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Tag: Transcorp

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Transcorp eyes diversification to boost revenue

The Managing Director\Chief Executive Officer, Transcorp Hotels Plc, Dupe Olusola, said that the company intends to diversify its services to increase its revenue growth in 2024 and beyond. This follows Transcorp Hotel’s recent divestment of its 100% interest in Transcorp Hotels Calabar Limited to Eco Travels and Tours Limited, an indigenous hospitality company. This was […]

News

Transcorp Hotels divest interest in Calabar subsidiary

Transcorp Hotels plc, the hotel subsidiary of Transnational Corporation plc, announced that it had sold its 100% shareholding in Transcorp Hotels Calabar Limited to Eco Travels and Tours Limited, an indigenous hotel operator. This disclosure was made in a notice, the company filed with the Nigerian Exchange Limited on Thursday. In the statement signed by […]

NGX Group reports N5.2bn after tax
Business

Multiverse, Transcorp top gainers chart as ASI crosses historic 73,000 mark

The NGX extended its bullish run today, gaining 1.28% as the All-Share Index finished at a fresh all-time high of 73,397.71 points. According to The Times, equities gained N508 billion as the market capitalization surpassed N40 trillion for the first time, ending at N40.164 trillion. Multiverse and Transcorp lead the gainers’ chart with 10% gains […]

Transcorp power enlisted on Nigerian Exchange main board
Business

Transcorp to hit 2,000 megawatts Q4 2023 – Report

Transcorp Group’s Group Chief Executive Officer, Owen Omogiafo, disclosed a tenacious pursuit to boost available power capacity to 2,000 megawatts by year’s end. According to Nairametrics, Omogiafo acknowledged the prior transmission and gas issues in an interview with Arise News on 21 August but emphasized the remarkable turnaround seen in Transcorp’s power business in the […]

Transcorp director Helen Iwuchukwu steps down
Business

Transcorp director Helen Iwuchukwu steps down

Transcorp Hotels Plc’s Board of Directors has announced Helen Iwuchukwu’s resignation as Non-Executive Director. According to Nairametrics, this information was provided in a corporate action that was submitted to the Nigerian Exchange and retrieved by Nairametrics. An excerpt from the formal announcement, which was signed by the acting group company secretary, Funmi Olofintuyi, is provided below: The Board […]

Transcorp power enlisted on Nigerian Exchange main board
Business

Transcorp’s revenue hits 31% increase, jumps to N82bn

Transnational Corporation Plc, an indigenous conglomerate, has revealed that it experienced remarkable development across all key indices and that its revenue for the first half of 2023 increased by 31%. In a report on its condensed consolidated financial statements, it said: Transcorp, which has investments in the oil, hospitality, and power industries, reported revenue of […]

Business featured

Elumelu’s firm acquires 70m units of UBA shares

A private equity firm, HH Capital, founded by a Nigerian billionaire and the chairman of the Board of Directors of United Bank for Africa, Tony Elumelu has acquired 70 million units of shares of UBA. According to The Punch, the acquisition was disclosed through a corporate filing made on Wednesday on the Nigerian Exchange Limited. […]

Otedola asks top First Bank official to resign over 'wasteful party'
Business

How Tony Elumelu took my UBA, Transcorp shares – Otedola

Billionaire businessman, Femi Otedola, on Tuesday morning, went down memory lane on his relationship with Tony Elumelu and his plans for Transcorp before he opted out because his bid was rejected.   Otedola noted that he offered to acquire Transcorp Plc for N250 billion and take the company’s market capitalisation to N2 trillion but his […]

Otedola asks top First Bank official to resign over 'wasteful party'
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Otedola buys 5.52% of Transcorp

A 5.52 percent stake in the domestic conglomerate, Transcorp Corporation Plc, has been acquired by Femi Otedola, a millionaire businessman, according to the company’s disclosure. This information came in the wake of rumors that Otedola had purchased a sizeable position in the conglomerate, whose shares have seen intense trading on the Nigerian Exchange Limited since last week, […]