Transcorp Power Plc was listed on the Nigeria Exchange on Monday, March 4th, with its share price gaining 10 percent and closing at a value of N264 per share.
Gatekeepers News reports that as a result, the company’s valuation reached N1.98 trillion, indicating a huge increase of N180 billion on the first day of trading.
This company is part of the Transcorp Group conglomerate, which includes power, hospitality, and manufacturing. It was listed by introduction on the exchange at a share price of N240 per share and has become the second power company to be listed on the exchange, after Geregu Power Plc.
Gatekeepers News reports that Transcorp Power Plc operates the Ughelli Power Plant in Delta State, with an installed capacity of 972MW.
The plant had an available capacity of 160MW at the time of acquisition. However, Transcorp Power invested and increased the available capacity to 680.83MW (a 227% increase) within four years of acquisition, surpassing the 5-year target of 670MW set by the Bureau of Public Enterprises.
Transcorp Power Plc is a West African Power Pool member and a participant in the ECOWAS Regional Electricity Market. It supplies electricity to the ECOWAS Regional Market.
