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June 25, 2024

Otedola’s Power Company don become first (GenCo) to show-face for Nigerian stock market

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Yesterday Otedola Geregu Power Company don lead other power generating Company GenCo to enter Nigerian stock exchange Market.

Total share wey NGX listed nah 2.5 billion ordinary shares of Geregu for N100 per share, under the utilities sector and electric power generation sub-sector of NGX.

Geregu Power, wey dey generates 10 per cent of power to the national grid, don carry first to show face for the NGX’s main board, sit down well for section of company wey get don demonstrate say dem dey kampe with better track record.

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The listing of Geregu’s shares don add N250 billion to the market capitalization of NGX, this one   don boost liquidity in the capital market and as a matter of fact this don open door for wealth creation opportunity.

For the first day wey the Company trade on NGX market, it share price jump up by 10percnet to close market for N110 from N100 when the trade bin start

Full tori sitdown full ground inside thenationonline…click here to read READ MORE

 

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