Quantum Zenith Securities & Investments Ltd Divests N59.2 Million from Zenith Bank

Quantum Zenith Securities & Investments Limited, a leading stockbroking company based in Nigeria, has sold part of its stake in Zenith Bank Plc, according to the disclosure filing with the Nigerian Exchange Limited.

The stockbroking firm, a related party to Zenith Bank Plc, relinquished a total of 2,467,012 shares in two different transactions on September 9, 2021.

Quantum Zenith Securities & Investments Ltd sold 663,928 units of Zenith Bank shares at N24.05 a share in the first transaction and immediately, on the same day, sold another 1,803,084 units at N24 per share. Bringing total divested units to 2,467,012 shares at an average price of N24 a unit or N59.2 million.

This was contained in a disclosure statement signed by Michael Osilama Otu, Company Secretary and General Counsel, Zenith Bank Plc. See the details below.