Aduragbemi Omiyale
By Aduragbemi Omiyale
The board and management of Transcorp Hotel Plc have been commended for their “commitment towards the sustained growth of this reputable brand.”
This applause was given by the CEO of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, last week at the listing of the company’s rights issue on the trading platform of the bourse.
Transcorp Hotels listed additional 2,642,124,511 ordinary shares valued at N10 billion on the NSE last Thursday, while the CEO of the firm, Mrs Dupe Olushola, was honoured with the closing gong ceremony.
At the event, Mr Onyema noted that the 99.3 per cent subscription level recorded by the exercise showed the confidence investors have in the organisation despite the prevailing macro-economic challenges.
“I congratulate the board and management of Transcorp Hotel’s plc for their laudable commitment towards the sustained growth of this reputable brand.
“Transcorp Hotels Plc’s successful capital raise with a rights issue of 2,642,124,511 additional ordinary shares which was 99.3 per cent subscribed despite the prevailing macro-economic challenges is highly commendable.
“At the exchange, we remain committed to providing issuers with a platform that allows them to meet their strategic business objectives and it is our delight to see listed companies take full advantage of the NSE’s products and services to support their growth trajectory,” Mr Onyema said.
In her remarks, the MD of Transcorp Hotels thanked the NSE, shareholders and others for the successful completion of the N10 billion rights issue.
“The past year has been a challenging one given the impact of the COVID-19 pandemic on the hospitality sector, and that Transcorp Hotels has not only survived but is firmly on the road to recovery is a testament of the efficacy of our initiatives and we thank you for your belief ins us,” she said.
Mrs Olushola noted that, “Moving forward, we are optimistic about 2021 and we have begun the year in a strong position. We will continue to deepen our share and expand our market leveraging best in class technology and providing the highest service standard across our locations.”
