Transcorp Hotels Plc Nigeria Proposes Initial Public Offering

Transcorp Hotels Plc, a hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc), has filed an application for an Initial Public Offering of 800,000,000 ordinary shares of 50 kobo each at N10.00 per share.

Transcorp Plc holds 88% interest in Transcorp Hotels Plc through Capital Leisure and Hospitality Limited. The remaining 12% is owned by the Federal Government of Nigeria.

The application is currently being processed by The Exchange.Source: Proshare