By InvestAdvocate

Lagos (INVESTADVOCATE)- The Shares of Transcorp Hotel Plc (THP) worth 4.2 billion naira will be admitted on the Daily Official List  (DOL) of  the Nigerian Stock Exchange (NSE) on Thursday.

This will make the company the first to list on the Nigerian bourse in 2015; coming on the heels of an Initial Public Offering (IPO) of the hospitality firm which opened September, 2014.

Valentine Ozigbo, managing director/chief executive officer (MD/CEO) of THP had said proceeds of the offer will be used to fund the development of two new Transcorp Hilton hotels, one in Ikoyi, Lagos, and the second in Port Harcourt, with both due for completion in 2017. ‘’We are delighted to be able to offer the Nigerian public the opportunity to participate in our future success. This offer reiterates our commitment to creating sustainable value for all stakeholders,” he said.

THP had initially sought fresh funds of 8.0 billion naira by offering 800,000,000 ordinary shares of 50 kobo each at N10.00 per share; but raised only 4.2 billion naira.

Lead Issuing House to the IPO was UBA Capital Plc; Joint Issuing Houses are LeadCapital Plc and BGL Capital.