Billionaire investor Femi Otedola has acquired 5.52% of Transcorp shares making him the second largest shareholder of the company.
Nairametrics reported on Tuesday that a trade of about 1.5 billion units of Transcrop shares valued at about N2.1 billion crossed at the close of trading on the 11th of April. Another 115 million units of the stocks crossed on the exchange closing at N1.4 per share.
On further probing, Nairametrics can confirm that the transaction was consummated between an entity owned by Femi Otedola and an unnamed seller. Another source however confirmed the transaction reported on Tuesday was AMCON related.
Reliable sources with knowledge of the transaction inform us that the billionaire now owns about 2.245 billion shares representing 5.52% of the company. According to company records, the only other shareholder with over 5% ownership of the company is UBA Nominees which owns about 9.25% of the company as of December 2022.
