Transnational Corporation Plc (NGX: TRANSCORP) says it has not yet received formal notification of any relevant interest in its shares,.
The company stated this in a press release signed by Dr. Owen Omogiafo, President & Group CEO Transcorp Group on Wednesday while responding to media reports that Nigerian billionaire, Femi Otedola has acquired 2.245 billion shares of Transnational Corporation Plc, representing about 5.52 percent of the company.
Transcorp, however said that it “welcomes every new shareholder acquiring shares in the Company.”
“We welcome this expression of confidence in the leadership and management of Transcorp, as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.
“We remain resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, our transformation agenda and our ability to contribute positively towards building prosperity.”
Transnational Corporation Plc is principally engaged in the power, agro-allied, oil & gas and hospitality industry. It controls subsidiaries like Transcorp Hotels, Transcorp Power, and Transcorp Energy.
Its equity price has risen 10 percent today to N1.54 per share on the Nigerian Exchange.
Transcorp grew its revenue to N134.72 billion in 2022 from N111.22 billion in 2021 but its profit after tax dropped to N16.84 billion from N23.83 billion.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
