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By Chinwendu Obienyi
Tengen Holdings (Mauritius) Limited, a company related to the Group Chief Executive of Access Holdings Plc, Dr. Herbert Wigwe has acquired additional 220 million shares worth N2.4 billion in the company.
This is contained in a notice of share dealing by an insider to the Nigerian Exchange Limited (NGX) obtained by Daily Sun.
The acquisition of 220 million shares represents 0.62 per cent of the company’s total outstanding shares of the company.
With the acquisition, Tengen Holdings has increased its number of shares from 432,577,819 units of shares as of December 31, 2022, to N652,577819 units.
Consequently, Wigwe’s indirect holdings now stand at 1,774,369,017 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.
The notice signed by that Company’s Secretary, Sunday Ekwochi, indicates that Tengen Holdings on May 8th, 2023 purchased 70,000,000 units of Access Holdings Plc at N11.55 per share, valued at N808.5 million.
Also, on 10th May 2023, the company purchased 75,000,000 units of the company’s shares at N10.6 worth N795 million.
Additionally, on a separate deal on the 10th of May 2023, the company also bought 75,000,000 units of shares at N10.06 per share, valued at N795 million. This brings the total value of shares purchased to N2.4 billion.
According to details of the transactions made available by NGX Limited, Wigwe owns the investment as an indirect shareholding through Tengen Holding (Mauritius) Limited.
Access Holdings closed its last trading day (Friday, May 12, 2023) at N9.90 per share on the NGX, recording a 2.9 per cent drop from its previous closing price of N10.20.
The bank began the year with a share price of N8.50 and has since gained 16.5 per cent on that price valuation.
