- Transcorp Power Plc joins the NGX Main Board through an introduction.
- Company session to provide insights on listing and operations.
Transnational Corporation (Transcorp) Plc subsidiary, Transcorp Power Plc, joins the Nigerian Exchange, NGX Main Board, through a listing by introduction announced Monday. In a statement, the Group’s company secretary, Stanley Chikwendu, announced a “Facts Behind the Listing” session at the Nigerian Exchange.
This event will feature the management of Transcorp Power, led by CEO Mr Peter Ikenga. It provides insights to trading license holders, analysts, press, and investors regarding the listing and the company’s operations.
With the listing of Transcorp Power Plc, Transcorp Group now has two subsidiaries listed on the NGX. It underscores its commitment to generating value for Nigerian stakeholders and driving economic growth.
The statement affirmed that Transcorp Group will maintain a significant stake in Transcorp Power Plc. Transcorp Power operates the Ughelli Power Plant in Delta State, boasting an installed capacity of 972MW. Since its acquisition, the plant’s capacity has remarkably increased from 160MW to 680.83MW. Within four years, it surpassed the Bureau of Public Enterprises‘ five-year target of 670MW.
“Transcorp Power Plc actively participates in the West African Power Pool and plays a vital role in the ECOWAS Regional Electricity Market. This is done by supplying electricity to the region,” emphasised the statement.
Transcorp Group maintains strategic investments in the power, hospitality, and energy sectors. As one of Africa’s premier listed companies, it aims to enhance livelihoods and drive transformation across the continent.
The power businesses under Transcorp Group, including Transcorp Power Plc and Transafam Power, collectively contribute 15% of Nigeria’s installed power capacity. The Group reiterated its commitment to bolstering Nigeria’s domestic energy value chain through its investments in OPL 287.