Transcorp Hotels Plc (THP) will finally go public in 2015, as it concludes preparations to list on the Nigerian Stock Exchange today. The move makes it one of the first companies this year to listed on an exchange experiencing its biggest negative growth in the last half-decade.

According to a report by Thisday, the Company had said the shares would be listed on the NSE at the conclusion of the IPO it carried out last year and in fulfilment of its promise to investors. The NSE will on Thursday admit the shares of THP to the exchange’s daily official list.

The Expansion Scheme

Transcorp concluded an N8 billion public offer in September 2014, which it later revealed was oversubscribed. The profits from that offer are being invested into a series of five star, upper market and middle market properties, the first of which will be two new hotels in Lagos and Port Harcourt at a cost of $140 million and $100 million, respectively.

Managing Director of the company, Valentine Ozigbo, had shown enthusiasm by explaining that Nigeria’s hospitality industry is experiencing a period of extensive growth. This in addition to the demand for expanded capacity and improved quality in service delivery. “We have a strong brand and success story in Nigeria as well as good long term relationships with established suppliers in Nigeria,” he said. “These, coupled with our partnership with the Hilton Worldwide for management of our facilities, opens up a large opportunity for our proposed developments in the high density areas of Nigeria to attract a considerable portion of business travel and tourist traffic which should translate to adequate guest patronage.”