History will be made on Wednesday (Today) when Geregu Power Plc, a leading power generation company is listed on the Nigerian Exchange Group (NGX)’s Main Board.
The New Diplomat gathered that when the listing is completed, the company will be making history as the first power firm listed on NGX.
According to NGX, 2.5bn shares of the company will be listed by introduction at N100 per share.
Geregu Power Plc is the brainchild of Billionaire Businessman, Mr Femi Otedola, CON.
“The listing of the company was the actualisation of a vision to bring world-class standards in governance, sustainability and business processes to the Company and the Nigerian electricity sector” Otedola stated
He also believes that “listing on the Main Board of the Exchange will ensure that the long-term growth of the company is assured and its benefits will be passed on to the Nigerian investing public.”
Geregu Power was incorporated in 2006 and is one of the unbundled companies from the Power Holding Company of Nigeria.
The simple cycle gas turbine plant located in Kogi State became operational in 2007.
