Transcorp Plc opens doors to new investors

Transnational Corporation (Transcorp) Plc has opened its doors to new investors to take up a stake in the diversified investment company.

Although Transcorp revealed on Thursday that the company was yet to receive notification from any purported investor who acquired substantial shares in the firm, it said it was open to new investors.

There have been reports this week that a substantial investor bought over one billion shares of Transcorp, worth N2.1 billion, on Tuesday.

Currently, the highest shareholder in Transcorp Plc is UBA Nominees Limited Trading. The investment firm owns 5 per cent of Transcorp.

In a corporate document sent to shareholders and the capital market, Transcorp said the doors are open for a new investor interested in its shares.

“Transnational Corporation Plc (“Transcorp” or “the Company”) notes the recent media reference to the acquisition of shares in the Company.

Read also:Transcorp Hotels increases profit by 172%, revenue up 47% to N31.4bn

“Whilst the Company has not yet received formal notification of any relevant interest in its shares, Transcorp, Nigeria’s largest listed conglomerate, known for its broad and diversified shareholder base, welcomes every new shareholder acquiring shares in the Company.

“We welcome this expression of confidence in the leadership and management of Transcorp, as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.

“We remain resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, our transformation agenda and our ability to contribute positively towards building prosperity.

“The Group released its financial results for the full year ended December 31, 2022, showing total revenue rose by 21%, from N111.2billion in December 2021 to N134.7billion in the period under review. Transcorp’s share price has risen by 23.9% year to date,” the statement in the document reads.

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