• Thursday, February 22, 2024
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BusinessDay

Transcorp Hotels to launch N8bn IPO September 24

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Transcorp Hotels, part of the Transcorp conglomerate, plans to start marketing its initial public offering (IPO) from September 24 to raise N8 billion ($48.8 million), marketing documents seen by Reuters show.

Transcorp Hotels plans to offer 800 million ordinary shares to new investors at N10 per share. The sale will last for a week and the shares will be listed on the Nigerian Stock Exchange (NSE) on November 5, the prospectus showed.