Transcorp Hotels Plc has achieved a significant milestone by entering the trillion naira stocks category on the Nigerian Exchange (NGX). The hospitality arm of Transcorp Group has reached a record market capitalization of N1.02 trillion, showcasing a remarkable year-to-date return of 42.97 percent as of January 15, 2024.
This outstanding performance surpasses the year-to-date gains of the NGX All-Share Index (ASI), which stood at 13.20 percent. Transcorp Hotels has become the first hospitality company to attain such a remarkable feat, placing it among the trillionaire stocks and reinforcing its position among the most capitalized firms in Nigeria.
The league of trillionaire stocks includes heavyweight entities such as Dangote Cement, BUA Foods, BUA Cement, United Bank for Africa (UBA), FBHN Plc, MTNN, Airtel Africa, Zenith Bank, and Guaranty Trust Holding Company (GTCO). Both UBA and Transcorp Hotels, where prominent businessman Tony Elumelu holds majority stakes, now share membership in this exclusive category.
In 2023, Transcorp Hotels Plc emerged as the best-performing equity on the NGX in terms of year-to-date performance. The hospitality industry leader closed the year with a share price of N70.18 per share, marking a 10 percent gain over the previous day’s closing price of N63.80. Starting the year at N6.25 per share, Transcorp Hotels achieved an impressive 1,023 percent gain, securing its position as the leader in year-to-date performance on the NGX.
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