Transcorp Group, a leading conglomerate in Nigeria, says its listed entities now have a market value of N4.5 trillion (USD 3 billion).
This was disclosed at the 19th Annual General Meeting (AGM) in Abuja on Wednesday, marking another milestone in its journey of growth, resilience, and transformation.
Transcorp’s Chairman, Mr. Tony Elumelu disclosed this in a post on his official Facebook handle, saying “the market value of Transnational Corporation Plc (Transcorp Group) listed entities is $3 billion (N4.5 trillion naira) as at today.”
A leader in energy and hospitality industry, Transcorp Group’s contributions to Nigeria’s economy are significant, particularly in the energy sector.
He said: “The company has a combined installed capacity of 2000MW and generates about 1000MW of electricity, which is a substantial portion of Nigeria’s total electricity utilization. This is achieved through its subsidiaries, Transcorp Power Plc and TransAfam Power.”
The company’s market value has grown exponentially since Heirs Holdings took over in 2011.
From a market value of less than N20 billion, Transcorp Group’s listed entities now have a market value of USD 3 billion (N4.5 trillion), excluding TransAfam Power Plant and Abuja Electricity Distribution Plc (AEDC).
This remarkable growth is a testament to the company’s commitment to delivering value to its stakeholders.
Transcorp Hotels Plc, the company’s hospitality arm, has recently launched its 5,000-capacity event centre, Transcorp Event Centre.
This state-of-the-art facility is the first of its kind in the region and sets a new benchmark for events and hospitality in Nigeria.
The Chairman of Transcorp Group expressed his pride in the company’s achievements, thanking the management team, led by Group CEO Owen Omogiafo, and the esteemed shareholders for their unwavering trust and support.
He added: “Reflecting on our @transcorpgroup’s journey. In 2011, @heirsholdings saw extraordinary value, an opportunity to turnaround a national asset, to make good on the promise to Transcorp’s more than 300,000 shareholders.
“It has been a remarkable transformation, implementing a robust execution strategy and strong corporate governance.
“Today, Transcorp Group’s combined market value has grown from N12.9bn when we took over to an astonishing USD 3 billion.
“Thanks to shareholders, directors, CEOs and every member of our workforce led by @owenomogiafo 🙏🏽.”
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