Transcorp Power Plc made its debut on the Nigerian Exchange on Monday, March 4th, experiencing a remarkable 10% increase and closing at a share price of N264 per share.
This surge resulted in a valuation of N1.98 trillion, representing a significant gain of N180 billion on its first day of trading.
The company, listed by introduction on the exchange at N240 per share, is a subsidiary of the Transcorp Group conglomerate, which operates across the power, hospitality, and manufacturing sectors. Transcorp Power Plc becomes the second power company listed on the exchange, following Geregu Power Plc. While Geregu Power trades at 55.5 times its book value, Transcorp Power is trading at 25 times its book value, suggesting potential for further capital appreciation.
The listing signifies investor confidence in Transcorp Power’s growth prospects and underscores its strategic position in Nigeria’s power sector.
Source: Nairametrics