The chairman of Geregu Power Plc, Femi Otedola, has sold 2.8 million units of his shares in the power generation company, where he is holding the majority stake.
He offloaded the shares via two transactions executed on different dates.
The first involved 1.9 million shares sold at N288.9 each on 8 May; the second 948,092 shares sold at N290.7 per unit on 9 May, according to a regulatory filing seen by PREMIUM TIMES.
Both deals summed up to N817.3 million.
A separate share dealing document at the Nigerian Exchange on Wednesday showed Paul Olurotimi Otedola, the sibling of the energy tycoon, procured 300,000 units of the company’s shares at N288.9 per unit on 8 May.
His interest in the company now totals 4 million shares, having acquired 3.7 million shares earlier this year at N809.2 million.
