BUSINESS

Otedola Buys 228.3m Shares Of Transcorp

Transnational Corporation Plc on Thursday disclosed that billionaire businessman, Mr. Femi Otedola  has purchased 228,384,959 of its ordinary shares.

Acting company Secretary, Transnational  Corporation, Funmi Olofintuyi in a  statement on the  Nigerian Exchange Limited ((NGX) did not disclose the value of the shares.

Otedola was alleged to have emerged largest single individual shareholder at Transcorp, a publicly traded diversified conglomerate chaired by Tony Elumelu.

The billionaire, according to the report owns about 2.245 billion shares, representing 5.52percent of the company. The disclose now put to rest the leadership of the conglomerate.,

The stock price of Transnational Corporation has appreciated to N3.15 per share as of April 26, 2023.

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