Transcorp Power share price gains 10% on listing

Transcorp Power, a leading player in Nigeria's power sector, saw its share price surge by 10% on Monday, closing at 264 naira. The positive momentum continued as the power firm listed 7.5 billion shares through introduction at an initial price of 240 naira per share. Emmanuel Nnorom, Chairman of Transcorp Power, revealed that a total of 40 million units were sold on the first trading day, totaling 10.5 billion in value. This successful listing marks a significant milestone for the company, signaling confidence from investors and providing opportunities for growth and capital expansion. Nnorom emphasized the importance of encouraging other companies to follow suit and consider listing to attract more investors and enhance market participation. He also highlighted the evolving landscape of the power sector, driven by new regulatory developments that create opportunities for investment and innovation. The company's commitment to efficiency, performance improvement, and value creation for stakeholders underpins its strategy for sustainable growth. With a target of reaching 3,000 megawatts of generation capacity, Transcorp Power is poised to make a lasting impact on Nigeria's energy landscape. Despite the constraints posed by transmission challenges affecting power generation, the company remains focused on enhancing its operational capacity and addressing infrastructure gaps. Nnorom's vision for the company extends beyond mere market share, emphasizing the importance of governance, visibility, and strategic positioning in line with industry trends. As Nigeria's power sector continues to evolve, Transcorp Power is gearing up to leverage its listing to drive innovation, foster partnerships, and contribute to the country's energy transition. The company's listing is not just about raising capital but also about consolidating its market presence, enhancing corporate governance practices, and seizing opportunities for expansion in a dynamic sector. With a strong foundation of operational excellence and a clear growth strategy, Transcorp Power is well-positioned to navigate the evolving power landscape and unlock new opportunities for sustainable development.