Transcorp Hotels Joins Trillion Naira Market Cap Club

As the monster rally that started in June 2023 spilled into this year, Transcorp Hotels Plc has joined the N1 trillion market capitalisation club.

The company’s share price has a year to date (YTD) return of 42.97 percent and a market cap of N1.02 trillion as of January 15, outperforming the NGXASI index YTD gains of 13.20 percent, becoming the first hospitality firm to have achieved such a rare feat.

This means Transcorp Hotels joins the trillionaire club- the list of the most capitalised firm in Nigeria- that comprise of Dangote Cement, BUA Foods, BUA Cement, United Bank for Africa (UBA), FBHN Plc, MTNN, Airtel Africa, Zenith Bank and Guaranty Trust Holding Company (GTCO).

Aside from the new reforms of president Bola Tinubu that triggered a rally in stocks which had been tepid due to lack of transformation policy by the former president Muhammadu Buhari, Transcorp Hotels consistent earnings growth and healthy balance sheet have allured investors.

The two companies (UBA and Transcorp Hotels) which are owned by Billionaire investor Tony Elumelu make the trillionaire club lists.

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