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Nairaland Forum / Nairaland / General / Business / Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp (35039 Views)
Otedola Buys ₦18.9bn Shares To Regain Position As Biggest Shareholder In FBN / Femi Otedola Emerges Chairman Of First Bank / FBN Holdings Confirms Hassan-Odukale As Single-Largest Shareholder (2) (3) (4)
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Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Flathead8: 5:48pm On Apr 18, 2023 |
He is not Yoruba neither. Don't try to mask the truth with sarcasm ZUBY77: 1 Like |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by DeLaRue: 5:48pm On Apr 18, 2023 |
post=122598366: That's incorrect. Otedola is now the largest individual shareholder. He has over 5%, while Elumelu has over 3%. The other 9% that Elumelu 'controls' belongs to all UBA shareholders of which Elumelu is the largest shareholder. That 9% does not belong to Elumelu. As things stand, Otedola will get significant number of positions on the board of directors. He will now have a big say on how the company is run and will have a say on any major decision. This is an unfriendly and aggressive move by Otedola. Yet, it is a fair one. Anybody is free to buy available shares on the stock exchange. Make no mistake about it, Elumelu can't be happy right now, but you can't blame Otedola. This is a strategic move by Otedola. He has fired the first shot. He may even have more shares lined up for purchase already, and even if Elumelu starts buying more, there is no guarantee he will catch or exceed Otedola. Otedola must have seen a big potential in Transcorp and wants to benefit from that potential. It is possible there are some government assets, opportunities or concessions in the power sector which he fears might fall to Transcorp to the detriment of his own Zugeru Power. He will have seen the 'president- elect' visiting Elumelu and wonder...what if. I am beginning to feel Otedola's story is one of the great comebacks in our modern history. The man was down and almost out. Selling Forte oil and acquiring Zugeru power has been transformational for him. His strategic investment in First Bank, and now Transcorp tells me he is one the smartest amongst Nigeria's big billionaires. 11 Likes 4 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Anambra1stSon(m): 5:48pm On Apr 18, 2023 |
emmanuelewumi:Nothing like similar thing, once UBA nominee limited a private company control 9.25% Otedola can't do what he did in First bank in Transcorp Read below 1 Share
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Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Flathead8: 5:49pm On Apr 18, 2023 |
I have never seen Niger deltan claiming Ibo, it's always the other way LaughterLA: 4 Likes |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by 36STATES: 5:50pm On Apr 18, 2023 |
Dividend of 5 kobo per share ![]() |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Anambra1stSon(m): 5:50pm On Apr 18, 2023 |
DeLaRue: Transcorp has clarifies issues on shares and you guys are still giving yourselves headache, he is second largest shareholder after Tony Elumelu |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Nawttiboi007(m): 5:50pm On Apr 18, 2023 |
Im not yoruba either make una juz leave us from una selfishness and bigotry. When Goodluck Ebele Jonathan ruled for six years I know how the eastern claimed he isn't an igbo man , that igbos are being marginalised. From experience know how the igbo discriminate us(my maternal)and call us bastards that we're not original igbo Rahkman: 3 Likes 1 Share |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Flathead8: 5:50pm On Apr 18, 2023 |
According to "Chibuzo Ukalbe", another desperate attach by force author post=122598965: 4 Likes 2 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Rahkman: 5:51pm On Apr 18, 2023 |
Nawttiboi007:I have heard u yoruba man |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Anambra1stSon(m): 5:52pm On Apr 18, 2023 |
Flathead8:Is Ijebu people Yoruba ![]() |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Salewa97: 5:53pm On Apr 18, 2023 |
post=122599241: All this one is story. Where is the proof that Elumelu owns 100% of the UBA nominee? 5 Likes 1 Share |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by emmanuelewumi(m): 5:55pm On Apr 18, 2023 |
post=122599356: Kindly educate yourself on what a nominees company does The shares in a nominee account is owned by many shareholders, unlike Otedola who is a single largest individual shareholder 6 Likes 1 Share
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Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Jack500: 5:58pm On Apr 18, 2023 |
Rahkman: Bring evidence that elemelu is Richer or shut it 3 Likes 1 Share |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Flathead8: 6:03pm On Apr 18, 2023 |
I'm not Yoruba, so I wouldn't know post=122599406: 3 Likes 2 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Anambra1stSon(m): 6:03pm On Apr 18, 2023 |
emmanuelewumi:Stop giving yourself headache Elumelu is the largest shareholder in Transcorp, we know the dirty game Otedola played with the Igbo man shareholder in with Largest shares in AP when Obasanjo was in power, he can't repeat that with Elumelu.
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Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Comelysync: 6:05pm On Apr 18, 2023 |
Basicend:name the oil block he ever owned... 1 Like |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by dontrulee: 6:07pm On Apr 18, 2023 |
chicoMX: Yeah, Elon na beast. Once crossed over 300B$ Guy is just staying low, he lost more than half of his net worth at one point and despite that he's still Second! That guy is out of this world, by the way, how's Bezos doing? 2 Likes |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by efeski(m): 6:08pm On Apr 18, 2023 |
Basicend: You can blaze the trail by inventing or creating the next big thing to create your significant wealth to establish a not so dead brand. Just saying 1 Like |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Labadi69: 6:08pm On Apr 18, 2023 |
chicoMX: How can Otedola enter the list when he’s not a billionaire? ![]() |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by BeanmanX(m): 6:13pm On Apr 18, 2023 |
The rich get richer why the poor stay poorer. |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by renderme: 6:15pm On Apr 18, 2023 |
PulaPower:Please leave these guys in their delusions. Yorubas don’t use money to brag, so allow them keep disparaging Otedola, it won’t reduce his bank account. 3 Likes 1 Share |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by DeLaRue: 6:17pm On Apr 18, 2023 |
post=122599380: Even if he is the 2nd largest shareholder, the die is cast. If Transcorp was Elumelu's domain before, Otedola has ridden in a chariot into that domain and become a co-ruler since neither of them is a majority shareholder. Otedola will get several seats on the board of directors and will now play a major role in how the company is run. Nothing can change that now. Anyway Elumelu didn't have enough shares in Transcorp to claim sole control, so in truth, there was always a risk that another investor will come and outflank him. Unlike Dangote and Otedola who individually control more than 70% of Dangote industries and Zugeru power respectively, Elumelu has between 3 and 10% of Transcorp. So Elumelu was never in absolute control of Transcorp the way Dangote and Mr Otedola control their own companies. 6 Likes 2 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by BanyXchi: 6:17pm On Apr 18, 2023 |
post=122599406:you're just trying to cope. Ijebus are pure Yorubas, but stop trying to o gumbody with the Ikas and Aniomas Omo ibo 6 Likes 2 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by vanitybutiwanti: 6:19pm On Apr 18, 2023 |
post=122599667:What point exactly are you trying to prove? What do you know about finance and holding structure? To you everything is a war between the Igbos and yorubas, the part you highlighted in the article says otedola is the second largest shareholder, you fail to comprehend that as an individual he's the largest shareholder, UBA nominee is a corporate entity hence they are the largest shareholder overall, but individually it's otedola, and again you don't have proof that Tony owns 100% of UBA nominee, you don't even understand the purpose of a nominee in finance, if I was a politician and I wanted to buy shares in a publicly listed, a property or a private company especially in Nigeria, I don't buy shares with my name or companies with my name on the CAC documents, I simply enlists the service of a trustee like UBA nominee, Stanbic nominee, ARM, and any other trustee to buy shares in their names and also instruct the trustees to send proceeds of my investment to selected accounts, considering the fact that I'm politically exposed and if my enemies assumes the mantle of leadership, they'll probably go after me, instead of buying assets with my name, I use trustees as fronts and use myself as the sole beneficiary of the trust. I just schooled you, I hope you learnt something today. 10 Likes 3 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Yoighaman(m): 6:19pm On Apr 18, 2023 |
Omoawoke: LOL.... |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by DeLaRue: 6:21pm On Apr 18, 2023 |
Basicend: A company with N130 billion revenue is dead ![]() Otedola sees something in this company which you clearly dont see. 2 Likes |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Yoighaman(m): 6:22pm On Apr 18, 2023 |
vanitybutiwanti: Nice one. Some of these people need to be schooled. They rush to type first and then think later. 7 Likes 2 Shares |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by DeLaRue: 6:24pm On Apr 18, 2023 |
Primusinterpares: No. That's Mr Elumelu's private company. Transcorp is a separate company. 1 Like |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Ashawoman82: 6:26pm On Apr 18, 2023 |
chicoMX:otedola no reach 1000 bro. |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by Primusinterpares(m): 6:27pm On Apr 18, 2023 |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by stanbright(m): 6:28pm On Apr 18, 2023 |
Aderewah:Are you richer than anyone in your compound? 1 Like |
Re: Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp by gosmoney(m): 6:31pm On Apr 18, 2023 |
Basicend: |
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