Geregu Power Plc listed 2.5 billion ordinary shares at N100 each in October this year, with the value of the stock rising by 10% on the first trading day amid high investor demand. The company is owned by Nigerian billionaire Femi Otedola.
“I have looked forward to seeing the first listed electricity company in Nigeria,” says Eyo Ekpo, CEO at Excredite Consulting Limited, and a former commissioner at Nigerian Electricity Regulatory Commission (NERC).
“I hope there will be many more in the near future because I believe the democratisation of ownership in the sector is vital to its growth,” he says.
Transparency and financing