Investors Are Buying Transcorp Plc Shares – Intraday Data
Equities investors are positioning in Transcorp Plc share, details from the Nigerian Exchange platform showed. At the moment, the company share price is climbing further following a 10% upward re-rating achieved in the local bourse yesterday.
At the time of writing, Transcorp Plc’s share price has inched higher to N18.99 from N17.27, according to stock market data. Its market valuation printed at N772 billion from N580 billion last week.
MarketForces Africa noted that Tony Elumelu’s interest in Transnational Corporation Plc has increased significantly after a strategic move of rival billionaire Femi Otedola to take the reins of the affair of the conglomerate with the acquisition of a large share in 2023.
In reaction, Elumelus consolidated its position in the Group which principally engaged in the power, agro-allied, oil & gas and hospitality industry by ramping up more shares to stem off possible hostile share acquisitions.
Details showed that now, the major shareholder is HH Capital Limited with 11,986,909,845 shares being 29.49% of the group’s shareholding structure. In its latest earnings result submitted to the regulator, Transcorp Plc posted N34.087 billion, a significant increase from N16.624 billion achieved in 2022. #Investors Are Buying Transcorp Plc Shares – Intraday Data
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