Shareholders of Geregu Power have lost –14.9 per cent of their investment in the last two trading sessions in the Nigerian stock exchange amid talks with a potential substantial investor, Africa Export and Import Bank (Afreximbank).
Ripples Nigeria had reported that Africa Export and Import Bank, through its impact development arm, Fund for Export Development in Africa (FEDA) is holding negotiations with Geregu to acquire a stake in the electricity company.
The value of the stake wasn’t disclosed in a statement by Geregu and talks are yet to hit the advanced stage, but Ripples Nigeria had reported in its Stock To Watch list that the discussion could impact shareholders’ investment amid negotiation and the outcome can also influence the firm’s share movement.
