Mrs. Awele Vivien Elumelu, the wife of the Board Chairman of United Bank for Africa (UBA) Plc Tony Elumelu, has increased her holdings in the leading financial institution, according to the latest disclosure filing from the bank.
In the disclosure statement signed by Bili A. Odum, Group Company Secretary, UBA Plc, Mrs. Awele Vivien Elumelu acquired additional 412,642 ordinary shares of UBA at N5.99 a unit on April 8th and 9th of 2021 from the Nigerian Exchange Limited in Lagos, Nigeria.
Nneka Elumelu, another relative of the Board Chairman, bought 245,457 shares of the bank at N7.0 per share on the same day.
Onyinyechukwu Elumelu, Tamara-Marie Ogechukwu Elumelu, Tony Onyekachukwu Elumelu, Tiffany Ogochukwu Elumelu, Toby Onyemaechi Elumelu and Ugochukwu Elumelu purchased 243,899 shares; 296,409 shares; 36,529 shares; 296,043 shares; 36,016 shares and 244,966 shares at N7.0 per share; N7.0 per share; N7.0 per share; N7.0 per share; N7.1 per share and N6.9 per share, respectively.
Opeoluwa Ashiru, a staff of the bank, also acquired 94,300 shares at 5.54 per share on April 7th, 2021.
Tony Elumelu and his family continue to strengthen their grip on the leading financial institution as seen in recent months.
The announcement was in line with the Nigerian Securities and Exchange Commission (SEC) policy on insider disclosure.
The commission had mandated all listed companies to disclose all insider dealings to further strengthen transparency across the board.
However, the new policy provides insight into the direction of listed companies and gives clues on the level of confidence directors, staff and relatives of key board members that are likely to have more information regarding the future of the company have in it.
This insight will help the investing public mirror their portfolio in line with the degree of perceived confidence. Investors King will continue to publish all insider dealings for better management and controlled risk exposure.
Bearish Sentiment Persists: Investors Lose N112 Billion on NGX
Nigerian Stock Market Dips as Weak Momentum Drains N39 Billion from Investors
Dr. Yemi Cardoso’s Nomination Boosts Confidence as Stock Investors Gained N264 Billion
The bullish momentum in the Nigerian Exchange Limited continued on Tuesday as investors pocketed N264 billion in profit following Monday’s gains of N263 billion.
Both the market capitalization and the All-Share Index, which gauge the movement of share prices for all listed companies surged by 0.71 percent to N37.413 trillion and 68,359.22 points, respectively.
This optimistic trading trend emerges as investors increasingly show confidence in the local market and the broader economy, fueled in part by the news of Dr. Yemi Cardoso’s nomination as the Governor of the Central Bank of Nigeria.
As Tuesday’s session drew to a close, the volume of shares traded experienced a significant uptick of 31.33 percent to 676.74 million. However, the number of deals declined by 8.35 percent to 7,659 while the total trade value decreased by 33.97 percent to N5.89 billion.
Market sentiments also leaned towards the bullish side, with 36 gainers outpacing the 27 losers.
Among the top-performing stocks that caught the attention of investors were:
- Berger Paints Plc, which surged by 9.95 percent to conclude the trading day at N11.60.
- Oando Plc, which recently released its audited results for 2021, saw a 9.92 percent increase, closing at N13.30.
- BUA Foods, which gained 6.32 percent to close at N196.70.
- PZ’s shares appreciated by 1.45 percent per unit, ending at N20.
- GTCO Plc stock increased in value by 0.43 percent, closing at N35.40.
On the flip side, the top losers included:
- SCOA Plc, witnessing a 10 percent depreciation in its shares, closing at N1.24.
- Unilever’s shares recorded an 8.28 percent drop, concluding at N13.30.
- United Bank for Africa Plc, which lost 1.96 percent in share value, closing at N17.50.
- FBN Holdings Plc, suffering a 1.69 percent decline, closing at N17.40.
- Accesscorp’s shares depreciated by 0.29 percent, closing trading at N17.40.
The Nigerian Exchange continues to display its resilience and attractiveness to investors, making it an exciting space to watch for potential opportunities and market trends.
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