On October 5th, Geregu Power plc listed 2.5 billion shares at a ₦100 per share, raising the company’s market capitalisation to ₦250 billion. As of the 21st of October, it was the 10th most traded stock in terms of value on the NGX. It was a historical moment because Geregu Power is the first power company to list on the Nigerian stock exchange.
Key takeaways:
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Geregu Power plc became the first power company to list on the Nigerian Stock Exchange on the 5th of October.
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However, it’s not a surprise that a generation company is the first to list, given that gencos are the darlings of the power sector.
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Even though the power sector’s issues affect the generation companies, their financials are much better than the discos.
However, it’s not shocking that the first power company to list on the stock exchange is a generation company, given that the distribution
