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Transcorp Power marks a milestone with listing by introduction on the NGX main board

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Transnational Corporation Plc has officially announced the listing of its subsidiary, Transcorp Power Plc, through a listing by introduction on the Main Board of the Nigerian Exchange (NGX), scheduled for Monday, March 4, 2024.

The unveiling of this significant development will be accompanied by a “Facts Behind the Listing” session at the NGX Group House at 2:45 p.m..

The management of TP Plc, led by Chief Executive Officer Peter Ikenga, will use this platform to share crucial information about the listing and the company with brokers, dealers, trading licence holders, analysts, the press, and investors.

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This strategic move positions Transcorp Group with two subsidiaries listed on the NGX, underscoring its unwavering commitment to creating value for the Nigerian public and fostering economic growth in the nation. Transcorp Group will maintain a substantial holding in Transcorp Power Plc.

Transcorp Power, the operator of the Ughelli Power Plant in Delta State with an installed capacity of 972 MW, has showcased impressive growth since its acquisition.

Initially possessing an available capacity of 160 MW, Transcorp Power invested and increased it to 680.83 MW within four years—a remarkable 227% surge, surpassing the 5-year target set by the Bureau of Public Enterprises.

Transcorp Power Plc, a member of the West African Power Pool and a participant in the ECOWAS Regional Electricity Market, now contributes to the ECOWAS Regional Market’s electricity supply.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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