Austinlaz & Company Plc has disclosed a series of insider share sales by its founder, director, and majority shareholder, Asimonye Austin Lazarus Azubuike, according to a share dealing notification filed with the Nigerian Exchange Limited (NGX).
Asimonye, who controls Austinlaz & Company Plc, sold a total of 52,238,727 ordinary shares between December 19, 2025 and January 6, 2026, in transactions executed on the NGX.
The disclosure was filed as an initial notification, in compliance with NGX rules on dealings by directors and insiders.
The shares were disposed of in multiple tranches at prices ranging from ₦2.42 to ₦5.64 per share, with the transactions broken down as follows:
-
1.5 million shares at ₦2.42
-
2.4 million shares at ₦2.65
-
2.0 million shares at ₦2.65
-
2.0 million shares at ₦2.91
-
5.0 million shares at ₦3.52
-
4.53 million shares at ₦3.87
-
9.0 million shares at ₦4.25
-
368,411 shares at ₦4.66
-
6.94 million shares at ₦4.67
-
10.0 million shares at ₦5.13
-
8.5 million shares at ₦5.64
The aggregate volume sold amounted to 52.24 million shares, executed at an average price of ₦4.36 per share, translating to an estimated transaction value of approximately ₦227.76 million.
Majority Ownership and Control Remain Intact
As of September 30, 2025, Austinlaz & Company Plc had an issued share capital of 1,079,860,000 ordinary shares.
Asimonye holds 542 million shares, representing 50.19 percent of the company’s issued share capital, making him the largest shareholder and controlling owner of the company.
Following the disclosed share sales, Asimonye remains firmly in control of Austinlaz & Company Plc, with ownership well above the majority threshold.
Substantial shareholders collectively hold 77.97 percent of the company, while the free float stands at 216.92 million shares, representing 20.09 percent of issued share capital.
The volume sold by the founder represents a significant proportion of the free float, a factor that may have contributed to increased market liquidity during the transaction window, without altering the company’s ownership control structure.
The notification was submitted by Ifeanyi Offor & Associates, the company’s secretary, in line with NGX post-trade disclosure requirements.
Founder-led disposals are closely monitored by market participants, particularly where ownership concentration remains high, as they may reflect liquidity management, portfolio rebalancing, or other personal financial considerations rather than a shift in corporate control.
