Geregu Power Talks to Investor for Part Acquisition

Geregu Power Talks to Investor for Part Acquisition

Geregu Power Plc and Fund for Export Development in Africa, an impact development arm of the Africa Export and Import Bank – are in talks for the acquisition of a portion of the local power generating company, according to a regulatory filing.

The Nigerian focused power generating share has gained about 23% since it became a listed company in the local bourse in the second half of 2022. Investors currently value the company which is listed on the Nigerian Exchange at N307 billion with 2.5 billion outstanding shares sold at N122.80 on Friday.

Geregu Power was listed at N100 this year and had hit a 52-week high at N130.2. The company has been in the debt capital market to raise funds for expansion and improve working capital.

The company recently completed N40 billion in bonds raised in the local debt capital market this year. READ: Geregu Power, Chaired by Femi Otedola, to Raise N40bn Bonds

“The discussions are currently ongoing and where these talks progress to a more advanced stage, the Company will notify the Exchange and the investing public in line with the rules of the Exchange”, the company told investing public.# Geregu Power Talks to Investor for Part Acquisition