How to Buy Transcorp Power Shares in Nigeria (TRANSPOWER)

Transcorp Power Plc shares trade on the Nigerian Exchange (NGX) under the ticker TRANSPOWER. They are a different security from Transcorp Plc, which trades as TRANSCORP, so the first job is to select the correct ticker. The purchase itself goes through a SEC-registered stockbroker or a connected investment platform, using a CSCS account and Clearing House Number (CHN) in your own name, and settles on T+1.

What Is Transcorp Power and Is It Listed on the NGX?

Transcorp Power Plc is a power generation company. It operates the Ughelli Power Plant in Delta State, a gas-fired thermal power station, and supplies the electricity it generates to the national grid. It is listed on the NGX in its own right under the symbol TRANSPOWER.

Its revenue comes mainly from capacity charges, which are paid for having the plant available, and energy charges, which are paid for electricity actually delivered. Output depends on a reliable supply of natural gas and on the technical availability of the generating units. Figures for installed capacity and generation are published in the annual report.

Three Transcorp Tickers: Which One Is Which

• TRANSCORP is Transnational Corporation Plc, usually called Transcorp Plc, a conglomerate with interests in power, hospitality and energy.
• TRANSPOWER is Transcorp Power Plc, the power generation company this guide is about.
• TRANSCOHOT is Transcorp Hotels Plc, the hospitality company.

Each of the three is a separate listed company with its own share price, its own published accounts, its own dividends and its own register of members. Owning TRANSCORP shares does not give you any TRANSPOWER shares, and the reverse is also true. The companies belong to the same group, and the annual report of each one sets out the current shareholdings between them.

The tickers begin with the same letters, and on a small phone screen they are easy to mistake for one another. An order executed under the wrong ticker is a valid trade; correcting it means selling and buying again, with charges on both legs. There is a separate guide to buying Transcorp Plc shares for readers who want the conglomerate instead.

What You Need Before You Buy Transcorp Power Shares

• Valid ID, BVN and proof of address
• A verified account with a SEC-registered stockbroker or a connected investment platform
• A CSCS account and CHN in your own name
• A bank account in your own name
• Naira for the shares and the transaction charges

How to Buy Transcorp Power Shares: Step by Step

1. Open an account with your provider and complete verification. Shares Saver works with Crown Capital Limited, an NGX trading licence holder, and shares are registered in the investor's own name in the CSCS.
2. Get your CHN from the broker, or give the broker your existing CHN.
3. Fund the account in naira from a bank account in your own name.
4. Type the full ticker TRANSPOWER. Confirm that the company name reads Transcorp Power Plc, not Transnational Corporation Plc or Transcorp Hotels Plc.
5. Check the live quote and the quantity on offer. Work out how many whole shares your funds will buy once charges are included.
6. Choose a market or limit order and submit it during the NGX session, 9:00 to 16:00 WAT on business days.
7. Read the contract note as soon as it arrives and confirm that the security named on it is TRANSPOWER. After T+1, check the holding under your CHN and lodge an e-dividend mandate with the registrar.

Costs and Fees to Expect

The charges are of the same types as on any NGX purchase: the broker's commission, statutory and market fees due to the SEC, the NGX and the CSCS, and stamp duty where it applies. A platform may add a subscription or service fee. Your provider's fee schedule gives the rates and the contract note gives the amounts.

Anyone who intends to hold both TRANSCORP and TRANSPOWER places two separate orders and pays charges on each. There is no combined order and no conversion from one share into the other.

Transcorp Power Dividends and the Registrar

Transcorp Power's board decides on dividends in the light of the company's own profits, cash collections from the electricity market, maintenance spending and debt obligations. A dividend is not guaranteed. A dividend declared by Transcorp Plc is a different payment to a different set of shareholders and has no bearing on what TRANSPOWER holders receive. Declarations are published on the NGX under each company's own ticker, and payments are made after 10% withholding tax.

Find the registrar for TRANSPOWER on its NGX company page or in its annual report, and send your e-dividend mandate there. If you hold more than one company in the group, do not assume that a mandate lodged for one covers the others: ask each registrar to confirm that a mandate is on file for that specific company.

Things Investors Commonly Research About Transcorp Power

People reading up on a gas-fired generation company tend to look at the topics below. They are listed for information and express no view.

• Gas supply reliability and pipeline security in the Niger Delta
• Available capacity compared with installed capacity, and plans to recover or add units
• Payment performance in the electricity market and the level of receivables
• The terms of the power purchase agreement and any bilateral supply contracts
• Electricity sector regulation and tariff policy
• Borrowings, maintenance spending and the dividend record
• Related-party transactions with other group companies, disclosed in the accounts

Frequently Asked Questions

What is the NGX ticker for Transcorp Power?

The ticker is TRANSPOWER and the listed entity is Transcorp Power Plc.

Is Transcorp Power the same as Transcorp Plc?

They are separate listed companies. Transcorp Plc trades as TRANSCORP and is a conglomerate. Transcorp Power trades as TRANSPOWER and is a power generation company. Each has its own price, accounts, dividends and shareholder register.

I already own Transcorp Plc shares. Do I automatically own Transcorp Power shares too?

A TRANSCORP holding gives you no TRANSPOWER shares. As a shareholder of the conglomerate you have an indirect interest in whatever that company owns, but TRANSPOWER shares appear under your CHN only if you buy them, or receive them in a distribution described in an official announcement.

I bought TRANSCORP by mistake instead of TRANSPOWER. Can the broker swap them?

An executed trade cannot be exchanged for a different security. The route is to sell the shares bought in error and place a fresh order for the one you wanted, which means paying charges on both trades and accepting the prices available at the time. Report the problem to your broker promptly in case the error was theirs.

Does Transcorp Power sell electricity to homes?

Transcorp Power is a generation company. It feeds electricity into the national grid, and distribution companies deliver it to homes and businesses. Being a shareholder has no effect on your own supply or billing.

How do I sell Transcorp Power shares?

Place a sell order for TRANSPOWER through a broker with access to your CSCS account. The sale settles on T+1 and the proceeds, net of charges, are paid to your investment account. Completion depends on buyers being present at your price.