Group Chief Executive Officer of Access Holdings Plc, Dr. Herbert Wigwe has increased his stakes in the company with the acquisition of additional 150 million shares worth N1.49 billion through Tengen Holdings (Mauritius) Limited.
In a notice of share dealing by an insider to the Nigerian Exchange Limited, the latest acquisition represents 0.43 per cent of the company’s total outstanding shares.
The notice signed by Sunday Ekwochi, Company Secretary indicated that Tengen Holdings on May 12th, 2023, purchased 75,000,000 units of Access Holdings Plc at N9.9 per share valued at N742.5 million.
Additionally, on a separate deal on the 12th of May 2023, the company also bought 75,000,000 units of shares at N9.9 per share valued at N742.5 million. This brings the total value of shares purchased to N1.49 billion.
According to details of the transactions made available by NGX Limited, Herbert Wigwe owns the investment as an indirect shareholding through Tengen Holding (Mauritius) Limited.
With the acquisition, Tengen Holdings has increased its number of shares from 432,577,819 units of shares as of December 31, 2022, to N802, 577,819 units.
Consequently, Herbert Wigwe’s indirect holdings now stand at 1,924,369,017 units of shares from 1,554,369,017 as of December 31, 2022, while his direct holdings remained at 201,231,713 units of shares.
Wigwe remained the bank’s single largest shareholder with about 5.98 per cent of its total shareholding structure. With the latest acquisition.
Access Holdings closed its last trading at N10.15 per share on the Nigerian Stock Exchange (NGX), recording a 1.5 per cent gain over its previous closing price of N10.00.
Access began the year with a share price of N8.50 and has since gained 19.4% on the price valuation.