TRANSCORP Power Plc gained 10 per cent on the first day of its listing and trading on the Nigerian Exchange on Monday, March 4, closing at N264 per share.
This development led to a valuation of N1.98trillion, indicating that it gained about N180billion on the first day of trading.
The company, which was listed by introduction on the exchange at a share price of N240 per share, is part of the Transcorp Group that is into power, hospitality and manufacturing sectors of the economy.
It becomes the second power company to be listed on the exchange, after Geregu Power Plc, whose last traded at 55.5x book value, as against Transcorp Power’s 25x its book value.
