Transnational Corporation Plc (Transcorp) has said it has not yet received formal notification that billionaire Femi Otedola has acquired a 5.52 per cent.
Qed.ng reported that Otedola recently acquired about 2.245 billion shares (5.52%) of Transcorp in a transaction consummated between an entity owned by the billionaire and the Asset Management Corporation of Nigeria.
President and Group CEO, Transcorp Group, Owen Omogiafo, in a signed statement on Thursday by the Nigerian Exchange Group (NGX), noted that while the company has not yet received formal notification of any relevant interest in its shares, Transcorp welcomes every new shareholder acquiring shares in the Company.
“We welcome this expression of confidence in the leadership and management of Transcorp, as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism. We remain resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, our transformation agenda and our ability to contribute positively towards building prosperity,” she said.
The financial results of the group for the year ended December 31, 2022, showed that total revenue rose by 21%, from N111.2billion in December 2021 to N134.7billion in the period under review. Transcorp’s share price has risen by 23.9% year to date.
Transcorp is currently controlled by another billionaire, Tony Elumelu, who took over control of the company in 2012.
Elumelu, who chairs Transcorps, holds 273.1 million shares directly in the company, 274 million indirectly through Heirs Holdings Limited and 294 million shares indirectly through HH Capital Limited.
According to reports, while about 1,695 investors own about 89% of the company’s shares, only UBA Nominees own about 9.25% of the company as of December 2022. It was gathered that no other shareholder holds above 5%.
