth of Samsung stocks.

The high number of investors from January to September 2021 alludes to a high level of confidence in the company’s present performance, as well as the company’s potential to perform even better in the future (either near or distant). The show of confidence in the company stock is likely to motivate a new wave of investors, who are convinced by the mass action taken concerning the Samsung stock.

According to discussions by analysts, investors may have been drawn to the country’s most valuable company, in the middle of a surge in market liquidity and tougher government regulations on the housing market. The recent surge in the number of small investors can be said to be an indication of greater standing in Samsung, the world’s top smartphone and memory chip maker.

However, this month they sold a net 486 billion South Korean won ($412 billion) worth of Samsung Electronics stock due to a slump in the company’s stock price.

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