The hospitality services company will henceforth participate fully in trading activities as it has secured approval from the Securities Exchange Commission (SEC), the apex regulator of the Nigerian capital market.
Speaking at the listing ceremony, the Managing Director /Chief Executive Officer of Transcorp Hotels, Mr. Valentine Ozigbo unveiled the company’s plans for accelerated growth and sector leadership this year. Ozigbo said, “We are leveraging on a formidable team of experts, and we are well-positioned to continue delivering world-class hospitality services to our stakeholders. As a publiclylisted company on the NSE, our shareholders can be assured of high standards of disclosure and transparency, in addition to achieving superior returns on their investments and consistent delivery of world class experience to all our guests”.
Also speaking, the President of Transcorp Plc, Mr. Emmanuel Nnorom expressed delight for the listing of Transcorp Hotels shares, saying, “It has been a privilege for us to be honoured in this way by the NSE. Our ringing of the bell is historic and clearly symbolic, because we intend to make great, resonant sounds throughout this year —our target is the establishment of Transcorp Hilton Hotel in Ikoyi, Lagos and another at Port Harcourt. We are delighted to be able to officer the Nigerian public the opportunity to participate in our potential for success in the future.”
Responding, the NSE, CEO, Mr. Oscar Onyema, commended the company for joining a league of quoted companies and advised the management of Transcorp Hotels to keep the market abreast of its activities and plans as the market is information driven. He said, “We are honoured and privileged to list Transcorp Hotels and we will ensure full, world class compliance at all times.” Transcorp Hotels raised N4.2 billion in an Initial Public Offering (IPO) that was opened to the investing public between September and October 2014, at the share price of N10 per share.
Meanwhile, Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp). Transcorp Hotels owns and operates Transcorp Hilton Abuja, which provides luxury accommodation, world class cuisine, conferencing and leisure facilities to business travellers and tourists from all over the world. The Company also holds 100 per cent interest in Transcorp Hotels Calabar Limited, which owns and operates the Transcorp Hotel in Calabar.
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