BPE Plans IPOs for 2 DisCos and 1 GenCo on Stock Exchange

The Bureau of Public Enterprises (BPE) announces plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Stock Exchange through Initial Public Offers (IPOs). This move is part of the government's strategy to attract more investments into the power sector and broaden ownership of critical assets.

The BPE Director-General, Ayodeji Gbeleyi, reveals that the DisCos are currently owned 60% by private investors and 40% by the federal government. The government aims to list part of its ownership share on the market, maintaining confidentiality to avoid unsettling stakeholders.

The listing is expected to increase market participation and enhance the sector's performance.