Transcorp Power Plc also suffered a 10% decline in market value as investors exited their positions ahead of the company’s fourth-quarter earnings release.
On Wednesday, the company’s share price fell from ₦359.90 to ₦324, representing a 9.97% loss. This decline occurred during the trading of approximately 267,000 shares on the NGX. The plunge dragged Transcorp Power’s market capitalisation to ₦2.43 trillion.
Analysis shows the stock is now trading at a 16% discount to its 52-week high of ₦386.40, reflecting negative investor sentiment towards power-generation equities.
Transcorp Power Plc recently declared a “closed period” starting January 1, prohibiting insiders and connected persons from trading the company’s securities until 24 hours after the release of its Q4 2024 unaudited financial statement and full-year audited report.
