Transcorp IPO deadline extension ends

20 Feb 2007

Time has now been called on potential investors to subscribe to shares in Transnational Corporation (Transcorp), which owns 75% of Nigeria’s incumbent telco NITEL and its mobile subsidiary M-Tel. The initial public offer (IPO) of eight million nominal NGN0.5 ordinary shares, priced at NGN7.50 (USD0.06) each, commenced on 27 December 2006 and ran throughout January 2007, was extended until 14 February. Around 2,400 Nigerian companies and individual investors are thought to have become shareholders.

Nigeria, ntel (formerly NITEL/M-Tel)