Herbert Wigwe, Femi Otedola’s brother acquire shares

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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.

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