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    Thursday, May 28
    Analysis

    Transcorp Power Plunges by 10% ahead of Earnings

    Julius AlagbeBy Updated:No Comments2 Mins Read
    Transcorp Power Plunges by 10% ahead of Earnings

    Transcorp Power Plunges by 10% ahead of Earnings

    Transcorp Power Plc plunged by about 10% in the equities market as investors exited their positions in the power-generating company’s stock ahead of the fourth quarter earnings release.

    The activities of the sell-side actors reduced Transcorp Power Plc to N324 midweek from N359.90, losing 9.97% of its market value in one day. The huge price decline occurred over about 267,000 shares that exchanged hands in the Nigerian bourse on Wednesday.

    The significant price decline dragged the power-generating company’s market value to N2.430 trillion, according to data obtained from the Nigerian Exchange.

    Stockbrokers review showed that Transcorp Power is not trading at more than 16% discount to its 52-week in the equities market. The company share price had reached its all-time high of N386.40 before it retraced due to negative investors’ sentiments on power-generating company shares.

    Transcorp Power Plc declared a close period on January 1 as its board of directors met to approve fourth quarter earnings and audited financial statements for financial year 2024.

    The company said no insider and their connected persons may directly or indirectly deal in the securities of the company until twenty-four hours after the release of the 2024, Q4 unaudited financial statement, and the 2024 audited financial statement. #Transcorp Power Plunges by 10% ahead of Earnings FBN Holdings Records Huge Off-Market Shares Transactions

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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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