At a market price of N3.53 per share on Wednesday, the Elumelus’ stake in Transcorp comes to over N51.5 billion.
In the following days, Mr Elumelu bucked up his holding in the firm to 25.9 per cent from 2.1 per cent.
That cost him $65 million, according to Bloomberg, with 11.7 billion shares acquired at different prices beginning on 27 April.Transcorp generates all its revenues within the country, according to its 2022 audited earnings report. It runs three power plants, alone accounting for 2,000 megawatts or over 40 per cent of Nigeria’s total installed power-generating capacity, a strength that has endeared it to the FBN Holdings’ chair.
Last Month, the conglomerate acquired Abuja Electricity Distribution Company from United Bank for Africa , which took over the power distributor more than two years earlier over a $122 million debt. Mr Elumelu holds the biggest stake in UBA, which he also chairs.273.104 million shares held as of 31 December 2022.9.697 billion shares bought @ various prices from 19 to 25 April 2023.273.546 million shares held as of 31 December 2022.2.063 billion shares bought on 2 and 5 May 2023 @ N3.
Four hundred forty-four thousand eight hundred twenty-four shares were bought on 4 May 2022 at various prices for N514,241.
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.
36-year-old Ogundoyin re-elected as Oyo SpeakerAdebo Ogundoyin, a 36-year-old lawmaker representing Ibarapa East State Constituency, has been re-elected as Speaker of the Oyo State House of Assembly on
Read more »
President Tinubu’s maiden Democracy Day broadcast'One was called the National Republican Convention headed by Chief Tom Ikimi and the other he called Social Democratic Party headed by Chief Tony Anenih, both of whom are from Edo State. The two political parties were government funded.'
Read more »
36-year-old Ogundoyin re-elected as Oyo SpeakerAdebo Ogundoyin, a 36-year-old lawmaker representing Ibarapa East State Constituency, has been re-elected as Speaker of the Oyo State House of Assembly on
Read more »
MKO Abiola's family demands presidential entitlements from TinubuThe Secretary of M.K.O. Abiola's family, Ameen Abiola said the family expects President Bola Tinubu to pay the presidential entitlements of the deceased.
Read more »