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View Poll Results: Tanscorp IPO is it worth buying into?
Yes 6 54.55%
No 5 45.45%
Voters: 11. You may not vote on this poll

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  #1 (permalink)  
Old 23rd December 2006, 12:21 PM
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Default Transcorp

Given the exit of Dangote from the directors list, the compelled withdrawal of Obasanjo holdings, the apparent hype that constitute the offer and the sheer impossibility of estimating/using any fundermentals; is transcorp a good buy?
I have already decided to buy and hold short-term anyway. For the following non-technical/irrational reasons; the organization's goals appeal to me, most high risk ventures give better returns, other people aside from those who have exited are credible enough and I have a gut feeling that the company will do well.
Nonetheless, I advise pple not to invest their life savings in the offer.
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  #2 (permalink)  
Old 23rd December 2006, 09:24 PM
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Default Transcorp, HOT IPO!!! BUY BUY BUY!!!

I've mentioned on NVS that a STAG strategy for any IPO in Naija should be a good play, this applies particularly with the Transcorp IPO.

I agree with your advise i.e. "Nonetheless, I advise pple not to invest their life savings in the offer." I only consider Transcorp for a early exit strategy once dealing resumes.

RE no fundamentals: did you come across the article on how Transcorp Hilton performed excellently. No doubt the big boys understand that this their only cash generator for the mean time (0 - 24 months), and the only basis a decent valuation of their equity can be based on. Thus the perfomance of this asset so far can be used has a basis for assessing expected management perfomance going fwd.

Since you've conceded to investing in Transcorp for "........ non-technical/irrational reasons", I would not care to analyse these reasons further e.g. "most high risk ventures give better returns" (as well as losses).

Welcome Tzar, of which market in particular?

Myself, I consider myself a Fundamentalist that respects the elucidation Chartist bring to fore, but always under a Global Macro!!! HEAR HEAR!!!
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  #3 (permalink)  
Old 25th December 2006, 11:45 AM
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I agree with Tzar. With all the politicking behind this thing, I wounldnt put my one kobo inside!
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Old 27th December 2006, 02:12 PM
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well, for me, investment is all about taking risks. one thing i have come to understand about nigerian investors is that most of them are speculative and as such are moved by their emotions. they buy stocks not becauce of the fundamentals, but mostly because oof the tecnicals and this is what most people capitalise on.

if you ask me, Transcorp shares are short term investments FOR NOW. we have not really seen what the company has to offer in terms of results, earnings on equity and all that. however, the price is only rising in anticipation of what people expectthe company to do or look like.

if you ask me, i will put in my N1 million for this period that the shares are doing well based on the hype induced by the investors.
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Old 30th December 2006, 03:45 AM
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Default Transcorp!!!

I hope Transcorp will be all we are being told it will be.
Should anything happen to my hard earned money, me and my people will not hesitate to bring down the stock exchange and all the promoters of Transcorp.

However, this is our chance to prove all the skeptics wrong. For once can we all put hands on deck and make sure this wholly Nigerian corporation makes it.

We can put an end to all the fund repatriation that the internationals are doing at the present in Nigeria. Let whatever is made (dividend) in Nigeria stay in Nigeria.

*** this submission is not a blanket approval of transcorp but a piece from my heart and as a business man***
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  #6 (permalink)  
Old 2nd January 2007, 11:04 PM
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Default Transcorp Ipo

I am quite pleased joining this forum. What will be the effect of the clamp down on the 3 bank CEOs in the board to resign and the resignation of dangote on transcorp in future.? Does anybody Know why dangote resigned from the Board?
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Old 3rd January 2007, 08:38 PM
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Pls dont b mis-informed. Dangote left cos he felt DIL needed his urgent attention. U know that he also had an IPO out recently. Also there is a multi billion naira investment/expansion going on at DIL. He didn't want to combine all these together. However, his name still remains on d directors list.
As regards d bank executive that were compelled to withdraw, They were only obeying the BOFI Act, which stipulates that no bank chief executive can serve on any other board except a subsidiary of the bank.
So, u can see dat none of these withdrawals 4rm d board was not cogent.
There are other reasons why the Trancorp IPO may b risky. However I think those dat feel they want to thread riskier territory can venture, I am anyway .
CIAO
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  #8 (permalink)  
Old 4th January 2007, 06:10 PM
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Default Transcorp shares

As much as i like to invest, is Transcorp worth investing into, despite the fact that the company has no financial track record worth so ever, apart from the fact that it has lots of big wigs on board.
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Old 4th January 2007, 06:22 PM
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Anybody wanting to subscribe to Transcorp, should please read this article, which i find quite informative. Please follow link...

http://www.tmcnet.com/usubmit/-trans...04/2136441.htm
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  #10 (permalink)  
Old 7th January 2007, 09:10 PM
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Dear delaso
Thanks for that link, it was very informative. Bellow is a few line from the link
..."Prior to that the company had no balance sheet, nor operational track record - it simply did not exist (although Transcorp was incorporated in November 2004, it did not commence operations till May 2005). Yet within its brief period of existence and without the underlying fundamentals, the company has managed to qualify for its shares to be listed on the stock exchange for subsequent sale to the public in a few weeks time. This in many ways is reminiscent of the dotcom boom and crash in the US and parts of Europe in the 1990s.

To achieve this unprecedented feat, at least by Nigerian standards, the rules for listing requirements have obviously been set aside. The Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange whose Director General coincidentally is also the Chairperson of Transcorp have both granted Transcorp a plethora of waivers (does anyone smell a conflict of interest?). In other words, the company did not need strong financials, nor did it need to be profitable or present its accounts for the last five years prior to making forays into the capital market (my apologies, it had none to present in the first instance). Its ownership and government backing was all it required to scale the hurdles imposed on other companies.

Obviously Trancorp must have been emboldened by the fact that it undertook its private placement last year without recourse to SEC. That was a deviation from the norm, since all private placements in excess of N25 million must be approved by SEC after meeting certain requirements. But in Transcorp's case the company obtained a Presidential waiver exempting it from the rules, then proceeded with the private placement, following which it only sent the necessary documentation to SEC for a retroactive approval in October this year. There are indications that Transcorp was compelled to get SEC's approval due to pressure from the Economic and Financial Crimes Commission (EFCC).".....
Please can someone that knows explain why Transcorp is given all these privileges and waivers.
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  #11 (permalink)  
Old 11th January 2007, 06:34 AM
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Thank you very much prof for that insightful piece of info.

Eeh heh, you see why i am very skeptical of this thing? Anything wey govt put hand like this, I always have a very bad feeling about it.
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Old 12th January 2007, 09:04 AM
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i want to say i appreciate all that has spoken ,because i was about to buy the shares but from the look of thing i dont think am interested in buying it again.
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Old 12th January 2007, 01:37 PM
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Quote:
Originally Posted by simone View Post
I am quite pleased joining this forum. What will be the effect of the clamp down on the 3 bank CEOs in the board to resign and the resignation of dangote on transcorp in future.? Does anybody Know why dangote resigned from the Board?
Dangote has resigned but he still has over 3million shares and I guess he wants his profile to be know with his company and not transcorp
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Old 12th January 2007, 11:32 PM
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Dear Friends
Have you guys checked the unabridged Prospectus for the Transcorp offer? I think it is interesting that the information as important as below is not in the abridged version or maybe I didn't check well for it.
... "As at 31 October 2006, TransCorp had secured bank loan in the ordinary course of business amounting to N67.1
billion. The Company also had contingent liabilities in the ordinary course of business amounting to USD $10 million,
comprising of a bid bond guarantee. However, apart from the aforementioned, the Company had no outstanding
debentures, mortgages, charges or similar indebtedness as at 31 October, 2006."
And for the dividend lovers the first time a dividend is prosposed from the forcast is in 2010 financial report and guess what the amount is 5kobo per share! So the only thing one is expecting before then is capital appreciation which I don't know what will push it up except we have a complete turn around in all component part of the company and its management.
These are just my thoughts I may be wrong. I need further clarifications if am seeing it from the wrong side.
Have a great weekend!
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Old 16th January 2007, 06:04 AM
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Default Transcrop IPO

Can anyone give a server link for Transcorp IPO please? Or how else can I lay my hands on a copy as I'm not based in Nigeria.

Thanks
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Old 16th January 2007, 03:45 PM
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The Transcorp prospectus shoudl be here
http://www.transcorpnigeria.com/ipo/...ntent&pageid=7
but it seems something is wrong with the Transcorp website. Also see this page on the Transcorp website http://www.transcorpnigeria.com/ipo/index.php
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Old 27th January 2007, 02:41 PM
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Folks,

The Transcorp IPO is gamble that means different things to different people. For the naturally pessimistic, they would only see the negatives of the organisation and the possible negative impact of the intrustion of the present government. They would only fear what would happen to transcorp when their seeming godfather administration leaves in May 2009 (may be that is why they ensuring that they finish their IPO before OBJ leaves).

Howver for the optimistic ones, they see the prospects of Chaebol in the offing. To grab this is an opportunity of a life time. That Transcorp (with or without Govt support) has acquired Hilton in Abuja and now Nitel, speaks volumes of what they can become. Also looking at the quality of private sector managers in the organisation gives one room for belief that they are not fake or unwise.

So in the end, it depends on how you view it. The famous guru in investing Graham in his book "the intelligent Investo" talks about the stockmarket as a pendulum swinging from unjustifiable pessimism and unsustainable optimism. So it is up to you to determine which phase of the swing Transcorp is in order to make an intelligent buy. If it is indeed in the realm of unjustifiable pessimism, then many would regret not buying when the stock appreciates as per current speculation. If it is however in the realm of unsustainable optimism, then you have only N7.5o to lose compared to investment in the N100s region.

So my advice, better be wise with discretion and buy just enough that would not make you cave in if the stock goes under but also would make you not regret if the takes off for the roof. That figure - na only you go know.

Cheers
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  #18 (permalink)  
Old 17th February 2007, 02:44 PM
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Now that Transcorp Public offer is now ended and soonest the suspension on transcorp shares will soon be lifted,

Is it a good decision(for optimistic people anyway) to buy at the pegged down price of 9.71 before the suspension is lifted and dispose before the certificates are out? assuming it has only one place to go ---> UP.

What do you see of transcorp shares after the suspension?

I wish to make a decision and act accordingly before the suspension is lifted.
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Old 17th February 2007, 05:22 PM
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Yeah, buy now because the price will lift off immediately after the technical suspension.
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Old 23rd February 2007, 01:10 PM
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...question, I have noticed that even though TransCorp is suspended (technical, because of the IPO), there is still some behind the scene trading going on as the NSE has reflected it frequently in its volume category over the period it was/is on suspension... Example today (23/02/07).

Is this allowed, or is this the same money bizness / special treatment Transcorp has been enjoying? Transcorp stinks - I never liked this stock. I think it is bad mid-long term (of course the hype will allow for short term gain).

????
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