Herbert Wigwe, Femi Otedola’s brother acquire shares

2 Min Read

The stock market has been buzzing with patronage from high-end investors in the past weeks, and recently, Herbert Wigwe and Paul Otedola made a visit to the bourse.

According to a corporate document obtained by Ripples Nigeria on Thursday, Wigwe, the Group Managing Director of Access Holdings, acquired 140,000 shares in the financial institution.

Wigwe bought the shares with N1.61 million on May 8, through his investment company, Tengen Holdings (Mauritius) Limited.

Last week, Wigwe acquired 75 million shares worth N843.75 million. He now has over 3.73 billion shares, worth N39.53 billion.

READ ALSO:Herbert Wigwe, Access Holdings secretary, Ekwochi, buy company’s N852.17m shares

On the same day, Paul Otedola, the brother to the majority investor in Geregu Power Plc, Femi Otedola, also acquired 300,000 shares in Geregu.

Otedola paid N86.67 million to acquire the shares in the power plant firm, which is bidding to acquire another plant. In February, he bought 3.7 million shares worth N789.76 million.

Interestingly, the same day he bought his shares, Femi Otedola sold 2.82 million shares through his investment firm, Amperion Power Distribution Limited (indirectly), to take out N820.67 million from his N694.45 billion investment in Geregu.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *