The newly listed company on the main board of the Nigerian Exchange Limited (NGX), Transcorp Power Plc, crossed N2 trillion in market capitalization on Tuesday amid a surge in demand by investors. The market capitalization of the power generating company closed at N2.18 trillion, up from its listing value of N1.8 trillion on NGX. Transcorp Power now surpasses Transcorp Hotels Plc with over N1 trillion and Transcorp Incorporated Plc with N701.99 billion in market capitalization as of March 5, 2024.
Transcorp Power was listed at N240 per share and closed at N290.40 per share, gaining 10% on the first trading day. It further appreciated by 10% to reach N290.40 per share on Tuesday. On the first day of listing, Transcorp Power was the second most traded stock on the Exchange, trading 40 million shares and N10.56 billion by market value to close at N264.00 per share after gaining 10%.
On the second day, Transcorp Power rose by 10% or N26.40 per share to close at N290.40 per share.
During the listing on NGX, the Chief Executive Officer of Transcorp Power, Peter Ikenga, emphasized the company's transformation in ownership, transitioning from a government-owned asset to a leading private sector-led organization. He highlighted Transcorp Power's pivotal role in
Post a Comment