Banking Sector
Primrose Investments Limited Increases Stake in FCMB Group
Primrose Investment Limited, a real estate and property development firm, has invested an additional N70.217 Million in FCMB Group Plc to increase its stake in the leading financial institution.
The lender stated in a disclosure statement released on Wednesday.
Primrose Investment Limited added 22,000,000 shares of FCMB Group Plc to its stake at an average price of N3.1917 a unit.
The transaction was carried out in three different deals in June, 2021.
The company described as a related company (insider dealing), purchased 500,000 shares of FCMB Group Plc at N3.0956 a unit on June 24, 2021.
While another 500,000 and 21,000,000 units were acquired at N3.1 and N3.3796 on 28th and 29th of June 2021, respectively.
This was in addition to the 20 million shares of FCMB Group Plc worth N66.6 million that Primrose purchase on December 31, 2020.
The transaction took place in Lagos, Nigeria.