Transcorp Hotels Plc (THP) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc) - a leading conglomerate of Nigeria. It is the largest luxury hotel operator in the country and has a business alliance with the Hilton hotel, to operate these luxury properties.
Transcorp Hotels Plc (THP) formerly Transnational Hotels and Tourism Services Limited is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc). The company currently owns two hotels: Transcorp Hilton Abuja and Transcorp Hotels Calabar. THP's vision is to be a leading hospitality company in Nigeria and across Africa creating maximum and sustainable value for its stakeholders.
The IPO market, a primary market activity in any capital market system, remains a window for new firms to raise fresh capital while it also serves as a barometer which helps to gauge how healthy the market is, investors’ confidence as well as the mood in the market at any point in time.
The raising of additional capital has been one of the key issues that currently take the centre stage within the banking industry as the CBN circular requesting all banks to increase their Tier 1 capital as continued to compel banks to look at various ways of capital raising to shore up the capital up to the regulatory required level.
United Bank for Africa Plc has notified The Nigerian Stock Exchange that it has commenced the process of raising Tier 1 Capital by way of a Rights Issue. This is further to the Shareholders and Board resolutions authorising the Bank to raise additional capital by various means, including a Rights Issue.
Transcorp Hotels Plc, a subsidiary of Transnational Corporation of Nigeria (TRANSCORP) and a foremost hospitality company based in Nigeria has opened its Initial Public Offering of 800,000,000 Ordinary Shares of 50k each at N10 per share.
I am delighted to inform you that the initial public offer ("IPO" or "the Offer") of 800,000,000 ordinary shares of Transcorp Hotels Plc ("Transcorp Hotels") opened today and the shares are now available to the investing for subscription.