Unusual Transaction: Anonymous Person or Group Transacts 755.008 Million Shares of UPDC Real Estate Investment on Tuesday

UPDC Real Estate Investment Trust (UPDCREIT) led the most traded equities’ chart on Tuesday as 755,007,570 shares valued at N4,152,541,635.00 were traded in an unusual transaction.

UPCREIT has 2,668,269,500 outstanding shares worth N14,675,482,250.00. However, an anonymous investor or investors traded 755.008 million shares at an average price of N5.5 per share during the trading hours of the day.

To further highlighted the unusual nature of the transaction, on Monday January 11, 2021, the total shares of UPDCREIT traded was 15,179 while 68,878 and 200 shares were traded on Friday, January 8, 2021 and Thursday, January 7, 2021, respectively.

On January 6th, a total of 17,841 shares estimated at N98,125.5. On January 5th and 4th 6,713,598 and 3,960 shares valued at N36,924,789 and N21,780 were traded respectively.

UPDC Real Estate Investment Trust with about 75 percent investment in real estate may have a new substantial shareholder that just completed an insider dealing yet to be announced through the Nigerian Stock Exchange but with the necessary approvals.

Nigerian Stock investors traded total shares of 1.166 billion valued at N7.969 billion during the trading hours of Tuesday.

The market value of listed stocks rose by 0.36 percent to N21.069 trillion, while the NSE All-Share Index rose to 40,295.95.