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That alone provided 57.2 per cent of its revenue for the period, figures from the corporation’s latest earnings report showed. In a way, the growth rate implies the capacity of the group to stay in the mode of recording a substantial turnover even after its most prominent business, Transcorp Power, was carved out into an independent entity and listed separately on the Nigerian Exchange, where the parent’s shares are also quoted.
Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership. The board of directors at Transcorp wants the group’s issued shares to be much smaller than the current 40.65 billion units and is putting on the table the reconstruction of its outstanding shares to 10.16 billion at the annual general meeting this month.Tony Elumelu, the chair of United Bank for Africa, is Transcorp’s foremost shareholder, holding 30.8 per cent of its ownership, according to its 2023 audited annual report.
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