Femi Otedola has again increased his stake in Transnational Corporation (Transcorp) Plc amid a takeover move that was foiled by the company’s Chairman, Tony Elumelu.
In a corporate filing sent to the capital market authority, Nigerian Exchange Limited (NGX) on Thursday, Transcorp informed shareholders that Otedola bought additional 228.38 million shares.
The acquisition followed the initial 2.45 billion shares Transcorp said Otedola bought as of April 19, 2023, which gave him 5.52 per cent stake in the firm.
