Transcorp Hotels Plc, on Thursday, January 28, 2021, had 2,642,124,511 additional ordinary shares worth N10bn listed on the floor of The Nigerian Stock Exchange (NSE), thereby concluding its Rights Issue.
To commemorate this, there was a digital Closing Gong ceremony at the NSE where the Managing Director/Chief Executive of Transcorp Hotels, Mrs. Dupe Olushola, closed the day’s trading session.
Speaking at the event, Chief Executive of the NSE, Oscar Onyema, commended the company for the laudable commitment to sustaining the growth of the brand, with a capital raise that was 99.3% subscribed despite the prevailing macro-economic challenges.
The Exchange, he assured, remains “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.”
Also speaking at the event, Mrs. Olusola expressed “deep appreciation to the NSE, other regulators, market operators and of course, our shareholders for their support in the successful completion of our N10bn Rights Issue and listing of 2.64bn ordinary shares.
The past year has been a challenging one given the impact of the COVID-19 pandemic on the hospitality sector, she added, assuring that Transcorp Hotels has not only survived but is firmly on the road to recovery.
This, she continued, “is a testament of the efficacy of our initiatives and we thank you for your belief ins us. 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.”
According to a statement, the exchange said it remains an attractive listing destination as current market conditions favour capital-raising activities across various asset classes, noting that the NSE has also achieved all-around increased efficiency in terms of competitive pricing structures, improved turnaround time, and enhanced customer experience
