please how can i buy this shares

@ egoldman
yes I am

@ blackngold
You will have to get a stockbroker and then find a way of sending money down to Nigeria. U could invest through relatives or if the amount you want to invest is substantial then you can use one of the big stockbrokers especially the one's that are subsidiaries of banks. all you will need to do then is pay money through their correspendent bank.
Another option is for you to open a non resident naira account with UBA and fund your transactions from it.

@oyb

the only thing i can say to all this is what warren buffet says about investing-
'i never invest in anything i don't understand'
do we really understand what transcorp is about?do we really understand their business
plan ?anyway it all depends on what one is looking for-quick returns or long term investment.
i often wonder, though if transcorp and so many other quoted nigeruian companies can stand
up to focused accounting methods. also remember that daewoo (another chaebol) went
bankrupt in the 1990s.

I am not Warren Buffet (I admire the man a lot though), maybe they are some in this
forum who fancy themselves as such. However, what might have worked for Mr Buffet
may not necessary have worked another billionaire - lets say a Charles Bronson of the
Virgin fame or George Soros.

If Daewoo went bankrupt in 1990s (I am quoting you here),I wonder how long they were
in existence before that event - I might suggest decades. Also, the Yukos example may
not really be applicable here as you can not ally yourself with foreign powers against your
own government and expect to survive. There other oligarchs getting richer in Russia today.
More importantly though, you are talking about a country that just started its experiment
with the capitalist system - Nigeria is light years ahead in this regard.

There are risks in every investments, if Transcorp doesn't pass your "risk test" or you still
don't understand the business model on which its built on, then let it go and be content with
your decision all the same. Cheers.

Why does transcorp keep extending the closing date?

I think so they can get more customers- those professional there sef

they are on a roadshow UK/us/SA, and they expect people interested to get to Nigeria somehow to invest. they should have some sort of link in all these countries

@loverbwoy
U dont need to come to Nigerian to invest. Just pick a reputable broker and they will assist you. I am sure that If you call their IPO hotlines they will advise you on how to go about it

otokx:

Why does transcorp keep extending the closing date?

i thought they did that only once or have they extended it further ?

NOOOOO! it still ends today

BT Terminates Agreement with Transcorp
• IPO undersubscribed
From Ijeoma Nwogwugwu in Abuja, 04.10.2007



British Telecom (BT) has pulled out of the technical services agreement with Transnational Corpora-tion Plc (Transcorp) for the management of NITEL and its mobile subsidiary, MTel. Transcorp, with BT as its technical partner had acquired a 51 per cent stake in NITEL last year under the privatisation exercise handled by the Bureau of Public Enterprises (BPE).
But in a letter to Transcorp, BT cited the unavailability of working capital needed to turn around NITEL and MTel, and the lack of adherence to corporate governance principles by the companies’ management and their boards as the reason for its decision to withdraw from the agreement.
The decision by BT to terminate the technical services agreement it has with Transcorp could not have come at a worse time for the Nigerian conglomerate which is yet to overcome the disappointing returns from its initial public offering (IPO).
Capital market analysts estimate that the Transcorp’s IPO may have been undersubscribed by as much as 70 per cent.
Under the technical services agreement, BT was expected to have provided technical and managerial expertise to Transcorp for one year in the first instance, but the contract comes up for review by both parties every six months.
In exchange for its services and upon meeting key performance benchmarks that had been agreed under the contract, BT was supposed to have been paid a fixed fee and a performance bonus by Transcorp.
In addition, salaries of its two contract staff seconded to run NITEL and MTel for the duration of the technical services agreement would have been met by Transcorp.
Transcorp had also committed to raising substantial funds from banks and the capital market to inject into both telecom firms for their network expansion programmes and in order to meet other commercial obligations.
In that regard, Messrs Steve Brookman and John Weir were seconded by BT as CEOs of NITEL and MTel respectively in November last year to oversee their day to day operations.
Ms Funke Okpeke, meanwhile, was employed by Transcorp and appointed Chief Operating Officer (COO) of NITEL.
But ever since Transcorp took over NITEL, and by extension its mobile subsidiary in November, the reconstituted boards of both companies have been enmessed in internal wrangling among its members, on the one hand, and disagreements with the British CEOs on how best to manage the companies on another.
Specifically, John Weir, who was appointed CEO of MTel, has been at logger heads with the company’s chairman, Gboyega Olulade and other board members over the selection of equipment vendors for the company’s network expansion programme.
Weir was said to have shown a preference for the appointment of Huawei and Motorola, while Olulade was pushing for Ericsson and other vendors. Weir also took umbrage over the appointment of the new Chief Technical Officer (CTO), Davidson Anene, by Olulade without his input, and is said to have refused to recognise Anene as the company’s CTO.
This got to a head last month when MTel’s board comprising Transcorp members and Federal Government representatives terminated Weir’s appointment and gave BT four weeks within which it was expected to send his replacement.
His dismissal did not sit well with BT which was already getting disenchanted with Transcorp’s inability to deliver on its promise to provide working capital for NITEL and MTel, thus compelling it to pull out of the agreement in its entirety. Both companies are also riddled with massive debts owed banks, equipment suppliers and unsettled interconnect fees.
The void created by BT’s withdrawal could not have come at a worse time for Transcorp. The company’s IPO held between December and January this year is believed to have been undersubscribed by 70 per cent.
Even a two week extension granted by the Securities and Exchange Commission (SEC) to Transcorp which embarked on road shows to the UK and South Africa to shore up investors’ participation in the offer did not help matters.
Capital market operators are of the view Transcorp grossly underestimated the capacity of the market to absorb another major public offer right on the heels of the Dangote Sugar Refinery Plc IPO.
According to a market analyst, “the timing for Transcorp’s offer was obviously not right. It came at the end of the year when most investors were cashing in to raise money for the yuletide season. Besides, it came immediately after Dangote’s IPO which had soaked up most of the investible funds in the market.”
Transcorp, he posited, should have bid its time and waited to go to the market later this year when investors would have had a clearer picture on the company’s direction.
The undersubscribed offer is already impacting on Transcorp’s share price which has been on a downward spiral since the technical suspension on the company’s shares was lifted twice by the Nigerian Stock Exchange.
A few weeks after the IPO had closed the Stock Exchange lifted the suspension placed on Transcorp’s share which took a hit in four days of trading to fall from N9.71 kobo per share to N8.34 kobo per share.
Without prior notice to stock brokers, the Exchange placed another technical suspension on the shares, which was ostensibly done to stop the free fall. However, the official explanation given by the Exchange for the second suspension was that it had done so to enable the Issuing Houses to the offer conclude collation of returns.
Since trading resumed last week, Transcorp’s shares slumped again, closing in at N7.93 kobo a share by end of trading last Thursday.

.

Even more worrisome are the reasons that BT cited for pulling out:

unavailability of working capital needed to turn around NITEL and MTel, and the lack of adherence to corporate governance principles by the companies' management and their boards

These are serious issues.

IPO undersubscribed by 70%

Now, why am I not surprised Obviously not a lot of people were fooled by all that hype . . .

Transcorp was a fraud from the very beginning so am not surprised.

fraud huh? hmmm

worrying hard about what I got myself into with that IPO.

I'm not worried.

Nope, not a worry!

I'm still sympathetic to Transcorp, though I have not yet invested (but will). It is a really good idea, but I guess the negative stories sorrounding it has not helped at all. Also, if this story is true (I can imagine TransCorp will dispute this shortly), then I'll be dissapointed in the management of TransCorp, that they have let it come to this.

This will certainly impact investor confidence and we can expect significant loss of value in the coming days. The  share price may soon level at 3 naira if drastic action is not taken to address this decline. But as that is unlikely to happen given that cash is currently in short supply, N3 is exactly the point when I'll be buying as much as I can, 

@DewDrop, you're so cute! Abeg don't cry oo!

pls help me thank GOD for my stockbroker, he deliberately avoided buying trans-corp for me,

i was just going to throw in a million naira in it,

i will agressively buy oceanic

TransCorp may be having problems now, but I won't rule anything out for the future. Say a company like Mubadala or Alheri engineering buys into TransCorp, you may not find the shares to buy until it touches 30, Remember Benue Cement,

Here is a press release from Transcorp - You can check on their website as well

Press Release: TransCorp Clarifies Relationship with BT Over NITEL / M-TEL

LAGOS, Nigeria – April 10, 2007:

Transnational Corporation of Nigeria Plc (TransCorp) has clarified the issues surrounding its
technical services agreement with British Telecoms (BT) in respect of the management of Nigerian
Telecommunications Limited (NITEL) and Mobile Telecommunications Limited (M-TEL).

Transcorp confirmed that the first stage of its management services agreement with BT had been
concluded. That stage basically covered the diagnostics and evaluation of the state of affairs in
NITEL and M-TEL.

However, both BT and Transcorp are still in negotiations regarding a long-term agreement.
Transcorp is also pursuing opportunities to bring in potential strategic investors into NITEL
and M-TEL.

The Transcorp spokesperson, Adedayo Ojo, reiterated that “Transcorp is in the final stages of
negotiations with strategic investors and we will issue detailed information as soon as those are
completed and the appropriate regulatory approvals are in place.”

Regarding the subscription level for its recently concluded Initial Public Offering,(IPO), Transcorp
explained that there was no basis to speculate that an IPO that has recorded more than two
hundred and fifty thousand subscribers (by far the highest number recorded by any company IPO
in Nigeria) was grossly undersubscribed as reported in a National Daily. According to the Mr. Ojo,
the Registrars were still compiling the returns which will need to be approved by the Board of
Transcorp and the Securities and Exchange Commission, (SEC) before the subscription level can
be determined and announced.

In another vein, Transcorp also confirmed that BT secondee and Managing Director of M-TEL,
Mr. John Weir, has not been relieved of his post by the Board of M-TEL as erroneously reported
by a Nigerian Daily.

Well, there are more questions than answers, but only time will tell! The next few weeks should
be very revealing - Verified IPO result from the horses mouth, new strategic investors/technical
partners for NITEL or lack of it, political transition, etc.

I don't like seeing massive red in my portfolio, but I am still down with this outfit and will sit it out.
Is it 3 years yet? Can anyone say thank you enough to DSR for holding down the fort?

When I was told by a senior member of TransCorp @ one of the Roadshows that "Thisday" seemed to have a vested interest in seeing TransCorp fail, that they were the first to report dubious and unsavoury stories on TransCorp,  he may not have been far from the Truth. If indeed the story carried by Thisday turns out to be false, one can't help but wonder who's interests are being served by these sensationalist, unverified and unsubstantiated reporting,

Only time will tell.

Transcorp is a house built on sand. It amazes me that many people cannot see it for what

it is.The large corporations of the world which it's protagonists claim it is modelled after

actually started small and their founders were truly visionary and innovative men. What we

have here is a monstrous creation by manipulative people who want to reap where they

did not sow. The whole thing will come crashing down on them. I won't advise ANYBODY to

put a penny into that company in the name of investment. A word is enough for the wise.

I want to believe that most people here are smart enough to know that not everything you read in newspapers are true. The business of the newspaper is to sell, sell, sell and they will achieve that in any way share of form they desire. The news report below contradict the one reported by a national daily.

Press Release: TransCorp Clarifies Relationship with BT Over NITEL / M-TEL


LAGOS, Nigeria – April 10, 2007:


Transnational Corporation of Nigeria Plc (TransCorp) has clarified the issues surrounding its technical services agreement with British Telecoms (BT) in respect of the management of Nigerian Telecommunications Limited (NITEL) and Mobile Telecommunications Limited (M-TEL).


Transcorp confirmed that the first stage of its management services agreement with BT had been concluded. That stage basically covered the diagnostics and evaluation of the state of affairs in NITEL and M-TEL.


However, both BT and Transcorp are still in negotiations regarding a long-term agreement. Transcorp is also pursuing opportunities to bring in potential strategic investors into NITEL and M-TEL.


The Transcorp spokesperson, Adedayo Ojo, reiterated that “Transcorp is in the final stages of negotiations with strategic investors and we will issue detailed information as soon as those are completed and the appropriate regulatory approvals are in place.”


Regarding the subscription level for its recently concluded Initial Public Offering,(IPO), Transcorp explained that there was no basis to speculate that an IPO that has recorded more than two hundred and fifty thousand subscribers (by far the highest number recorded by any company IPO in Nigeria) was grossly undersubscribed as reported in a National Daily. According to the Mr. Ojo, the Registrars were still compiling the returns which will need to be approved by the Board of Transcorp and the Securities and Exchange Commission, (SEC) before the subscription level can be determined and announced.


In another vein, Transcorp also confirmed that BT secondee and Managing Director of M-TEL, Mr. John Weir, has not been relieved of his post by the Board of M-TEL as erroneously reported by a Nigerian Daily.

.

I am a great supporter of Transcorp but I must admit when I checked the share price today and called my broker to tell me the news I wasn't too happy with what happenned. Like you said its mago mago. The idea behind Transcorp is a brilliant one but they are about to spoil it with politics. I still believe in its survival though

With all the negative news and 75 million odd share waiting to be dumped as at Tuesday's trading day, only 947,316 shares exchanged hands leaving the stock to close at N7.54.

Miraculously (if such a thing exists in the stock market), the stock has closed at N9.71 after trading 3,011,808 shares. Today's low/high price was the same N9.71 how miraculous can this be for Transcorp Something does not add up. Dare I suggest insider trading? And all this in 69 trades only!

Let's see where all this is leading to

Listen: Ladies and Gentlemen, if you want to be mega-rich, just buy some shares in TRANSCORP now before it is too late!!! who knows OBJ may assume it's chairmanship post handover.
By the way, the price of transcorp has been adjusted back to #9.71. GOODLUCK

Does the two day public holiday affect the stock exchange? Will there be any trading?

yes it will affect it. Stock market opens again on monday the 16th

Transcorp Sends Longe on Compulsory Leave
By Eromosele Abiodun, 04.12.2007

The embattled Transnational Corporation of Nigeria Plc (Transcorp) yesterday confirmed that its Group Managing Director, Mr. Bernard Longe, has been directed to proceed on compulsory leave.
The company, in a statement signed by its Head, Corporate Affairs, Mr. Adedayo Ojo, said the Board of Transcorp took the decision to enable the Board committee fully investigate the circumstances in which, Mr. Longe left First Bank of Nigeria Plc.î
It explained that ìthe goal of the inquiry is to ensure that Transcorp is in compliance with the Nigerian Stock Exchange (NSE) directive that indicted and/or dismissed Chief Executive Officers of quoted companies will no longer be allowed to occupy executive level positions in publicly quoted companies.”
Meanwhile, in the interim, Ojo said the Board of Transcorp has appointed a non-executive director, Mallam Munir Jaíafaru, who has occupied the position of Director-General of the Nigerian Maritime Authority (NMA) in the past, to act as Group Managing Director pending the outcome of the inquiry.
According to unconfirmed report, the current President of the Exchange, Oba Otudeko, who was and is still a Director in First Bank where Longe ( the then MD of the bank) was sacked over the NITEL privatization debacle in 2001 when the bank had to forfeit $131 million it had paid for the preferred bidder (Investors International Limited of London (IILL), had allegedly written Transcorp couple of weeks ago drawing its attention to the fact that the NSE rules bars the appointment of an executive to a quoted company if that executive had been fired by another one in the past.
However, Transcorp intended to comply but had to bid for time as the directive coincided with its Initial Public Offer (IPO). Complying with the directive would have scared away investors.
In a related development, the Exchange yesterday announced that the lifting of technical suspension placed on the market price of Transcorp was done in error.
Senior Manager Corporate Affairs, NSE, Mr. Sola Oni, who confirmed the error in a chat with THISDAY yesterday, explained that technical suspension is lifted when documentation of an offer has been concluded.
The documentation of the Transcorp offer has not been concluded so the technical suspension was lifted in error. There are nine stages for quotation, the last stage is listing, which means everything has been concluded” he explained.
On whether the Transcorp public offer was under subscribed by 70 percent, Oni stated that you cannot determine whether an offer has been over or under subscribed until collations have been concluded.
Given this scenario, Oni said the share price of Transcorp “remains suspended until collations of the public offer have been concluded”.
Transcorp’s share price as at the close of business yesterday therefore returned to the status quo - N9.71, the same price it was last December when the company announced its decision to raise funds from the market after a successful rights issue.

Poor show, , that the NSE, with it's critical oversight functions, can lift technical suspension on a company as visible as transcorp in error is a a big surprise.

I see poor management and get the feeling of internal wrangling within transcorp. I bet the likes of Dangote, BGL, Otedola with their significant holdings in the company will be less than impressed with these developments, assuming they are not the ones driving it in the first place.

the whole transcorp thingy is in shady shambles,

My fears are being confirmed . Transcorp is bad news,
Woe betide its investors if Obj's clique lose power.
It is providing the opposition with all the ammo they need.

This is becoming very interesting .