WorldStage Newsonline– Transcorp Power, a subsidiary of Transnational Corporation Plc has reported that Rich Point Limited, a significant shareholder of the company sold 1,200,000 shares at N351.30 per share on March 7, 2024 which was three days after the listing of the shares on the Nigerian Exchange.
Transcorp Power on Monday listed 7.5 billion ordinary shares of 50 each at N240 per share on the main board of the NGX.
The sales by Rich Point Limited for N421.2 million translated to N133.2 million or 46.25% profit in three days.
A notice of share dealing by an insider at the NGX signed by Stanley Chikwendu, Company Secretary for Transcorp Power said the sale of shares was to provide liquidity for the Listing by Introduction.
