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LoverBwoy (m)
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I think they brought in two guys from BT to help with the restructuring
anyway, where can mere mortals like us get the bloody application form online?
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nairamar (m)
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Transcorp aims to raise N7.5 x 8,000,000,000(eight billion)shares which is N60,000,000,000 more or less US$500 Million or even more fashionable phrase of half a billion dollars! Now that's a lot of money anyway, full article here |
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Iyke-D (m)
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@LoverBwoy
I heard the prospectus may get posted online soon, not sure if the application forms
will be posted as well. Your best bet will be to go through a broker - ask them, they
know how to lay their hands on it directly or indirectly. Alternatively, email the investor
relations person at Transcorp with your question on how to go about it.
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Iyke-D (m)
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@Nairamar
I read your blog - nice site by the way.
Question:
What makes you think the Hilton, NITEL, MTEL, Oil blocks is not
worth the $500million value proposition?
Will appreciate your insights and method of evaluation. . .
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Flintz (m)
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FOR ALL THOSE LOOKING FOR THE APPLICATION FORMS AND PROSPECTUS, ITS ADVISABLE YOU MONITOR VETIVA'S WEBSITE - www.vetiva.com. It has not been uploaded by the company yet, but then, i guess it will be done in due course. Also monitor www.transcorpnigeria.com pending when they upload these vital investment documents on their website. Urs, Flint. |
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Flintz (m)
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FOR ALL THOSE LOOKING FOR THE APPLICATION FORMS AND PROSPECTUS, ITS ADVISABLE YOU MONITOR VETIVA'S WEBSITE - www.vetiva.com. It has not been uploaded by the company yet, but then, i guess it will be done in due course. Also monitor www.transcorpnigeria.com pending when they upload these vital investment documents on their website. Urs, Flint. |
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Temin (m)
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HELLO guys
Is there an IPO for TRANCORP, when is it closing, ?
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Flintz (m)
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Yea, there is a transcorp IPO open, and it ends about 1st week in February.
Flint,
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Iyke-D (m)
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The prospectus is now available at: www.vetiva.com (click on the transcorp image) |
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kaycenet (m)
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Well, someone should enlighten me if am wrong, " I think the idea behind transcorp is a fraud" and anybody investing in it now might be at risk on the long run especially if Obasanjo's candidate looses out OR If u think I'm wrong wy not convince me.
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noble2007 (m)
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@kaycenet,
you are more than 100% right,more reason why i'm not buying into it now until after transition to another gov't i.e after May 29, this year.or better still towards endin of this year when d storms and political ripples might hav cool down.
guys and ladies don't invest blindly.think and think very well before investin your hard earn money into any investment vehicle
happy investin in d New Year
noble2007 for real
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Bizl4Rizl (m)
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Thanks Iyke D for the info, i will be investing in the Transcorp offer and i enjoin others to.
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nairamar (m)
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I had a read of Transcorp's prospectus posted on Vitiva's website and must say I'm delighted with the asset base uderwriting their IPO. The purchase of of 51% of Nitel along, Full article here |
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gists
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For some reasons, my instint tells me to go for this transcorp deal even against all the alleged red flags. I've come to trust and rely on my instint over the years as it had most of the time been right.
However, I'm going to play it safe all-the-same. I shall sell some non-performing stocks in my potfolio and go for transcorp. Even if Iyke-D and other pro transcorp guys are wrong, I wouldn't be hurt because the fund has been idle in non-performing equities for some time anyway. But just in case the pro transcorp guys are correct, then I would hav moved my money into a perfoming stock thereby increasing the overall value of my portfolio.
Maybe you guys should consider this approach
Waiting till May 29 might be expensive. It took less than one month for May & Baker to double in price after the public offer!!
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Iyke-D (m)
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@gists
That sounds like a sensible approach. May & Baker has been the best performing stock
in mine as well with the exception of Transcorp of course. Having said that, no one can
tell you with certainty which direction a stock will move and what pace. Transcorp is for
people with an investment horizon of about 3 years or more, its going to be a buy and sit
tight stock. Whether the price will remain flat, double, triple, or quadruple during the wait
is the N1.2 million question. But as someone stated earlier, come three years if they can
execute, you might as well be looking at a N130 ($1) stock price.
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adconline (m)
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this looks like a company that will go down the drain once OBJ is gone
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Iyke-D (m)
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@adconline,
It will be nice if you can share some of the wisdom regarding your opinion with us,
others may benefit from it. We are waiting. . .
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4 Play (m)
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The problem with Transcorp is its alleged links with Obasanjo.
This raises the possibility that upon the termination of Obj's tenure,we might see a reversal of fortunes for the coy
Who is to say that a future Govt might not conduct investigations into some of the transactions,including the sale of a majority stake to Transcorp in NITEL,
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Iyke-D (m)
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@ 4 Play
I see your point, although this has been re-hashed over and over again, and I
don't see any more need to continue debating or considering "what if?" as "if it is".
I implore everyone to make a decision that they are most comfortable with. I am
going to bow out of this headless chatter now. Cheers.
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adconline (m)
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Frst you don't build a company that way. They have a lot of vested interests. Ndi Okereke Onyiuke is shareholder in a company that trades on a stock exchange where she is the president - Conflict of interest. I think they will do better as an investment bank, mutual fund or hedge fund, but I will not stake my kobo. Dangote pulled out and his company is running an IPO at the stock exchange. This is another white elephant project. What does this company really do besides gaining undue advantage to buy government parastals? NITEL and NICON HILTON. Can this company seek a line of credit worth $200 million from IFC, Merrill Lynch, BNP Paris, and RSB? They have no credit history or even business history. What is their specialty? Jack of all trades.
They have strong affinities with politicians and government agencies. Remember what happened in Thailand, Prime Minister Thaksin Shinawatra selling his family telecom company without paying taxes. What happens when OBJ is out of office? NASS can open an investigation into the acquisitions of NITEL and NICON HILTON. A lot of dirts will be opened.
Lastly, most Nigerian businessmen are bereft of business ideas like our politicians because they cannot succeed without government connection. They could not manage Econet, it changed Vmobile to Celtel and it had to be bought over by a Sudanese enterpreneur- Dr Mo Mohamed. Nigerian business managers had not had experience in GSM sector and they failed. This is the way they will fail, because they have not really ventured into a mega corporation like the one they envisage.
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oshkosh (m)
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@ Adcoline,
Every point you've raised here have been flogged on this forum extensively. BT is managed by BT, Ndi Okereke will not be chairman for ever, if at all she is breaking any rules.
One main reason why some people become millionaires as investors whilst others remain stuck in the middle/lower classes is that for some, a glass is half full whilst for the rest, it is always half empty.
But in all of this 'confusion' I see opportunity. By the time TransCorp have sailed all these hurdles and the company is on the home run, the stock will probably be N70 then.
Please play 'safe', minimise your 'risk' and invest then when all your concerns would have been addressed. Meanwhile, continue to invest in your regular stocks - Cadbury, Union bank, Nestle etc
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adconline (m)
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@oshkosh.
Transcorp will not sail through all these hurdles with my money OK. naija way of tackling issues. Eyes right from core issues. Why invest your money with a company that has no solid business footing or expertise. no business history, no credit history. Can you answer some of my questions? What does this company really do besides government favouritism that undersold Nicon and Nitel? Its stocks can soar above N70 but when the chips are down it may look like another Enron or Cadbury.
Good luck
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tayo akin (m)
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Reading through most comments on this subject matters,one is surprised at the level of ignorance expressed by some people on this topic.Personally, I have come to see reason why the rich are getting richer and the Average person are allways satisfied with their conditions because they dare not take any risk at all. Again the problem with us as Nigeria is that a lot of time we tend to run down good ideas by our fellow country men for no good reason at all. For any doubting Thomas Transcorp is here to stay and I can assure you that the corporation will deliver sooner than speculated in the IPO.
I cannot think of any Rich Nigeria who is not part of this corporation already whether directly or indirectly. For the sake of argument,Dangote ,femi otedoal,Jim ovia,Ajekigbe,Fola Adeola to mention few,it doesn't matters whether they left the board or not .This guys are not fool and they will not invest in any corporation if they cannot see the benefit or opportunities.Also all our major banks already invested on behalf of their shareholders(Indirect Investment) .I am also convinced that the so called opposition are part of the organization already,they only come out to oppose the idea when it suit their political idea or purposes.
I don't want us Nigeria to be ignorant of our so called political class , they are all of the same thinking and I can assure you that no one will touch Transcorp. I may be wrong but I can see how PDP will loose the election even the opposition knows that already.
Anybody that refuse to buy into transcorp now will have himself to blame in the future.And by the way all Nigeria and I mean all of us will buy into the organization whether as a consumer or as an investor. I choose to be on the investor side.
Remember this your seed is the only influence or control you have over your future and please use it wisely. I am sure that the least price anybody could buy into it now or in the future is =N=7.50 and it can only go up.
Please, I encourage all to read the prospectus again and follow your heart and not your head and if not sure consult your stockbroker or seek professional advice. And make sure you only, seek advice from people or organization who have proof of performance in their lives.
Thank you.
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4 Play (m)
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Lets face the facts,the prescence of Onyiuke and those other bank chiefs on the board of Transcorp is a disgrace.This will not be tolerated in a any civilised country. People keep waving the patriotic flag as if buying into a coy set up partly with embezzled funds makes u patriotic. The problem with the coy is not that it is tied to PDP but that it is tied to OBJ who is leaving office very soon . Had the coy a busineess history we can look at,we could have been rest assured about its capabilities for the futureProblem is ,it has no track record,no trading history.We are simply supposed to buy up because prominent Nigerians have done @Tayo Akin Hasn't Dangote resigned from the board of Transcorp? http://www.thisdayonline.com/nview.php?id=65501 |
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LoverBwoy (m)
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And Obj will still be powerful after leaving office, probably another IBB Had the coy a busineess history we can look at,we could have been rest assured about its capabilities for the futureProblem is ,it has no track record,no trading history.We are simply supposed to buy up because prominent Nigerians have done If the coporation had a business history we can look make better judgements but since its brand new we can only go with instinct and potentials, if we miss oops i doubt this in the long term, if we gain hurray  The thing about the situation in Nigeria is that individuals don't use their money to create solutions and reap the benefits they wait for the government or other multinational companies to take advantage of this, now transcorp will TAKE advantage, favoritism or not it's an advantage waiting for risk takers im sure mittal and co will soon buy up some of our steel companies and we wont see anything wrong with that was vetiva set up with alamesias** money? the guy on their board is his lawyer |
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4 Play (m)
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Mittal won't but up our steel coys,how many reputable foreign investors have actually snapped up any of our privatised state assets?
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LoverBwoy (m)
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actually there's one on the outskirt of abuja or in abuja thats been bought up and even expanding, i think by some south african/indian group mittal is already is talks to take over the liberian steel sector and currently involved with the ajaokuta steel company but on contract basis and i think they'll still move in fully soon most of our state assets are in debt transcorp will probably get some debt cancellation  or snap it up on the cheap bring in some proper expert to turn it around |
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oshkosh (m)
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@LoverBwoy People keep waving the patriotic flag as if buying into a coy set up partly with embezzled funds makes u patriotic - Please share this "embezzled" funds info you obviously possess with this forum. Maybe we'll learn something from your aparent inside knowledge, because as far as I can see from the prospectus, the source of funds has been made quite clear. It's not surprising how people choose to apply popular sentiment on issues as serious as this. You either consider an investment a risk worth taking or you don't, in which case you stay out. In fact you could come up with an argument about the stock market and capitalism as a whole. There is the Cuban socialist model to consider etc etc. But no point bad mouthing a company you know nothing about, or pass judgement without the facts. You may choose the Sun newspaper as your source of financial information, again that's your entitlement. There are lots of 'safe' investments out there with predictable returns, mutual funds being one of them. I strongly encourage you to put your money there and stay out of TransCorp. In my opinion, TransCorp is certainly not for everyone. Some people at least attempt to look beyond their immediate horizon, others base conclusions on extremely simple, fundamental and populist analysis. That is a major difference between Warren Buffet and warren joe lower class. A wealth creating mindset can neither be taught on this forum nor in the linear education model of a university/sec school classroom. |
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tayo akin (m)
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4 play,
Yes, Dangote had resigned from the board, but still has over 1 billion shares in the corporation. I am sorry to say this people like you can be analyzing or criticizing who should be on the board or not and you are free to do so. Come to think of it where in the world would you see a diversified portfolio of share like Transcorp for =N=7.50/Share.
And if you are waiting for the business track record before coming on board,just hold on for about 5 years and you can buy in then when the share is about $1( =N=130). Please don't complain then if Dangote share is valued for $1 billion dollar.
Personally, I Wouldn't be comfortable to invest in Transcorp if it hadn't attract this level of criticism or opposition at all. When you see a person or organization going through a lot of battle or challenges be confident that their is more to that enterprises or individual.As I look around this is the first Mega corporation in Nigeria own by Nigeria( 100%) and I have a strong feeling that it will not fail.
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adconline (m)
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The risk assessment of this company is that it has not clearly defined its specialty. Off course this company cannot venture where there is a vested interest since its an amalgamation of business interests. Can this company compete in Cement/Flour sector where Dangote holds sway? Can it compete in Banking sector where Jim Ovia and Co hold sway. The issue is that this company is rooted in favouritism and it is mostly bound to fail. Tell me any reputable auditor who has audited their accounts to see that they are really worth what they say. This is why scam thrives in Naija because people overlook flaws, risks when they are over-occupied with excessive profits.
I cannot be in a joint venture with someone whose worth I don’t know and cannot ascertain. How much is this company worth? What does it do besides acquiring NICON and NITEL through favouritism? These agents of Transcorp have not dared to take my questions one on one because they will be lost of answers. If this company is really good why don’t they buy Dangote so that he can be chairman of the company, instead his Company is running parallel IPO to shore up his market share. Who are their underwriters and lenders?
In western countries, like the US their stocks will be classified as junk stocks because of unproven business and credit track record. Some US Automakers like GM bonds are classified as junk by S&P rating for not turning in profits, how much Transcorp. Oh my gosh- I didn't know that people would be so blind folded as not to know the truth. This company may become in future but not now because the risks far outweigh the gains. One of my resolutions this year is to invest in capital markets, but this venture does not seem good to me. Please someone should critically tackle these issues for me, not rambling or rhetoric
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LoverBwoy (m)
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@oshkosh I didnt make that statement @adconline This company may become in future but not now because the risks far outweigh the gains. One of my resolutions this year is to invest in capital, but this venture does not seem good to me. Please someone should critically tackle these issues for me, not rambling or rhetori The future; That's the whole point isnt it  critically? its very risky and might turn out to be very profitable - simple as that! don't crack your brain too much. And remember there are soo many stocks out there for you to pick from, the last time i checked public opinion don't really go with share price in nigeria |
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adconline (m)
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@loverbwoy
Why did you seletively use a single line to generalize my arguement? The one that favoured your stand. Why don't you tackle all the issues I raised.
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