Dr Awele Elumelu, wife of billionaire investor Tony Elumelu, has recorded a surge in her Transcorp stake value at N13 billion.
The increase in her Transcorp stake’s value can be attributed to a 10% rise in share price linked to growing interest from both local and international investors, based on the company’s recent market moves.
Upon closer examination, Dr. Awele currently commands a controlling 5.1% stake in the company, equivalent to 2,070,794,804 ordinary shares.
More details of the transaction
Additional transaction details reveal that, as per data monitored on the Nigerian Stock Exchange by Nairametrics, Transcorp witnessed a 10% boost in its share price, soaring from N5.8 to N6.38 at the close of the trading day. With this 10% surge, Dr. Awele Elumelu’s holdings are now valued at N13.21 billion.
Turning back the pages, Dr. Awele Elumelu originally procured 2,063,484,991 units of Transnational Corporation Plc (Transcorp) shares at a price of N3.12 per share.
This transaction, valued at approximately N6.4 billion at the time, secured her a significant 5.076% shareholding in the company.