Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
Transcorp
Nigerian tycoon Tony Elumelu’s Transcorp reports $25.5-million profit in Q1 2024
The impressive performance is attributed to a significant revenue increase of 173 percent to N88.55 billion ($62.9 million) compared to N32.4 billion ($23 million) in Q1 2023.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian tycoon Tony Elumelu’s Transcorp hits $160-million revenue milestone in 2023
Elumelu, through his investment firm HH Capital, holds a commanding 29.5-percent stake in Transcorp, owning 11,990,957,350 ordinary shares.
Tony Elumelu becomes third Nigerian businessman to hold stakes in two trillion-naira companies
This achievement, following in the footsteps of Femi Otedola and Abdul Samad Rabiu, highlights the growing influence of Nigerian business leaders.
Tony Elumelu’s wife, Awele, gains nearly $7 million as Transcorp shares soar
This recent surge in Awele Elumelu’s stake further solidifies her position as one of the top investors on the Nigerian Exchange.
Tony Elumelu’s wealth skyrockets with Transcorp stake closing in on $100 million
Through his investment firm, HH Capital, Elumelu owns a 29.5-percent stake in Transnational Corporation of Nigeria (Transcorp).
Tony Elumelu’s wife, Awele, loses $2.6 million in six days as Transcorp shares slump
With the acquisition of an additional 7.3 million shares in Transcorp in June, Awele Elumelu’s total holdings in the company now stand at an impressive 2,070,794,804 shares.
Tony Elumelu’s wife, Awele, purchases 7.3 million new Transcorp shares
Awele Elumelu’s prominence extends beyond her investments, as she has made significant contributions to the healthcare sector.
Tony Elumelu’s wife, Awele, acquires $14-million stake in Transcorp
Awele Elumelu acquired a 5.076-percent stake in Transcorp, making her one of the largest shareholders in the conglomerate.
Nigerian billionaires Adenuga, Otedola make waves with Transcorp stakes
Adenuga’s minority shareholding in Transcorp is now worth $2.05 million.
Transcorp’s top shareholder title within reach for Femi Otedola
Nigerian billionaire Femi Otedola is the third-richest investor on the Nigerian Exchange.
Femi Otedola snaps up $12-million stake in Transcorp, might eye board seats, control
As he also leads Geregu, one of Africa’s fastest-growing power-generating companies, Otedola’s move is strategic.
Transcorp’s market cap up by $55 million following Femi Otedola’s acquisition
The company’s market capitalization has surged by $42 million since the news of the acquisition broke on April 12.
Tony Elumelu’s Transcorp delivers big returns: Shareholders to receive $4.41-million dividend payout
Elumelu holds a total of 840,632,956 ordinary shares in Transcorp.
Philanthropist and banker Tony Elumelu launches Aura hospitality app on Nigerian market
The launch took place in Abuja on July 8 with national dignitaries in attendance.