January 16, (THEWILL) – Transcorp Hotels Plc has joined the league of trillion naira stocks on the Nigerian Exchange (NGX)..
The hospitality subsidiary of Transcorp Group hit a record N1.02 trillion market capitalisation with a share price year-to-date return of 42.97 percent as of January 15, 2024.
The performance exceeds the NGX All –Share Index (ASI) YTD gains of 13.20 percent, as Transcorp Hotels becomes the first hospitality firm to have achieved such a rare feat.
It now joins the league of trillionaire stocks and also elongated the list of the most capitalised firms in Nigeria, which comprises the heavy weights like Dangote Cement, BUA Foods, BUA Cement, United Bank for Africa (UBA), FBHN Plc, MTNN, Airtel Africa, Zenith Bank and Guaranty Trust Holding Company (GTCO)
United Bank for Africa (UBA) and Transcorp Hotels in which billionaire businessman, Tony Elumelu has majority stakes, are both members of the league of trillionaire stocks on the NGX.
THEWILL had reported that Transcorp Hotels Plc emerged the best equity on the Nigerian Exchange (NGX), in terms of return-to-date performance for 2023.
Transcorp Hotels recorded outstanding performance as the hospitality industry leader closed its last trading day (Friday, December 29, 2023) at N70.18 per share on the NGX, recording a 10 percent gain over its previous day’s closing price of N63.80.
Transcorp Hotels began the year (2023) with a share price of N6.25 and gained 1,023 percent on that price valuation, ranking it first on the NGX in terms of year-to-date performance at the close of the year’s business.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
