Tony Elumelu’s Transcorp Hotels Plc (NGX: TRANSCOHOT) has joined the club of companies over ₦1 Trillion valuation on the Nigeria Exchange.
The share price of the hotel gained 7.24% on Wednesday to close at ₦100.00 pushing its market capitalization to ₦1.02 trillion.
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TRANSCOHOT, the best performing stock in 2023 has seen its share price rise from a 52 week low of ₦6.05 to the high of ₦100.00 recorded on Wednesday.
Transcorp Hotels Plc has 10.242 billion outstanding ordinary shares at at the time of this report.
As at 31 December 2022, Transnational Corporation Plc (NGX: TRANSCORP) owned 76.16% of the shares of the Hotel, while the Ministry of Finance Incorporated and Other Shareholders held 11.04% and 12.80% respectively.
Ministry of Finance Incorporated (MOFI) was incorporated under the provisions of Sections 2 and 3 of the Ministry of Finance Incorporated (MOFI) Act of 1959 as an asset holding company under the Federal Ministry of Finance.
It is mandated to be the sole manager of all federal government investment interests, estates, easement and rights.
United Bank for Africa (NGX: UBA) another company linked to Tony Elumelu had on Monday joined the group of companies listed on the Nigerian Exchange with more than N1 trillion market capitalization. Despite the loses on Wednesday, UBA retained its position in the club, albeit with just ₦1 trillion market cap.
Tony Elumelu joins Abdul Samad Rabiu on the exclusive list of people who has more than one company linked to them listed on the Nigerian Exchange with over ₦1 trillion valuation.
Abdul Rabiu’s BUA Foods (NGX: BUAFOODS) and BUA Cement Plc (NGX: BUACEMENT) are the fourth and fifth most valued companies on the Nigerian Exchange.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
