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Pain's Posts

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Politics › Re: Nigeria's Image Was Badly Damaged On Oprah Today! by Pain(m): 4:36am On Apr 26, 2007
ThiefOfHearts:
Husband or not, She can buy you.
See How Narrow Minded Some People Can Be. Just Because U Worth Nothing Means Everyone Else Is.

I'm A Package Of Body And Spirit. A Spirit That Would Outlive This Temporary Transitive Realm. My Soul Is Priceless And Not FOR SALE.

I Know Who I AM. If U don't know who u are please go searching. Thief, Of What?


Please give me a break. Dont trade words with me, because, I Know U. angry.

And Warning: Dont Focus On My Name or That Mite Be Thy Po****n
Christianity Etc › Re: Socrates Meets Jesus by Pain(m): 1:06pm On Apr 25, 2007
How About Socrates Meets Satan?
Politics › Re: Yar'adua Might Try To Implement Sharia Across Nigeria? by Pain(m): 11:38am On Apr 25, 2007
Which Do You Prefer? What About The Possible Legalization Of Sodomy. A[b] Favorite Pastime [/b]Of One Of The Loser Candidates?
Politics › Re: Forced To Vote Against His Wish by Pain(m): 11:10am On Apr 25, 2007
Some Nigerians Run Their Mouths To Impress Foreign Media A times. I Wonder Whom They Are Trying To Impress.

I Read The BBC Article. The Guy Is A sell Out. I hope The Reporter Bought Him A Hot Meal?

It Neva Ceases To Amaze Me How Some of Us Try To Impress These Westerners. Good We Have Issues, But Do They Run Perfect Systems Too.?

We Are Getting Our Acts Together And Would Emerge Soon. This Is Scary To Them, Much Like the Asian Tigers Scare Them With Their "Roaring" Economic Booms. What about the Failed "Blair War Project"?

I Wonder What BBC Intends To Achieve With Their "Instigative" Rather Than Investigative Journalism. Do They Think We'd Go To War.?

I Thot They Were Smarter. Now I Know Better.

What Do They Even Have As A Nation?

All They Do Is To Establish Colonies And Neo-Colonies And Parasite On Them. They Have An Eye For Oil. Oil Vampires.

Parasitic Caucasians!!
Politics › Re: Let Us Score Prof. Iwu's Performance So Far In The Elections by Pain(m): 10:56am On Apr 25, 2007
Nothing Has Been Proven Beyond Doubt Yet.

Not Even Existence.
Politics › Re: Nigeria's Image Was Badly Damaged On Oprah Today! by Pain(m): 10:53am On Apr 25, 2007
I Say To Hell With Oprah.

Tell Her To Go Get Her Self A Husband. Maybe That Would Occupy Her Mind And Shed Learn to Mind Her Own Business.

Nigeria Is A Great Nation. The Filth That Goes On In The Minds Of Most Americans Is Worse Than The Filth We See On The Streets Of Graet Nijja.

Nigeria Is Our Own. To Hell With Detractors.!
Politics › Re: Let Us Score Prof. Iwu's Performance So Far In The Elections by Pain(m): 10:49am On Apr 25, 2007
Iwu Just Had To Do What He Had To Do.

Become Partisan And Pick The Best Of Three Evils.

This Is Africa And He Did A Good Job. Some Of Us Will Only Understand In Some Years To Come. That This Was Part Of The Revolution,

Its Just Baba Iyabos Version For A Peculiar Nation. This Is Not Ukraine.

Can Someone Please Pass This Info To Pat Utomi For Me? :


Please Go Back To Your Classroom and Theorize.

No One Is Going To Spill His Blood For You. Maybe "Ink" But Not My Blood.
Politics › Re: Yardua Should Not Rejoice Yet! Tribunals And Street Protests Ahead! by Pain(m): 10:41am On Apr 25, 2007
I Say To Hell With The Damned. Atiku. Who Is Going To Spill His Blood For An Ignoramus Like Him?

Shame On Whoever. Such A Scoundrel. He Is Trying To Play On Our Collective Intelligence As A Nation.

Talk About Someone Who Cant Even Manage His Own Life Talk Less Of His Own Home Trying To Rule Us. Mrs "Titie" Atiku Would Tell U Better!

I Say He Should Be Stoned. Stone Headed Fool!!

Most Idiots Like Him Have Found It Impossible To Come To Terms With The Generational Power Shif. A Good Example Is I-BraT- Him Mantu.

Power Must Change Hands And It Is Indeed Dawning On Our Polity.

OBJ Is Waging A Silent Revolution. The Man Was And Is No Fool As Most Pple Think.
Politics › Re: Iwu Scores Self 80% by Pain(m): 8:22am On Apr 24, 2007
Yeah 80 Modulo 80
Politics › Re: Message From An Angry American Soldier by Pain(m): 8:17am On Apr 24, 2007
What A Dilemma embarassed
Politics › Re: Gen. Mohammadu Buhari Will Be President In 2007: Prophet Faleyimu by Pain(m): 8:13am On Apr 24, 2007
False Prophets Of Baal
Jobs/Vacancies › Re: Ptdf Scholaship by Pain(m): 5:02am On Apr 24, 2007
U Mean Thay Still Have Money After Atiku's Embezzlement?

Loser Atiku
Politics › Re: Who Is Really The Giant Of Africa? by Pain(m): 7:42am On Apr 23, 2007
Nigeria Is A Population Giant Not An Economic Giant.
Travel › Re: How To Stop My Brother From Trying To Travel To Malaysia? by Pain(m): 3:01pm On Apr 22, 2007
If U Can Afford To Foot His Bills(A Lot Cheaper Than UK or US) With Mordern Facilities in Most Universities , Then OK.

But, If Hes Coming Over To Hustle( Work And School) Then No No. Malaysia Doesnt Guarantee Work For Intl Students. A Couple Of Nigerians Who Come Over To Hustle Are Often Dissapointed Unless U Are Brilliant And U Have Something To Offer. We Have Quite A Nmber Of Lecturers Here Doing Well.

Most Directionless Nigerian Folks In Malaysia Are "Yahoo Boyz". So, If He Is Coming Over For Education( Expense Paid) - Very Good.

But If Else,,,,,,,,,,,,,Shove It.

Let Him Go To North America Or Europe Or Take The Best Option: Stay In Nigeria. I Swear There's No Place Like Home.

Nigeria Is Opening Up Too. With Good Leadership Things Can Only Get Better.
Celebrities › Re: Genevieve Nnaji Is Getting Married To The Son Of The Vice President Of Ghana? by Pain(m): 3:44am On Apr 21, 2007
I Thot She Was To Replace Stell* Obasanjo?

Gene**** Obasanjo?

Anyway she's still on track.
Christianity Etc › Re: The Greatest Miracle In Islam by Pain(m): 5:25pm On Apr 19, 2007
Is Anybody Ready For The Truth?

Can U Swallow The Bitter Pill?

Okay, Here It Is.

ISLAM IS A SHAM. IS-SHAM.

Still In Doubt.? Okay Meditate On This : It Takes Greater Faith To Believe The Tales In That "Book" Than What I Just Told U.

The Way To God Is Not As Complex As These Books Potray. The Book Is The Contraption of A Confused Mind. Thats Why Its Complex.

My God Is Love

Now Tell Me Which One Is Easier To Believe?

Love Or Violence?
Christianity Etc › Re: Sex Is Beautiful by Pain(m): 5:18pm On Apr 19, 2007
Yeah Its A Beautiful Gift, But Must Not Be Misused.

No Body Loves The Misuse of Any Gift He Has Given.

So Does God. Use Sex Right. True Sex Is Meant for Two Devoted Parties In Love and Anything That Would Cause The Other Party To Grieve Should Be Avoided.

For Example Cheating. It Hurts. We All Know This.
Islam › Re: Does Islam Guarantee Salvation? by Pain(m): 5:11pm On Apr 19, 2007
When will all these rubbish argument about false religion end.?

Why cant people open their eyes and realise that Islam was Mohammed's Own Contraption?

Please We All Know there is A God, but Islam is one of those Misunderstood, Violent and Wrong Paths to Him.

The Only Path to God Is Love. I know Id Get Pummeled -Vituperatively for this,

Yeah its Understandable for a World Almost Empty of That Divine Ingredient.

Love.
Christianity Etc › Re: Pat Utomi by Pain(m): 5:04pm On Apr 19, 2007
Now what the heck is religious about this?

Or is Pat one of those Messiah's Organized Religion is expecting?

Tell Me More Is He Prof. Pat of Prophet Pat shocked
Career › Re: Should I Recommend My Friend For This Job? by Pain(m): 4:53pm On Apr 19, 2007
munchkins:
Its amazing how someone who is not serious could manage and pass the 1st and 2nd stage of interviews. sometimes appearance can be deceptive and since your HR has never worked with her before, they definately can't detemine how hardworking she is or not. My honest advice to you is to come clean by telling your HR what you know about her - No addition no subtraction and hope for the best. cheers
Good Observation. How can u deduce a persons dedication to work from looks inspite of passing 2 stages of an interview?

Besides who else do you prefer to recommend? Friend or Stranger?

I believe Friendship is for times like these. Life is all about risks. Please recommend.
Dating And Meet-up Zone › Re: Most Lagos Girls Are Ugly Why? by Pain(m): 4:44am On Apr 18, 2007
@masterpwar

Why are you "Fulling" yourself? Or U Meant to say[b] Fooling [/b]Eh?

Please drop that opinion. Its a fat lie. The Unilag I Know Has, Will And Will Always Hve Beautiful Gals.

U Can Confirm that From Ben Bruce and the Silverbird Crew.

Please, Please Ive Been In Asia, Latin America but that hasnt altered my perception of the Unique Voluptious African Beauty.

Please Consult Tu Face. I Heard hes In Festac Town Where "Nothin Happens" LoL grin
Christianity Etc › Re: Festival Of Life by Pain(m): 4:33am On Apr 18, 2007
How Do we Know U Are Telling The Truth?

"Fatliar" grin

Dont Tell Me About "Pain" Thou.

Im Sure U Were Blessed wink
Dating And Meet-up Zone › Re: I Need A Girlfriend (If You Are Male, Don't Read! by Pain(m): 4:54pm On Apr 13, 2007
I Pray You Find Girl-FIENDS.[b][/b]
Christianity Etc › The End Of The World by Pain(op): 12:01pm On Apr 13, 2007
Can Someone Please Tell Me When This World Is Ending?
I Heard Its Pretty ""Soon""

I Need To Book A Ticket on Heaven's Air.

Thank You.

Now I Got U shocked grin grin grin grin
Christianity Etc › .. by Pain(op): 12:00pm On Apr 13, 2007
,
Politics › Re: "igbo Language Will Be Spoken In Aso Rock On May 29," Dr. Orji Uzor Kalu by Pain(m): 5:57pm On Apr 12, 2007
Yes. But By An Interpreter.

They Never Understand. They Just Never Do. undecided
Family › Re: Is Marital Love Depreciative In Nature? by Pain(m): 3:25pm On Apr 12, 2007
[quote author=cute-ass link=topic=47444.msg1015738#msg1015738 date=1175713787]IN A NUT-SHELL I'LL SAY SOME MARITAL LOVE MIGHT BE DEPRECIATIVE, BUT IT DOESN'T ERASE THE FACT THAT SOME ARE APPRECIATIVE cheesy[/quote]I Love You. Well Said. kiss
Politics › Re: Various Meanings Of PDP by Pain(m): 3:09pm On Apr 10, 2007
Pain Distribution Party
People Depraved Party
Pure Demonic Party

Well, enuff of it . Atikus Party is Not Better Too.

Ass*ole Congress. shocked
Asha*wo Congress.

They are all birds of th same feather singing diffrent songs.
Business › Re: How To Start An Internet Cafe In A Village? by Pain(m): 8:49am On Apr 10, 2007
Ever Heard Of WIMAX? IEEE 802.16e & d?

Im currently doing my research on that standard. Most especially the security issues involved in the 802.16e scheme. Wireless BroadBand is the Next Big Wave.

WIMAX would provide unhindered access to most remote areas. Try looking into it. Its just an advice.
Business › Re: Transnational Corporation of Nigeria Plc (Transcorp) by Pain(m): 8:39am On Apr 10, 2007
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.
Investment › Re: Transcorp Po Finally Opens At 7.50! Opinions? by Pain(m): 8:35am On Apr 10, 2007
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.
Investment › Re: How Good Is Transcorp IPO? by Pain(m): 8:33am On Apr 10, 2007
BT Terminates Agreement with Transcorp
• IPO undersubscribed
From Ijeoma Nwogwugwu in Abuja, 04.10.2007

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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.

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