Transcorp Power’s valuation climbs to N1.98 trillion after Lagos listing

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The company is the second under the Transcorp conglomerate to be carved out of the parent and listed as a separate entity.

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The power utility listed 7.5 billion shares at N250 per unit, which were admitted to the Nigerian Stock Exchange ’s main board, the listing segment for companies with high standards of disclosure and corporate governance. The company is the second under the Transcorp conglomerate to be carved out of the parent and listed as a separate entity, its listing coming nine years after the hospitality arm of the group, Transcorp Hotels, gained public company status in Lagos and was admitted to the NGX.Transcorp Power’s listing comes seventeen months after that of rival Geregu Power, which was listed at N250 billion but is currently worth N2.5 trillion in market capitalisation.

Source: News Formal (newsformal.com)

 

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