The Chairman of Zenith Bank, Jim Ovia, has increased his stake in the lender with the acquisition of an additional two million shares at a cost of N66 million.
The bank disclosed this in a statement sent to the Nigeria Exchange Group (NGX) on Friday.
Ovia, according to the statement, acquired shares through his investment company, Quantum Zenith Securities Limited on September 20 to increase his stake in the bank from 16.18 percent to 16.19 percent.
This also increased the total shares he holds in Zenith Bank from 5.081 million to 5.083 million.
Ovia’s current investment in the lender is valued at N159.10 billion.
The investment banker has total direct shares of 3.55 billion and indirect shares of 1.53 billion in Zenith Bank.
He holds indirect shares through Institutional Investors Limited, Lurot Burca Limited, Jovis Nigeria Limited, Veritas Registars Limited, and Quantum Zenith Securities Limited.
Ovia has been increasing his stake in Zenith Bank since 2021 when he held a total of 5.07 billion shares.
At the time, his investment was valued at N121.78 billion.
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.