Transcorp Hotels Promises Customers Constistent Dividends

The Managing Director
and Chief Executive Officer of Transcorp Hotels Plc (THP), Mr Valentine Ozigbo, has assured shareholders that the company will stick to its dividend policy, when the shares being offered to the investing public are listed on the Nigerian Stock Exchange (NSE).
Mr Ozigbo, who made this known while presenting the company’s “Fact Behind The Offer”  to investors  abd stockbrokers at the NSE Thursday, noted that the company has consistently rewarded its stakeholders with mouth-watering returns over the years and would continues to do so.
The Initial Public Offering (IPO) by Transcorp Hotels Plc to raise about N8 billion from the investing public opened on Wednesday, September 24, 2014 and is expected to close October 17, 2014.
This followed the completion boarding of the company held in Lagos last week, where the directors of THP and other parties to the IPO signed the pact for the offer.
The board of THP approved that the company issues 800 million shares of 50 kobo at N10 per share via the IPO and the listing of the shares of the company on the NSE after the IPO.
The proceeds of the offer will be used to part-fund its expansion profit especially the construction of two now flagship hotels in Ikoyi, Lagos and Port Harcourt, as part of its broader expansion plans.
THP, formerly known as Transnational Hotels and Services Limited, is the hospitality subsidiary of Transcorp Plc, the company owns and operates the Transcorp Hilton, Abuja and the Transcorp Hotels Calabar with a vision to be the premier hospitability company in Africa.
Mr Ozigbo added that Nigeria’s hospitality industry is experiencing significant growth, with major demand for expanded capacity and enhanced quality services.
It would be recalled that THP is ideally positioned, as the existing owner of the largest number of Hotels rooms in Nigeria and partnered with one of the world’s most prestigious hotel brands, Hilton Worldwide to leverage this demand.