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Nairametrics has obtained official transaction knowledge of the sale between Femi Otedola and Elumelu’s HH Capital Ltd.
Nairametrics earlier reported Mr. Otedola had offered all of his stake to Elumelu exiting his complete stakes from the conglomerate. As reported by Nairametrics the transaction was consummated utilizing official market value as of shut of buying and selling on April twenty seventh.
Nevertheless, official knowledge point out a complete of two,413.144,252 shares have been offered as an off-market commerce primarily based on three offers. The official transaction value was N3.12.
United Capital Securities and APT Securities dealt with the transaction for HH Capital Ltd and Femi Otedola respectively.
Based mostly on the promoting value the official worth of the sale is about N7.5 billion. The common value of the inventory when Nairametrics first introduced Otedola had taken a 5.05% stake was N1.4 per share.
This counsel Otedola could have pocketed at the least N4.1 billion in earnings from this deal.
Nevertheless, his earnings could have been extra as his common price of buy could possibly be decrease than the N1.35 talked about.
In the meantime Transcorp additionally introduced a further acquisition of shares for HH Capital Ltd.
In a press launch seen by Nairametrics, the SPV owned by Elumelu acquired further 1,999,784,273 taking their complete shareholding to 11,990,957,350 items, representing 29.5% of the Firm’s complete shares.
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