The Group Managing Director of UAC of Nigeria Plc (UACN), Folasope Babasola Aiyesimoju, invested N231.750 million in UACN Shares.
The management disclosed in a statement signed by Nkemdirim Agboti, Company Secretary, UACN.
Aiyesimoju bought 22,500,000 UACN shares at N10.30 a unit on May 11 2021 in Lagos, Nigeria (the Nigerian Exchange Limited trading floor).
Aiyesimoju became UACN Group Managing Director and Chief Executive Officer on April 1 2019 following Mrs Omolara Elmide exit.
Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity. Over the course of his career, Fola has lived and worked in Sub-Saharan Africa’s most important economies gaining experience of the operating landscape in the region. He holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real estate development and finance, and earned the right to use the CFA designation in 2006.
He is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.
Aiyesimoju first joined the Board of UAC of Nigeria PLC in March 2018 and is a member of the Governance and Remuneration Committee of the Board. He was also appointed Managing Director/CEO of UACN Property Development PLC (“UPDC PLC”) in August, 2018 and, in his capacity as Group MD/CEO of UAC, will serve concurrently as Managing Director/CEO of UPDC PLC until anew Managing Director/CEO is appointed for the subsidiary company.
Price of Shares of Nigerian Exchange Group Near N20 a Unit
The recently listed Nigerian Exchange Group (NGXGROUP) extended gains to N19.5 per share as more investors keyed into the prospect of the newly created company following the demutualisation of the Nigerian Stock Exchange to reposition the organisation for better growth and opportunities.
The Group listed 1,964,115,918 ordinary shares on the Nigerian Exchange Limited on Friday, 15 October 2021 at N16.15 per share.
On the same day, investors traded 3,562,076.00 shares of the company, pushing the price to N17.75 a share by the close of business.
The price of the stock continues to rise on Monday, hitting N19.5 per as more investors jumped on it. Investors traded 19,000,933 units on Monday.
Nigerian Exchange Group has now gained 20.74 percent in value since being listed on the Nigerian Exchange Limited on Friday.
“The most significant benefit of our listing on the NGX exchange is the ability it gives us to drive inorganic growth as we add new subsidiaries and business lines that complement our business. This new era is indeed very exciting for us and we look forward to many possibilities achievable from deepening our various partnerships,” stated Mr. Oscar Onyema, the Chief Executive of NGX Group.
Nigerian Stock Market Opens Lower on Wednesday
The Nigerian Exchange Limited (NGX) opened lower on Wednesday after shedding N153 billion on Monday.
The market value of all the listed equities hover around N21.455 trillion in the early hours of Wednesday, a N17 billion decline when compared to the N21.473 trillion the Exchange closed on Monday.
The NGX All-Share Index dipped to 41,112.99 index points on Wednesday from 41,144.67 index points it closed on Monday.
|NGXGROUP||N 17.75||N 19.50||1.75||9.86 %|
|IKEJAHOTEL||N 1.05||N 1.15||0.10||9.52 %|
|CUSTODIAN||N 7.30||N 7.85||0.55||7.53 %|
|HONYFLOUR||N 3.55||N 3.78||0.23||6.48 %|
|CHAMS||N 0.22||N 0.23||0.01||4.55 %|
Top Losers on Monday
|MAYBAKER||N 4.74||N 4.36||-0.38||-8.02 %|
|ROYALEX||N 0.64||N 0.59||-0.05||-7.81 %|
|NPFMCRFBK||N 1.85||N 1.71||-0.14||-7.57 %|
|FBNH||N 12.70||N 11.75||-0.95||-7.48 %|
|MBENEFIT||N 0.30||N 0.28||-0.02||-6.67 %|
Top Trades on Monday
Nigerian Exchange Group Lists N1.964 Ordinary Shares at N16.15 Per Share on NGX
Nigerian Exchange Group on Friday listed 1,964,115,918 ordinary shares on the Nigerian Exchange Limited’s Main Board following the demutualisation of the Nigerian Stock Exchange.
The listing was after the Nigerian Exchange Limited approved the application of the group to list its entire issued and fully paid 1,964,115,918 ordinary shares of 50 Kobo each at N16.15 per share.
The Group trading symbol NGXGROUP.
Speaking on the listing, Mr. Oscar Onyema, the Chief Executive of NGX Group, said the listing had opened up new opportunities for the company.
He said, “The demutualisation of the Nigerian Stock Exchange created the opportunity to restructure and reposition the organisation to achieve our expanded vision to be the preferred and premier exchange hub for Nigerian businesses and the wider African economy.
“The most significant benefit of our listing on the NGX exchange is the ability it gives us to drive inorganic growth as we add new subsidiaries and business lines that complement our business. This new era is indeed very exciting for us and we look forward to many possibilities achievable from deepening our various partnerships.”
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