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Official: Transcorp Hotels Plc IPO Was 52% Subscribed, Obtains SEC Approval for Allotment

Nairametrics by Nairametrics
January 5, 2015
in Uncategorized
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  • Transcorp Hotels Plc has announced that its Initial Public Offering which closed October 17, 2014 was 52.3% subscribed.
  • The company was thus able to raise N4,184,039,000 out of the N8billion on offer. A total of 418,403,980 ordinary shares were therefore allotted to the subscribers for a total of 1,293 applicants.
  • According to the offer breakdown only 3 applicants paid for 350,000,000 shares worth N3.5billion representing about 83.65% of the total offer subscribed.
  • Also 13 applicants purchased 395,178,000 units of the shares representing N3.9billion or 94.4% of the offer.
  • SEC has also cleared the basis of allotment
  • Africa Prudential Registrars is expected to credit the CSCS accounts of successful allottees on or before Tuesday January 20, 2014
  • Share certificates will also be dispatched to those who do not have CSCS accounts on or before January 20, 2014
Tags: Transcorp Hotels
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Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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