Dr. Awele Elumelu, the wife of billionaire investor Tony Elumelu, has witnessed an increase in the value of her stake in Transcorp, amounting to N13.21 billion.
This surge in her Transcorp value stake has been directly linked to a notable 10% rise in Transcorp’s share price.
She currently commands a controlling 5.1% stake in the company, equivalent to 2,070,794,804 ordinary shares.
According to the Nigerian Stock Exchange, Transcorp witnessed a 10% boost in its share price, soaring from N5.8 to N6.38 at the close of the trading da
Dr. Awele Elumelu originally acquired 2,063,484,991 units of Transcorp shares at N3.12 per share, a transaction valued at approximately N6.4 billion at that time. This move secured her a 5.076% shareholding in the company.
The disclosure adhered to NGX Issuers Rules regarding insider-related trades and was publicly accessible on the NGX website.
Subsequently, she bolstered her stake with an additional acquisition of 7.3 million shares, elevating her ownership to 5.1%.
Building upon her initial investment, she expanded her stake by purchasing an additional 7.3 million shares, elevating her ownership to 5.1%.
However, in the preceding month, her stake experienced a downturn when Transcorp shares dipped, causing a reduction in valuation by N2.05 billion due to a more than 21% decline in stock value.
In the same vein, through his investment firm, HH Capital, Tony Elumelu commands ownership of 11,990,957,350 ordinary shares in Transcorp, representing a 29.5-percent stake in the company.
Over the past 27 days, the market value of Elumelu’s stake in the conglomerate has surged by N34.53 billion ($44.67 million), increasing from N41.97 billion ($54.28 million) on Aug. 1 to N76.5 billion ($98.95 million).
Tony Elumelu is the Chairman of Heirs Holdings, United Bank for Africa, and founder of the Tony Elumelu Foundation.
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