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substantial shareholder of UAC Nigeria Plc, Blakeney LLP, has sold about 10 million units of the company’s stocks at the exchange.
The sale of the conglomerate shares by the institutional investor was carried at two different trading sessions last month.
According to the notification of share dealing by insiders released by UAC Nigeria to the Nigerian Stock Exchange (NSE) dated Tuesday, May 5, 2020, the sales of the equities were executed on Friday, April 24, 2020 and Tuesday, April 28, 2020.
During the first offloading of the stocks, Blakeney sold 6 million units at a unit price of N6.20, while for the second tranche, it sold 4 million units at about N6.21 each.
From the transactions, Business Post reports that Blakeney cashed out about N62.0 million and the reason for the sales was not known as at the time of filing this report.
On November 15, 2017, UAC Nigeria started a rights issue of N15.36 billion by offering 960.43 million ordinary shares of 50 kobo each at N16 per share to pre-qualified shareholders. The new shares were pre-allotted to shareholders on the basis of one new share for every two shares held as at the close of business on Thursday October 19, 2017.
After the exercise, three major shareholders emerged with more than five percent equity stake in the conglomerate.
Stanbic IBTC Nominees had 8 percent equity stake of 225.23 million units, Themis Capital Management also controlled 8 percent equity stake of 232.35 million units, while Blakeney had 6 percent equity stake of 165.79 million units.
substantial shareholder of UAC Nigeria Plc, Blakeney LLP, has sold about 10 million units of the company’s stocks at the exchange.
The sale of the conglomerate shares by the institutional investor was carried at two different trading sessions last month.
According to the notification of share dealing by insiders released by UAC Nigeria to the Nigerian Stock Exchange (NSE) dated Tuesday, May 5, 2020, the sales of the equities were executed on Friday, April 24, 2020 and Tuesday, April 28, 2020.
During the first offloading of the stocks, Blakeney sold 6 million units at a unit price of N6.20, while for the second tranche, it sold 4 million units at about N6.21 each.
From the transactions, Business Post reports that Blakeney cashed out about N62.0 million and the reason for the sales was not known as at the time of filing this report.
On November 15, 2017, UAC Nigeria started a rights issue of N15.36 billion by offering 960.43 million ordinary shares of 50 kobo each at N16 per share to pre-qualified shareholders. The new shares were pre-allotted to shareholders on the basis of one new share for every two shares held as at the close of business on Thursday October 19, 2017.
After the exercise, three major shareholders emerged with more than five percent equity stake in the conglomerate.
Stanbic IBTC Nominees had 8 percent equity stake of 225.23 million units, Themis Capital Management also controlled 8 percent equity stake of 232.35 million units, while Blakeney had 6 percent equity stake of 165.79 million units.