Transcorp Plc completes share capital reconstruction

By Esther Agbo

Transnational Corporation Plc (Transcorp) has reshaped its capital framework by reducing its issued shares by 75 percent. The initiative brings Transcorp’s total shares from N40.6 billion down to N10.2 billion following a 1-to-4 share consolidation.

The President of Transcorp, Owen Omogiafo, emphasised that the share reconstruction aligns with the company’s overarching corporate strategy to enhance operational efficiency while ensuring that the total value of shareholders’ investments remains stable.

“This share reconstruction is in line with the Company’s corporate strategy and growth plan and is aimed at maximising shareholder value. The action will bring the company’s capital structure to a manageable position,” Omogiafo stated.

The reduction in share volume is expected to optimise Transcorp’s capital structure, making it more manageable and better suited for future growth prospects.

“Transcorp Plc remains committed to driving growth and creating value for its shareholders,” Omogiafo said, reiterating that Transcorp remains dedicated to driving progress within Nigeria’s energy sector, noting that its subsidiaries, Transcorp Power Plc and Transafam Power Limited, contribute over 20 percent of Nigeria’s installed power capacity.

With this restructuring complete, Transcorp positions itself to continue expanding its footprint within the Nigerian energy market, focusing on enhancing domestic energy production and renewable initiatives.