The majority shareholder of
Geregu Power Plc, Femi Otedola, has sold over 2.8 million units of his shares
in the power generation company.
According to a corporate filing
on the Nigerian Exchange Limited on Wednesday, Otedola offloaded the shares in
transactions that took place on Monday and Tuesday.
Otedola sold a tranche of
1,875,000 units of Geregu shares at N288.9 and another 948,092 units at the
rate of N290.7 in deals worth N817.297m.
Otedola holds 95.6 per cent of Genco, almost all through his own power distribution company, Amperion.
Meanwhile, his brother, Olurotimi
Paul, increased his stakes in Geregu Power through the acquisition of 300,000
units of shares.
It was gathered that Olurotimi
purchased the shares at the rate of N288.9 per share, bringing the total to
N86.67m.
In February, Olurotimi purchased
3.6m units of shares at N219 per unit and 100,000 shares at N207.9 per unit on
deals worth N809.2 million.
Another Otedola brother, Ayokunle
Michael, also bought four million shares at N219 per unit for N876 million on
February 2.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com