The move ramps up Mr Elumelu’s combined stake in the group to 10.5 billion shares or 25.9 per cent.
Tony Elumelu, the chair of Transnational Corporation Plc , has acquired fresh 9.7 billion shares in separate deals in recent days, company documents revealed on Thursday.
Transcorp’s shares numbering 2.4 billion units exchanged hands in the open market in the period, implying most, if not all of Mr Elumelu’s new shares were acquired off the market. “With this new acquisition, HH Capital Limited now holds a total of 9,991,173,177 units, representing 25.58% of the Company’s total shares,” Transcorp said in a statement.
The announcement on Thursday signals the latest twist in the scramble for Transcorp, whose flagship energy business is the latest lure for billionaire investor Femi Otedola.He would later raise his stake to 6.3 per cent, placing him at that point in the second position behind UBA Nominees, which holds 9.3 per cent. UBA Nominees is the custodian business of United Bank for Africa .
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tony Elumelu: Otedola is my brother — I look forward to working with him at Transcorp | TheCableTony Elumelu, group chairman of Transnational Corporation Plc (Transcorp), has commended Femi Otedola, the billionaire businessman, for his recent acquisition of a significant stake in the conglomerate.
Read more »
Young Nigerian entrepreneur to speak at UN eventThe forum will enable young people to share their recommendations and innovative ideas in preparation for the SDG Summit, to be held under the auspices of the General Assembly, in September 2023.
Read more »
Tony Elumelu: Otedola is my brother — I look forward to working with him at Transcorp | TheCableTony Elumelu, group chairman of Transnational Corporation Plc (Transcorp), has commended Femi Otedola, the billionaire businessman, for his recent acquisition of a significant stake in the conglomerate.
Read more »
Transcorp’s quarterly profit down by 63% amid forex scarcityThe corporation incurred N2.4 billion in foreign exchange loss on borrowings
Read more »
Transcorp Group Records Revenue, Gross Earnings Growth In Q1Transnational Corporation Plc, a diversified conglomerate with investments in power, hospitality, and oil & gas, has analyzed the firm’s full year 2022
Read more »
Transcorp’s revenue rises to N135bnA statement on Wednesday said this was disclosed at its 17th Annual General Meeting which held virtually.
Read more »