Privatization: 17 PHCN successor companies to list on NSE

TransformationWatch

Bureau of Public Enterprises (BPE) , has  said that the 17 Power Holding Company of Nigeria (PHCN) successor companies will be listed on the floor of the Nigerian Stock Exchange (NSE).

Director General of BPE, Mr. Ezra Dikki disclosed this during a courtesy visit to the NSE and also ring the trade closing bell of the exchange yesterday in Lagos.

Dikki envisaged that in the next few years, as the Nigerian electricity supply sector moves into the hands of private sector owners and matures, the 17 PHCN successor companies will list on the exchange.

According to him, this is because the remaining government shareholdings in the DISCOs that are currently being privatised through core investor sale strategy, will be divested through the exchange.

“The GESCOs will come by differed public offer latter. We also expect many of them to come to the capital market to raise long term finance”, he…

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