Business
By Anthony Isibor
THE Transnational Corporation Plc, Transcorp Group, is to announce the listing of its subsidiary, Transcorp Power Plc, Transcorp Power or TP Plc on the Main Board of the Nigerian Exchange, NGX.
According to a statement signed by Stanley Chikwendu, Group Company Secretary, there will be a “Facts Behind the Listing” at the NGX Group House on Monday, March 4, 2024. at 2:45pm.
Peter Ikenga, Chief Executive Officer, will lead the Management of Transcorp to provide information to Trading License Holders, Analysts, Press and Investors about the listing and the company by the same time.
“Following this listing, Transcorp Group will have two subsidiaries listed on the NGX, demonstrating 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% 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,” the statement said.
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-March 04, 2024 @ 14:21 GMT|
Tags: Peter Ikenga Stanley Chikwendu Transcorp Group
