Primrose Investment Limited Increases Investment in FCMB Group

A leading property development company Primrose Investment Limited has increased its stake in FCMB Group Plc, according to the latest disclosure filing.

Primrose purchased an additional 21,123,071 shares of FCMB Group in seven different transactions between August 4, 2021 and August 27th, 2021.

The lender disclosed in a statement signed by Mrs. Olufunmilayo Adedibu, Company Secretary, FCMB Group Plc.

A breakdown of the report showed Primrose Investment Limited purchased 6,888,555 shares at N3.1692 a piece. While another 534,516 units, 5,100,000 units, 5,000,000 units, 500,000 units, 600,000 units and 2,500,000 units were purchased at N3.0762, N3.0998, N3.1468, N3.0977, N3.0128 and N3.0389 a share, respectively.

On aggregate, the real estate company purchased 21,123,071 shares at an average price of N3.0916 a unit from the Nigerian Exchange Limited trading floor in Lagos, Nigeria.

This is in addition to the shares valued at N70.217 million purchased in the month of June and the 20 million shares of FCMB Group Plc worth N66.6 million that were acquired on December 31, 2020.