Zenith Bank Plc is offering its ongoing hybrid rights and public offers at the bank’s lowest price range, locking in about 32 per cent gain in potential immediate return for existing shareholders and new investors.
Nigeria’s largest bank by profit, Zenith Bank is offering a rights issue of 5.233 billion ordinary shares of 50 kobo each at N36 per share. The shares were pre-allotted to existing shareholders on the basis of one new ordinary share for every six existing ordinary shares held as at the close of business on Wednesday, July 24, 2024.
The bank is also simultaneously offering 2.767 billion ordinary shares of 50 kobo each in a public offer to the general investing public at N36.50 per share. Minimum subscription is 250 shares, meaning that with N9,125.00, one can be a co-owner of Nigeria’s leading bank. Application list for the offers, which opened on August 01, 2024, is scheduled to close on September 09, 2024.
A review of the trading history of Zenith Bank at the stock market indicated that the bank’s shares had recently traded as high as N47.35 per share, a price range that market pundits believe is a fair price for the stock.
This recent price range implies a discount of about 32 per cent locked into the ongoing hybrid rights and public offers.
With earnings per share of N21.55 for the 2023 business year, Zenith Bank’s offers carry earnings yield of about 60 per cent, the most attractive value addition among peers and competing offers. This simply means that beyond its industry-leading dividend payout, investors in Zenith Bank has significant value creation in the investment that can sustain above-average, long-term returns.
At the latest audit, Zenith Bank led the banking industry with a pre-tax profit of N796 billion and profit after tax of N677 billion in 2023. The bottom-line performance was driven by aggressive business expansion and brand adoption across domestic and foreign markets. The bank’s gross earnings crossed two milestones from N946 billion in 2022 to N2.13 trillion in 2023. There are only three Nigerian banks with N2 trillion gross earnings.
First quarter results for 2024 already indicated that the bank could surpass the 2023 performance in the current year. Gross earnings jumped by 189 per cent from N270 billion in first quarter 2023 to N781 billion in first quarter 2024. Profit before tax tripled by 267.8 per cent to N320 billion in March 2024 as against N87 billion recorded in March 2023. After taxes, net profit leapt by 291 per cent from N66 billion to N258 billion. Earnings per share rose simultaneously from N2.10 to N8.22.
Analysts believe Zenith Bank has entered a new phase of phenomenal growth. Annualised, the first quarter 2024 performance indicates that the bank’s net profit could surpass a trillion, with potential earnings per share that almost covers the cost of buying into the ongoing offers. Such fundamental performance usually triggers a rally for a stock, underscoring the belief by investment experts that the bank could set a new all-time high within the next few months.
Zenith Bank has been adjudged the Best Commercial Bank in Nigeria for the fourth consecutive year by the prestigious World Finance Banking Awards. It has also been honoured for the past three years has the Best Corporate Governance in Nigeria. These awards were revalidated in the Summer 2024 issue of World Finance Magazine, which provides comprehensive coverage and analysis of the financial industry, international business, and the global economy.
The awards recognised the bank’s financial performance, customer service, sustainability initiatives, and corporate governance practices.
Established in May 1990, Zenith Bank began operations in July 1990. The bank became a public limited company on June 17, 2004, and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004, following a successful initial public offering (IPO). In 2013, the bank listed $850 million worth of shares at $6.80 each on the London Stock Exchange (LSE).
Founded by Jim Ovia in 1990, Zenith Bank has grown into one of Africa’s leading financial institutions. The bank’s philosophy is to remain customer-centric with a clear understanding of its market and environment. Zenith Bank’s excellent performance has earned numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria, in the International Banker 2024 Banking Awards.
In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited. The bank also has subsidiaries in Ghana, Sierra Leone, The Gambia, and a representative office in China. The bank plans to expand further into Africa, Europe, and Asia.
Zenith Bank has been a pioneer in digital banking in Nigeria, deploying Information and Communication Technology (ICT) infrastructure to create innovative products that meet customer needs. The bank is a leader in deploying various banking technologies, and the Zenith brand is synonymous with state-of-the-art banking technologies. Driven by excellence and global best practices, the bank combines vision, banking expertise, and cutting-edge technology to create products and services that meet customer expectations, enable businesses to thrive, and grow customer wealth.
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Testosterone Cypionate Overview
Introduction
Testosterone cypionate is a synthetic steroid used to supplement
testosterone levels in the body.
Uses
It is commonly prescribed for conditions related to low testosterone, such as:
Adrenal insufficiency
Hypogonadism
Osteoporosis
Menstrual cycle irregularities
Infertility
Dosage
The dosage varies based on individual needs and medical advice.
It is typically administered as an intramuscular injection, usually every
4-6 weeks.
Side Effects
Common side effects may include:
Elevated risk of cardiovascular events
Acne and skin reactions
Changes in cholesterol levels
Increased risk of liver issues
Swelling or fluid retention
Conclusions
Testosterone cypionate is a powerful hormone with significant benefits and risks.
Always consult a healthcare professional before use.
Testosterone Cypionate is a synthetic steroid derived from
testosterone, commonly used in bodybuilding and athletic performance enhancement.
It has been widely utilized due to its ability to promote muscle growth, enhance strength, and improve recovery times.
However, its use is controversial, with both benefits and
risks associated with it.
### What is Testosterone Cypionate?
Testosterone Cypionate is an injectable steroid that mimics the male hormone testosterone.
It is known for its long duration of action and is often used
in cycles to maximize muscle gain and performance.
The cypionate ester provides a slow release of testosterone,
reducing the frequency of injections compared to other forms
like Acetate or Enanthate.
### History and Overview
Testosterone Cypionate has been around for decades, initially used in medical settings to treat
conditions related to low testosterone levels. However,
it quickly found its way into the underground world of performance enhancement due to its
potent effects. Today, it remains one of the most commonly discussed steroids among bodybuilders and athletes.
### Mechanism of Action
Testosterone Cypionate works by binding to androgen receptors in muscle and bone cells,
stimulating growth processes. It also increases nitrogen retention, which is essential for muscle protein synthesis.
The cypionate ester ensures a consistent release of testosterone
over time, minimizing the need for frequent injections.
### Testosterone Cypionate Effects (Benefits)
Muscle Gains: Testosterone Cypionate is highly effective at promoting muscle growth by increasing protein synthesis and reducing muscle breakdown. This makes it
a favorite among bodybuilders looking to bulk up.
Strength: The steroid also enhances strength, allowing users to lift heavier weights and perform
more reps. This is partly due to its ability to
improve nitrogen retention and muscle function.
Reduced Body Fat: While primarily a bulking agent, Testosterone Cypionate can also help reduce body fat by improving metabolism and maintaining muscle mass during cutting phases.
Muscle Preservation: Its anti-catabolic properties ensure that muscle mass is not lost during periods of calorie restriction or intense training.
Recovery: The steroid accelerates recovery time, allowing
athletes to return to training faster after injuries or intense workouts.
### Testosterone Cypionate Dosing and Administration
The dosage and frequency of administration depend on the individual’s goals,
experience, and tolerance. Below are some common dosing guidelines:
Beginner Dosage: 100-250mg per day, split into 2-3 injections per week.
Intermediate Dosage: 300-500mg per day, with 2-3 injections per week.
Advanced Dosage: 600-1000mg per day, often administered twice weekly to maximize effects.
Dosing schedules are typically based on the half-life of Testosterone Cypionate,
which is about 12-24 hours. Longer cycles may be used for
more experienced users aiming to achieve maximum muscle gain and performance enhancement.
### Testosterone Cypionate for TRT
Testosterone Replacement Therapy (TRT) involves the use of synthetic testosterone to address age-related declines in testosterone levels.
While TRT can be effective, it is important to monitor side effects and consult with a healthcare professional before starting any supplementation.
### Testosterone Cypionate Cycles
Testosterone-only Cycle: This is the most basic and commonly
used cycle for men, typically lasting 4-6 weeks at doses of 300-500mg per day.
Low-dose Testosterone Cycle: Lower doses (100-200mg per day) are
sometimes used by those looking to maintain muscle mass without significant gains.
This is often combined with calorie-rich diets for fat retention.
Bulking Cycles: Higher doses and longer durations are common in bulking phases,
aiming to maximize muscle growth. These cycles are often paired with nutrient-dense diets and intensive
training programs.
Cutting Cycles: While primarily a bulking agent, Testosterone Cypionate can be
used in cutting phases at lower doses to maintain muscle mass while reducing body fat.
However, it is less effective than other steroids like Trenbolone for this purpose.
### Testosterone Cypionate vs. Other PEDs
Testosterone Cypionate vs. Testosterone Enanthate:
Both are synthetic testosterone esters but differ in ester length and release duration. Cypionate has a
slower release, making it preferred by some users.
Testosterone Cypionate vs. Dianabol: While both promote
muscle growth, Testosterone Cypionate is more anabolic without the
pronounced androgenic effects of Dianabol, which can lead to side effects like hair loss and acne.
Testosterone Cypionate vs. Trenbolone: Trenbolone is more potent in promoting muscle growth and fat loss but also carries a higher risk
of adverse effects, including testosterone suppression and liver strain.
### Stacking Testosterone Cypionate
Stacking Testosterone Cypionate with other steroids can enhance its effects.
Common combinations include:
Testosterone Cypionate + Dianabol (bulking cycle): Combines well for significant muscle gain and strength.
Testosterone Cypionate + Deca-Durabolin (bulking/recomp cycle):
Enhances muscle growth while reducing joint strain.
Testosterone Cypionate + Trenbolone (recomp cycle): Ideal for cutting phases
to maintain muscle mass and improve conditioning.
### Testosterone Cypionate PCT
Post-Cycle Therapy (PCT) is essential after concluding a cycle to restore natural
testosterone production and avoid hormonal imbalances. A common PCT regimen includes Clomid
or Nolvadex, along with supportive medications like Arimidex for excessive estrogen levels.
### Testosterone Cypionate Side Effects
Short-term side effects: Injection site irritation, fluid retention, and temporary acne are common. These usually
subside upon discontinuation or adjusting the dosage.
Estrogenic side effects: Testosterone Cypionate can aromatize, leading to estrogenic effects like gynecomastia,
breast swelling, and mood changes. These can be managed with anti-estrogen supplements like Anastrozole or Tamoxifen.
Androgenic side effects: Hair loss, acne, and aggressive
behavior may occur in some users. These are more common in individuals with a genetic predisposition to androgenic alopecia.
Hepatotoxic side effects: Long-term use can strain the liver, necessitating regular
monitoring of liver enzymes and functions.
HPTA and endogenous Testosterone production side
effects: Suppressed natural testosterone production due to exogenous supplementation can lead to testicular atrophy
and hormonal imbalances. Proper PCT is critical to
restore these functions.
Cardiovascular side effects: High doses or prolonged use may
increase the risk of cardiovascular events, including heart
attacks and strokes. This makes it crucial to follow dosage guidelines and consult with
a healthcare professional before using.
### Is Testosterone Cypionate Safe?
The safety of Testosterone Cypionate depends on the dosage, duration of use,
and individual health. While it can provide significant benefits, it also
carries risks that require careful consideration. It
is not recommended for use by women or individuals with
a history of cardiovascular issues, liver disease, or hormonal imbalances.
### Testosterone Cypionate Supplement
Testosterone Cypionate supplements are available in two forms: pharmaceutical-grade and underground lab
products. Pharmaceutical-grade supplements are more regulated
and may offer better consistency and quality control.
Underground labs can be risky due to the lack
of regulatory oversight, but some offer high-quality products.
### Where to Buy Testosterone Cypionate
Pharmaceutical-grade Testosterone Cypionate
is typically prescribed by physicians for medical purposes and can only be obtained legally through a prescription. Underground lab versions are often available on the black market, but their quality and safety are uncertain. Always prioritize reputable sources when purchasing supplements.
### Typical Pricing
Testosterone Cypionate typically costs between $1.50 to $5
per milligram of active hormone, depending on the form (pharmaceutical or
underground). This makes it one of the more affordable steroids available for performance enhancement.
### Testosterone Cypionate FAQs
What are the main side effects of Testosterone Cypionate?
Common side effects include injection site irritation, fluid retention, acne, and hair loss.
Estrogenic and hepatotoxic effects may also occur with prolonged or high-dose use.
What can you stack Testosterone Cypionate with? It pairs well with other
steroids like Dianabol, Deca-Durabolin, and Trenbolone, depending on the desired outcome (bulking, recomp, or cutting).
Is Testosterone Cypionate or Testosterone Enanthate better?
The choice between the two depends on personal preference, dosage requirements, and ester duration. Both are
effective but have slightly different release profiles.
Is Testosterone Cypionate good for building muscle? Yes, it is considered
one of the most effective steroids for promoting
muscle growth and strength.
Can Testosterone Cypionate be used for cutting?
While primarily a bulking agent, lower doses can be used during cutting phases to maintain muscle
mass while reducing body fat. However, it is less efficient than other agents
like Trenbolone for this purpose.
How often should you inject testosterone cypionate? The frequency depends on the dosage and
ester form. Lower doses may require 2-3 injections per
week, while higher doses may be injected once or twice weekly.
How much testosterone cypionate do bodybuilders take?
Dosages can range from 100mg to over 1000mg per day, depending on the user’s experience and goals.
How long does testosterone cypionate take to kick in? Effects are typically noticeable within a few days, with full benefits appearing after
several weeks of consistent use.
Can females use Testosterone Cypionate? While it is theoretically possible for
females to use Testosterone Cypionate, the risks far outweigh the potential benefits.
Estrogenic side effects and hormonal imbalances are highly likely, leading to serious
health complications. It is not recommended for female use.
Is hair loss from Testosterone Cypionate reversible?
Hair loss caused by Testosterone Cypionate may be permanent in some individuals.
Genetics play a significant role in this outcome, and hair loss
often cannot be reversed once it has occurred.
### Final Thoughts
Testosterone Cypionate is a potent steroid with significant benefits for muscle growth and performance enhancement.
However, its use comes with risks that require careful
consideration. Always prioritize safety, legality, and personal health when deciding to use this or any other steroid.
Consult with a healthcare professional before starting any supplementation regimen, especially if you
have pre-existing conditions or are taking other medications.
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