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