THE WILL
Transnational Corporation (Transcorp) Plc, has confirmed that Femi Otedola acquired a majority stake in the diversified investment company.
Transcorp made the revelation in a corporate document filed with the Nigerian Exchange Limited (NGX) on Thursday, 20 April, 2023.
Transcorp said Otedola, who is also the majority investor in Geregu Power, acquired 2.24 billion shares, which gives him a 5.52 per cent stake in Transcorp
The worth of the 2.24 billion shares was estimated at N5 billion when the shares are pegged to the company’s equity price of N2.23 kobo per share recorded on Wednesday, April 19.
With the acquisition, Otedola holds more shares than Tony Elumelu, the current chairman of Transcorp Plc, whose stake in the company is 2.06 per…
