By Mishack Okpara

Share certificates of investors who took part in the private placement of Nigeria’s mega corporation,  Transnational Corporation, have been sent out. According to the registrars, Afribank Registrars Ltd, the final batch were mailed out in at the end of August. Shareholders are however advised to check with their stockbrokers as many of the certificates were picked up by stockbroking firms on behalf of their clients. All shares applied for were allotted.

It would be recalled that Transcorp had a very successful private placement during the first quarter of the year. Setting a target of N6 billion, the company was able to raise about N17 billion by the close of the placement on March 31.The company plans to embark on an  Initial Public Offer before the end of this year.

 
 Transcorp has bought high profile public enterprises being offered for sale by the government through the Bureau of Public Enterprises (BPE). It has been allocated two oil blocks which places it in good stead to compete with the multi-national corporations that have been doing business in Nigeria for decades. Similarly, it bought the Hilton Hotel in the nation’s capital and recently NITEL, the state-owned telecommunication outfit. It only completed payment for NITEL a week ago.

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This entry was posted on Thursday, September 7th, 2006 at 5:24 pm and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. Tags: Transcorp
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