SPECIAL REPORT: Rape survivors demand justice as Kano fails to domesticate important lawsHerbert Wigwe from afar, By Kenneth AmaeshiCounting days, World War III enthusiast, Macron will leave, By Owei LakemfaSPECIAL REPORT: Rape survivors demand justice as Kano fails to domesticate important lawsHerbert Wigwe from afar, By Kenneth AmaeshiCounting days, World War III enthusiast, Macron will leave, By Owei...
Meanwhile, Transcorp which also has hospitality, agribusiness and real estate among its subsidiaries, and which is the parent company under which Transcorp Power operates, is valued way below the power-generation arm at just N580.5 billion. “Let’s say you have three or four different companies making up a group. The overall valuation would be an aggregate of the three, four, five companies that make up the group. If there is a two, three parts of the group that are not doing very well, it would end up affecting the final valuation of the entire group. If it is that there is one company in the group that is doing very well, that may not be so pronounced in the entire valuation of the group.
One big boost to its prospects in recent years was the proposal in 2021 to develop nuclear power plants as alternative power generation for Nigeria, the first of its kind in the electricity-starved nation. Rival Geregu Power, which listed its shares less than two years ago, has returned 145 per cent this year alone, making it the second top-performing stock of the 153 equities quoted on the NGX, a likely motivation for Transcorp to spin off its power-generation division and list it as a separate entity in order to unlock value.pushing into the shade the 2.07 per cent interest held by Tony Elumelu, Transcorp’s top shareholder until that time.
Just as Mr Otedola is the biggest shareholder of Geregu Power and chairman of one of Nigeria’s biggest five banks, Mr Elumelu is the biggest shareholder of power-focused Transcorp and chairman of United Bank for Africa, also one of Nigeria’s biggest Banks.