Transnational Corporation Plc (Transcorp Group) has announced the listing of its subsidiary, Transcorp Power Plc (Transcorp Power or TP Plc), on the Main Board of the Nigerian Exchange (NGX) through a listing by introduction.
The listing is scheduled to take place on Monday, March 4, 2024.
To provide more information about the listing and the company, TP Plc’s management, led by CEO Mr. Peter Ikenga, will hold a “Facts Behind the Listing” session at NGX Group House at 2:45pm.
This session will be attended by Trading License Holders, Analysts, Press, and Investors.With this listing, Transcorp Group will have two subsidiaries listed on NGX, demonstrating its commitment to creating value for the Nigerian public and driving economic growth in the country.
Transcorp Group will retain a significant holding in Transcorp Power Plc. Transcorp Power Plc operates the Ughelli Power Plant in Delta State, which has an installed capacity of 972MW. Since its acquisition, the plant’s available capacity has increased from 160MW to 680.83MW, surpassing the Bureau of Public Enterprises’ 5-year target of 670MW.
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Transcorp Power Plc is also a member of the West African Power Pool and supplies electricity to the ECOWAS Regional Market.Transcorp Group is a leading listed company in Africa, with strategic investments in the power, hospitality, and energy sectors.
The company is driven by its mission to improve lives and transform Africa. Its power businesses, Transcorp Power Plc and Transafam Power, contribute 15% of Nigeria’s installed power capacity. Additionally, Transcorp Group is focused on developing Nigeria’s domestic energy value chain through its investments in OPL287.
The Group’s listed hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and has launched digital platform Aura by Transcorp Hotels.
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