Transcorp Hotels, Oando rejoin trillion-naira valuation club
Transcorp Hotels and Oando returned to the club of listed companies with a market value of at least N1 trillion on Tuesday, increasing the number of members to 13.
The hospitality subsidiary of Transcorp Group saw its share price jump 9.28 percent a day after it released its third-quarter earnings report, making it the second-biggest gainer at the end of trading on the Nigerian Exchange Limited. Its valuation rose to N1.09 trillion.
The company had reported on Monday a 192 percent jump in its profit before tax for Q3 2024 to N16.44 billion compared to a year earlier.
Oando, an indigenous oil and gas operator, was up 2 percent to close at N81.50 per share, with its market capitalisation increasing to N1.01 trillion. The company recently concluded its acquisition of Nigerian Agip Oil Company.
Other members of the trillion-naira valuation club are Airtel Africa, Dangote Cement, BUA Foods, MTN Nigeria, BUA Foods, Seplat Energy, Geregu Power, Aradel Holdings, Transcorp Power, GTCO and Zenith Bank.
