Rich businessman Otedola bought 5.52% of Transcorp

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The PUNCH newspaper said that a company owned by Indigenous people, called Transcorp Corporation, has said something new.

The text says that a very rich man named Femi Otedola has bought a lot of shares in a group. He now owns about 5.52% of the group.

This news is about Otedola buying a lot of shares in a group of companies. The shares have been very busy on the Nigerian stock exchange, with lots of people buying and selling them.

Transcorp told NGX that it is happy with the investment. The message was sent by the Company Secretary, Funmi Olofintuyi.

We are happy that you trust our leaders and managers. We will keep making sure our stakeholders get the best results possible and we believe in Africapitalism.

Don’t worry, we’re determined to keep investing in important parts of Nigeria’s economy, working towards our goals, and helping make things better for everyone.

Transcorp’s 2022 report showed that at the end of the year, only UBA Nominees Limited-Trading owned more than five percent of the company’s shares worth 50 Kobo.

Tony Elumelu is the boss of the group. He has a lot of shares. He has 273,104,04 shares that he owns himself. He also has more shares that are owned by two companies he is connected to – HH Capital Limited and Heirs Holdings Limited.

UBA Nominees Limited is a company with directors including Mr Emmanuel Nnorom, and it is controlled by a bigger company called UBA Group. The chairman of UBA Group is Elumelu.

The Transcorp company has put money into making electricity, hotels, and digging for oil and gas. Otedola owns most of the Geregu Power generation company.

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On Thursday, Transcorp shares went up in value by 9.87% from Wednesday’s closing price. They closed at N2.45.

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