Elumelu’s HH Capital Acquires 70m Units of UBA Shares
Nigerian billionaire, Tony Elumelu has through bis HH Capital firm, purchased 70 million units of shares of United Bank for Africa (UBA).
Elumelu is the current chairman of the Board of Directors of UBA.
The latest acquisitions was disclosed in a corporate filing on the Nigerian Exchange Limited on Wednesday.
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Details of the deal reveal that HH Capital Limited acquired 70,000,000 shares of UBA at N8 per unit in a deal worth N560m.
READ ALSO: Transcorp: Femi Otedola Accuses Tony Elumelu of Betrayal
According to UBA’s 2022 audited financial statements, Elumelu directly holds 194,669,555 units of UBA shares and 2,185,934,184 indirectly through HH Capital Limited (140,843,816), Heirs Holdings Limited (1,814,003,900 ) and Heirs Alliance Limited (231,086,468 units).
The latest acquisition by Elumelu has further increased his shareholding in the bank.
Meanwhile, Elumelu recently made headlines for the wrong reasons after billionaire businessman, Femi Otedola, accused him of backstabbing and taking advantage of him in deals dating back to 2008.
The allegations came to limelight after Elumelu rejected Otedola’s offer to purchase Transnational Corporation Plc, an indigenous conglomerate chaired by Elumelu for N250bn.
Otedola sells 2.8 millions shares of Geregu Power Plc
Daily Report Nigeria reported that Femi Otedola sold off about 2.8 million shares of Geregu Power Plc, where he holds thale highest shareholding.
Details of the deal on the floor of the Nigerian Exchange revealed that Otedola Otedola sold a first tranche of 1,875,000 units N288.9 per share and another 948,092 units at N290.7 per share with both deals totaling N817.297m.
