Transnational Corporation Plc (Transcorp) has notified the Nigerian Exchange and the investing public of the acquisition of 5.52% equity stake in Transcorp by Femi Otedola.
Femi Otedola on April 19, 2023 bought 2.246 billion units of Transcorp which represents 5.52% of total shares of the company.
In a statement available on the website of NGX, Transcorp stated thus:
“In compliance with Chapter 17, Rule 17.13 of the NGX Issuers Rules, Transnational Corporation Plc hereby informs the Nigerian Exchange Limited (NGX) and the investing public of the the recent acquisition of shares in the Company by Femi Otedola.
As noted in our previous communication, the Company welcomes this expression of confidence in its leadership and management as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.
Rest assured of our commitment to 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 for all”.