Transcorp Power Plc has officially listed by Introduction on the the main board of the Nigerian Exchange (NGX), on Monday, March 4, 2024.
In a statement on board, Transcorp Power Plc announced that it was listing by introduction.
Transcorp Power Plc is a subsidiary of Transnational Corporation Plc (Transcorp Group).
Following this listing, Transcorp Group will have two subsidiaries listed on the NGX, demonstrating further its commitment to creating value for the Nigerian public and catalyzing economic growth in Nigeria. Transcorp Group will continue to maintain a significant holding in Transcorp Power Plc.
Transcorp Power operates the Ughelli Power Plant in Delta State, with an installed capacity of 972MW. At the time of acquisition, the plant had an available capacity of 160MW. Transcorp Power invested and increased the available capacity to 680.83MW (a 227 percent 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 member of the West African Power Pool and a participant in the ECOWAS Regional Electricity Market. Today, Transcorp Power supplies electricity to the ECOWAS Regional Market.
Transcorp Power Plc also hosted a “Facts Behind the Listing” at the NGX Group House at 2:45pm, where the Management of TP Plc, led by the Chief Executive Officer, Mr. Peter Ikenga provided information to Brokers, DealersTrading License Holders, Analysts, Press and Investors about the listing and the companythe Company.
Transcorp Group’s power businesses, Transcorp Power Plc and Transafam Power, provide 15 percent of Nigeria’s installed power capacity.