Transcorp Power is poised to list 7.5 billion ordinary shares of 50 kobo each by introduction on the Nigerian Exchange Limited (NGX) come Monday, March 4, 2024. The shares are anticipated to be listed at N240 per share, and the power company plans to conduct the Closing Gong Ceremony of the NGX, followed by a presentation of its Facts Behind the Listing.

During this event, Transcorp Power will share comprehensive market information regarding its financial performance with stockbrokers, investors, analysts, fund managers, and capital market correspondents. The move aims to foster transparency and enhance stakeholders’ understanding of the company’s position in the market.

Transcorp Power, a subsidiary of Transcorp Plc, acquired the distressed power generating company, Ughelli Power Plc, during the privatization of Nigeria’s national power assets in September 2012. The $300 million investment was part of Heirs Holdings’ commitment to the USAID’s Power Africa initiative. In November 2015, the merger of Transcorp Ughelli Power Limited and Ughelli Power Plc birthed Transcorp Power Limited, streamlining the management and operations of Transcorp’s power business for greater efficiency.

Since taking ownership in 2013, Transcorp Power has significantly increased the generating capacity of the Ughelli Power Plant, growing it by 525% from its initial daily production of 160MW to its current installed capacity of 972MW. The company has ambitious plans to further expand its capacity to over 3,000MW in the next five years. Transcorp Power plays a crucial role in the energy sector, contributing electricity to the national grid through its network of conductors.

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