Billionaire investor Femi Otedola, CON has partially divested his holdings in Geregu Power Plc, following the sale of 1.16 million ordinary shares valued at approximately ₦1.19 billion, executed through his investment vehicle, Amperion Power Distribution Company Limited.
The transaction, which took place on September 29, 2025, was carried out as a cross-deal stock sale on the floor of the Nigerian Exchange Limited (NGX) at a price of ₦1,027.40 per share.
The development was disclosed in a regulatory filing signed by the company’s Chief Executive Officer, Akin Akinfemiwa, on October 14, 2025, in compliance with the NGX post-listing and insider-dealing disclosure requirements.
Details of the Transaction
| Insider |
Amperion Power Distribution Company Limited |
| Position/Status |
Majority Shareholder |
| Nature of Transaction |
Cross Deal (Stock Sale) |
| Volume |
1,160,000 shares |
| Price per Share |
₦1,027.40 |
| Total Value |
₦1,191,784,000 |
| Date of Transaction |
September 29, 2025 |
| Place of Transaction |
Lagos |
The disclosure confirms that the transaction represents a sale (divestment) rather than a fresh acquisition. While it marginally trims Otedola’s overall stake, the billionaire remains the dominant shareholder in Geregu Power Plc.
Updated Shareholding Structure – Q3 2025
According to the company’s Quarter Three 2025 Financial Report, Geregu Power Plc maintained an issued share capital of 2.5 billion ordinary shares, unchanged from the prior year.
| Description |
30 Sept 2025 (Units) |
% |
30 Sept 2024 (Units) |
% |
| Issued Share Capital |
2,500,000,000 |
100 % |
2,500,000,000 |
100 % |
Substantial Shareholdings (5 % and Above)
| Shareholder |
Indirect Holdings |
30 Sept 2025 (Units) |
% |
30 Sept 2024 (Units) |
% |
| Mr. Femi Otedola, CON (Olufemi Peter) |
Calvados Global Services Ltd / Amperion Power Distribution Co. Ltd (Indirect) |
1,909,709,273 |
76.39 % |
1,951,369,273 |
78.05 % |
At the end of the reporting period, Geregu Power’s share price stood at ₦1,141.50 on September 30, 2025, slightly lower than ₦1,150.00 recorded a year earlier.
Corporate Perspective
Commenting on the disclosure, Mr. Akin Akinfemiwa, Chief Executive Officer of Geregu Power Plc, reaffirmed the company’s commitment to regulatory transparency and sound corporate governance.
He noted that the transaction was duly executed within market rules and does not affect Geregu Power’s operational or strategic direction.
Summary
-
Transaction Type: Insider Sale (Cross Deal)
-
Investor: Femi Otedola (CON)
-
Shares Sold: 1.16 million
-
Transaction Value: ₦1.19 billion
-
Share Price: ₦1,027.40
-
Date: September 29, 2025
-
Remaining Stake: ≈ 76.4 % of issued capital
-
Filing Date: October 14, 2025
