Igi

[balaliyu]

Its unfortunate that there is no "regulatory" oversight for PPs. This just highlights how dangerous they can be.

But is still baffles me that IGI can really treat investors this way....imagine 1 year plus- no word. Such a shame. I even consider myself somewhat lucky, 'cos I bought into the PP very late - like 6 months after it 'closed', but some friends plugged in since 2006.

I will not touch their planned PO by any chance. I already have a basis to infer how credible the company managment can be.

Lets keep waiting...and praying...

Cheers...B

[Soweto]

Any idea when IGI will be listed on the NSE

[hispy99]

Originally Posted by Soweto

Any idea when IGI will be listed on the NSE

For those in Nigeria, is this story true? Govt takes over NICON and Nigeria RE

NigerianSecurities - Analysis

[Apache]

FG okays 49 insurance firms, sacks NICON, Nigeria Re boards

I guess you can read for yourself

[Apache]

IGI gets licence to float bank in Uganda

These IGI guys are just crooks. they have held on to my money for close to 2 years now and nothing is been heard or done about it meanwhile they have started using the monies for running their business and i am very sure that we won't be getting dividends

[c kenneths]

That's the risks of PP, I am very wary of that angle.

[Apache]

Finally, these IGI guys don give themselves brain. The allotment was posted in the guardian newspaper today on pg 78. A total of over =N=15b was raised and 7.9b shares were issued. the offer was 273.98% subcribed and fully alloted. certificates will be despatched by post not later than Dec 18th.
whew! now i can watch my money grow

[newton]

Fantastic! Hopefully they'd be listed subsequently. Lets see the certified but unlisted insurance firm take a que and witness some real growth in the sector.

[crtide]

That is some good news, I just hope it will not take forever for them to get listed or verify certs

[DaInvestor]

thank God, thought this day will never come. hope they get listed and dispatch certs soon. got all my money tied down on this stock
good to be back after a brief break
pumping keep pumping, c kennet keep up the good work, moderator u,ve been excellent, to all the new guys welcome on board

[Cedar]

Originally Posted by DaInvestor

thank God, thought this day will never come. hope they get listed and dispatch certs soon. got all my money tied down on this stock
good to be back after a brief break
pumping keep pumping, c kennet keep up the good work, moderator u,ve been excellent, to all the new guys welcome on board

if i were you i wouldn't do that!
you know what they say, ''do not
put all your eggs in one basket''
Growth stocks or not.

[crtide]

Originally Posted by Cedar

if i were you i wouldn't do that!
you know what they say, ''do not
put all your eggs in one basket''
Growth stocks or not.

That "good" advise is a little belated though.
On the contrary, have you seen the warren Buffet quote on someone's signature here. Sorry I can't remember who it is "concentration builds wealth, diversification preserves it"

[balaliyu]

Is it just me or did anyone notice that the allotment annoucement mentioned over 7 billion shares of 50k each were alloted. I thought the PP prospectus offered shares of N1 to prospective investors..... What has happened???

Will like someone else to confim..but if IGI has really played such a fraudulent switch, I wonder if they can get away with it under the PP terms....

Cheers....B

[Taipan]

Originally Posted by crtide

That "good" advise is a little belated though.
On the contrary, have you seen the warren Buffet quote on someone's signature here. Sorry I can't remember who it is "concentration builds wealth, diversification preserves it"

I guess its all a question of objectives and risk tolerance

[Apache]

Originally Posted by balaliyu

Is it just me or did anyone notice that the allotment annoucement mentioned over 7 billion shares of 50k each were alloted. I thought the PP prospectus offered shares of N1 to prospective investors..... What has happened???

Will like someone else to confim..but if IGI has really played such a fraudulent switch, I wonder if they can get away with it under the PP terms....

Cheers....B

I still have the PP prospectus at home. will confirm it tomorrow. But that will be very cruel of these guys if what you are saying is true. i wonder what IBTC and Vetiva will have to say afterall they were the issuing house

[crtide]

May be its going to be a split so that your N1 application is allotted as two N0.50k units.
I must say I have not seen the allotment announcement

[Apache]

Originally Posted by crtide

May be its going to be a split so that your N1 application is allotted as two N0.50k units.
I must say I have not seen the allotment announcement

i don't even want to dream about my number of units becoming double in terms of volume because if i try am, the money i might be making will make become a regular face at Coscharis BMW auto centre.
anywayz, back to reality. will confirm all this tomorrow

[Walcolm]

@babaliyu,
when a company does a PP, they can give their shares any nominal value i.e. N1, N10 etc but for a company to be listed on the NSE, the nominal value must be N0