Femi Otedola takes Transcorp from Elumelu with acquisition of 5.5% stake

CHUKWUEMEKA AYOMIDE • APRIL 13, 2023

Femi Otedola, a billionaire businessman, has become Transnational Corporation (Transcorp) Plc’s largest individual shareholder after purchasing 5.5 per cent of the company’s shares.

This makes him the only individual shareholder with the largest share and Transcorp’s second-largest shareholder behind Tony Elumelu’s United Bank for Africa, which holds a 9.25 per cent stake in the company.

A top stockbroker at the Nigerian Exchange Group (NGX) told Thisday newspaper that the billionaire now owns roughly 2.245 billion (5.52%) of the company’s shares.

According to reports, the deal was brokered by a company owned by Mr Otedola and Asset Management Corporation of Nigeria (AMCON).

Transcorp’s most recent audited filings revealed that as of December 2022, UBA Nominees owned around 9.25 per cent of the business, making it the only other stakeholder with a stake more than 5 per cent.

“As of December 31, 2022, only UBA Nominees Limited-Trading, held 5 per cent or more of the issued and fully paid shares of 50 Kobo of the company,” Transcorp said in its latest financial statement.

The diversified conglomerate’s 273,104,041 issued share capital was owned by Mr Elumelu, chairman of Transcorp Corporation, according to the audited result and accounts for the period ended December 31, 2022.

Additionally, he held 273,545,722 shares through Heirs Holdings Limited and 293,983,193 shares through HH Capital Limited.

Stanley Lawson, a non-executive director of Transcorp Corporation, held 12,634,188 shares of the multinational company while Mrs Owen Omogiafo, the president, held 122,790,102 direct issued shares.

Mr Elumelu presently owns Transcorp and took over management of the business in 2012. Since then, the business has acquired a power generation firm and expanded into the oil and gas industry.

Transcorp controls subsidiaries like Transcorp Hotels, Transcorp Power, and Transcorp Energy. These entities also have businesses under their care.

The latest acquisition adds to Mr Otedola’s recently acquired share in FBN Holdings and Geregu Power Plc.

Freshtruth:
This Otedola is into rituals ist NEPA? A shares in Dangonte petroleum company now this
One thing is for your father to have money second is for you to allow you spend is money. Otedola God bless u sir. As for my Father God bless u too but I wish u were not wealthy maybe my life would have been better

Princeton92:


Share the money reach my side na make I use do business 😃
But I'm sha confused how's your dad's wealth affecting your life not being better? 🤔
Y'all lucky you had a man that was there for y'all to call a father

Freshtruth:
you no go understand bro I started working for d ist time in my life at 30yrs he pain me say I no start to hustle earlier he pain me say I no play football that has always be my passion in my life. Na now I dey experience life bro if there is another life I don't want to have such a man as a father. O wish I was stubborn like Davido I will always respect him some parents are Destiny killers God forbid. If you have a Father who shout a lot my guy I advise u run from him

Trapnews:

Another spoilt brat, congratulations you rediscovered yourself. Money nor be everything. Welcome to the real world, na we be the real nuggets

FreeStuffsNG:
Femi Otedola takes Transcorp from Elumelu with acquisition of 5.5% stake

FreeStuffsNG:

https://gazettengr.com/femi-otedola-takes-transcorp-from-elumelu-with-acquisition-of-5-5-stake/

nedu666:


He owns over 5% but the motive behind it is only know to him. Investors beware

vastolord4:
Friendly competition is always done among the rich but competition among the average/poor people is called witching and backbiting.. even if you don't compete, they'll compete with you.. carefully select your friends cos this our black people are quite funny

Freshtruth:
you no go understand bro I started working for d ist time in my life at 30yrs he pain me say I no start to hustle earlier he pain me say I no play football that has always be my passion in my life. Na now I dey experience life bro if there is another life I don't want to have such a man as a father. O wish I was stubborn like Davido I will always respect him some parents are Destiny killers God forbid. If you have a Father who shout a lot my guy I advise u run from him

post=122503155:

Heir holding own by Elumelu own his shares in trascorp, UBA bank through Elumelu again own 9.25% in Trascorp

Freshtruth:
you no go understand bro I started working for d ist time in my life at 30yrs he pain me say I no start to hustle earlier he pain me say I no play football that has always be my passion in my life. Na now I dey experience life bro if there is another life I don't want to have such a man as a father. O wish I was stubborn like Davido I will always respect him some parents are Destiny killers God forbid. If you have a Father who shout a lot my guy I advise u run from him

FreeStuffsNG:
The diversified conglomerate’s 273,104,041 issued share capital was owned by Mr Elumelu, chairman of Transcorp Corporation, according to the audited result and accounts for the period ended December 31, 2022.


For more than 10 years, TOE could have bought more Transcorp shares.

I am surprised at how little his shares are in a company with almost 40 billion free float where he is the Chairman since 2012. Haba!

Having more shares in your own company is the best proof that you have a skin in the game

Princeton92:


You're actually going through same thing I'm going through but I feel somewhat way yours way better cause you've got what many want maybe, I dunno... Me dey regret for here I'm not where I wanna be and haven't even done quarter of what I'd planned.
Such is life see me na I never marry, I never build house, I still dey struggle with my salary wey no fit move mountain

vastolord4:
Friendly competition is always done among the rich but competition among the average/poor people is called witching and backbiting.. even if you don't compete, they'll compete with you.. carefully select your friends cos this our black people are quite funny

SocialJustice:
Elumelu sits as the Chairman of Heirs holdings from where he controls transcorp group, UBA group and Tenoil.

His strategy is rock solid.

Freshtruth:
I understand bro am not enjoying any shit my Dad has 2 hotels he never want me to work in his hotel with him so I have to look for job 45k per month and I think am better now. My papa hands no clean my mum currently has cancer which is not in her leanage

FreeStuffsNG:
Even Heirs has a paltry amount of shares of around 200m out of over 40 billion. The largest individual shareholder is now Femi

Freshtruth:
I understand bro am not enjoying any shit my Dad has 2 hotels he never want me to work in his hotel with him so I have to look for job 45k per month and I think am better now. My papa hands no clean my mum currently has cancer which is not in her leanage