Renowned Nigerian billionaire, Femi Otedola, recently divests shares from Geregu Plc, a company he holds a majority stake in. The transaction details, disclosed on the NGX, indicate that Otedola sold 1,875,000 shares at N288.9 and 948,092 shares at N290.7, totaling 2,823,092 shares valued at N820.6 million. This represents approximately 0.1% of the company's total outstanding shares. In a related development, Geregu Power Plant announced that Paul Olurotimi Otedola, the brother of Femi Otedola and an esteemed investor, acquired 300,000 shares at N288.9 per share.
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THE INVESTMENT
On the 8th of May 2023, Mr. Otedola made a significant investment by purchasing 1,875,000 units of shares from the company at a price of N288.9 per share, amounting to a total of N541.688 million. Furthermore, on the 9th of May 2023, Olurotimi Otedola acquired an additional 948,092 shares at a rate of N290.7 per share, valued at N275.610 million. Overall, the total value of the shares purchased by Mr. Otedola amounted to N903.967 million.Read More:
Femi Otedola Divests Shares from Geregu Plc as Geregu Power Sees Significant Growth
Renowned Nigerian billionaire, Femi Otedola, recently divests shares from Geregu Plc, a company he holds a majority stake in. The transaction details, disclosed on the NGX, indicate that Otedola sold ...
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