Newly listed Transcorp Energy shares commenced buying and selling a day after their debut on the NGX board, that includes over 16.9 million shares totally bid with zero presents. That is as of 10.40 am, market opens at 10.30 am.
Nevertheless, as we approached mid-day buying and selling volumes of commerce of about 58 million items had been offered at a share value of N294.4 per share. This formally offers Transcorp Energy a market valuation of N2.2 trillion.
This improvement underscores the demand for the brand new energy firm, which concluded buying and selling on Monday with a ten% improve, bringing its market valuation nearer to N2 trillion.
Checks from Nairametrics point out trades have now picked up with over 58 million shares buying and selling at a share value of N290.4 representing a ten% acquire for the second day operating. Over 12 million shares stay on bid.
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Transcorp has a complete excellent shares of seven.5 billion items.
Full bid skilled
The inventory opened buying and selling with tens of thousands and thousands of bids with no supply perception highlighting the skyrocketing demand for the newly listed inventory.
On the truth behind the itemizing presentation on Monday, firm MD/CEO Peter Ikenga promised extra shares can be accessible for traders to buy on Tuesday.
The best bid value was roughly N294 per share, indicating that the inventory is prone to shut with one other 10% acquire.
Its mum or dad firm, Transcorp Group, additionally skilled important curiosity, recording over 176 million shares totally bid with no presents, as traders acknowledged a possibility in what they perceived as an undervalued firm.
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