Tranex Lists Additional 270m Ordinary Shares at 80k per Share

By Modupe Gbadeyanka

One of the leading logistics companies in Nigeria, Trans-Nationwide Express Plc (Tranex), has listed additional 270,027,370 ordinary shares on the trading platform of the Nigerian Stock Exchange (NSE).

This exercise was done on Friday, November 17, 2017 by the management of the stock exchange.

Business Post reports that the additional listing arose from Tranex’s Rights Issue of 270,027,370 ordinary shares of 50 kobo at N0.80 per share in the Ratio of 3:2 ordinary shares held as at January 25, 2017.

With this listing of 270,027,370 ordinary shares, the total issued and fully paid up shares of Tranex Plc has now increased from 198,819,762 to 468,847,132 ordinary shares.

Tranex is engaged in domestic and international express delivery, haulage, freight and other ancillary transportation and storage services.

The firm is a wholly owned Nigerian company which was established in 1984 as TNT Skypak Nigeria Limited, but changed its name in 1992 to Tranex.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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