Otedola sells 2.8 million units of Geregu shares

Celebrity Gig



Otedola sells 2.8 million units of Geregu shares

The majority shareholder of Geregu Power Plc, Femi Otedola, has sold over 2.8 million units of his shares in the power generation company, The PUNCH has learnt.

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.

READ ALSO:  Rising cyberattacks threatening digital economy – Minister

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.

READ ALSO:  Lenovo unveils its new range of ThinkPad L business laptops — promises easier user upgrades and repairs, but only for select models

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.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

READ ALSO:  Rita Daniels shares hilarious moment Odumeje visited her, Regina Daniels and Laila Charani (VIDEO)

Contact: [email protected]

Categories

Share This Article
Leave a comment