Transcorp hotel commemorates N10bn rights issue listing

Transcorp Hotels Plc on Thursday commemorated the listing of its rights issue of 2,642,124,511 additional ordinary shares valued at N10bn.

The listing was commemorated with a digital closing gong ceremony at the Nigerian Stock Exchange.

The Managing Director and Chief Executive Officer of Transcorp Hotels, Dupe Olushola, brought the day’s trading to a close.

Speaking on the occasion, the NSE’s Chief Executive Officer, Oscar Onyema, said, “On behalf of the National Council and Management of the exchange, I congratulate the board and management of Transcorp Hotels Plc for their laudable commitment towards the sustained growth of this reputable brand.

“Transcorp Hotels Plc’s successful capital raise with a rights issue of 2,642,124,511 additional ordinary shares which was 99.3 per cent subscribed despite the prevailing macro-economic challenges is highly commendable.

“At the exchange, we remain committed to providing issuers with a platform that allows them to meet their strategic business objectives and it is our delight to see listed companies take full advantage of the NSE’s products and services to support their growth trajectory.”

Responding, Olusola stated that 2020 was challenging given the impact of the COVID-19 pandemic on the hospitality sector and that Transcorp Hotels did not only survive but that it “is firmly on the road to recovery is a testament of the efficacy of our initiatives.”

“Moving forward, we are optimistic about 2021 and we have begun the year in a strong position. We will continue to deepen our share and expand our market leveraging best in class technology and providing the highest service standard across our locations,” she added.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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