Transcorp Power Plc Listing Sparks Surge in Energy Sector Interest in Capital Market

The recent listing of Transcorp Power Plc on the Nigerian Stock Exchange has ignited a wave of enthusiasm among energy sector players, signaling a significant shift towards capital market engagement.

With the introduction of 7.5 billion ordinary shares at N240 per share, Transcorp Power Plc entered the market with a bang, boasting a market cap worth N1.8 trillion.

The reception was nothing short of remarkable as the stock surged by 10% on its first trading day, closing at N264 per unit.

By the end of the week, it had appreciated by 46.38% to N351.30 per share.

This unprecedented success has not gone unnoticed with financial analysts and stockbrokers heralding the listing as a catalyst for broader market participation.

Vincent Ugwu, Managing Director/CEO of De-Lords Securities Limited, explained the allure of the capital market for power sector players, citing its capacity to raise low-cost capital.

He highlighted the abundance of opportunities within the sector, including those in the gas value chain, widening areas of coverage, and cross-border power sales.

Echoing similar sentiments, Mike Eze, CEO of Crane Securities Limited, commended the reception of Transcorp Power Plc’s listing by Nigerian investors, underscoring the market’s ability to absorb funding demands from the power sector.

Abdulmumin Ali, an Abuja-based financial analyst, projected sustained growth for Transcorp Power Plc shares, urging early investors to seize the opportunity for substantial returns in the short to medium term.

Speaking at the listing ceremony, Transcorp Power’s Managing Director, Peter Ikenga, expressed pride in the company’s dedication to Nigeria’s growth and its commitment to delivering sustainable energy solutions.

As the energy sector increasingly embraces the capital market, the listing of Transcorp Power Plc stands as a testament to the market’s potential to drive sectoral growth and innovation in Nigeria.