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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