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    Tuesday, August 25

    Market Value of Transcorp Plc Grows by 19% to N691bn

    Julius AlagbeBy Updated: News No Comments1 Min Read
    Market Value of Transcorp Plc Grows by 19% to N691bn

    Market Value of Transcorp Plc Grows by 19% to N691bn

    Transcorp Plc gained 19% as the company shares became popular among alpha seekers.  The company saw valuation climbing above N691 billion ahead of the first quarter of 2024 earnings released.

    In 2023, Transcorp Plc delivered good earnings despite macroeconomic headwinds. Its better-than-expected earnings performance posted last year drove higher expectations for the company’s next results.

    Data from the Nigerian bourse showed that the conglomerate company’s share price rose to N17 on Friday. It had opened the just concluded week at N14.28 per share. Its share price has been gaining amidst the Nigerian Exchange’s seesaw movements.

    Some analysts said the recent listing of its subsidiary, Transcorp Power Plc, has positive rub-off effects on the investment company. This drove buying sentiments experienced in the stock market.

    Transcorp Plc controls 51.57% of Transcorp Power Plc, amounting to 3.87 billion out of 7.5 billion outstanding shares of the electric power generating company as of Dec 2023. #Market Value of Transcorp Plc Grows by 19% to N691bn

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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