Socfinaf S.A, the major shareholder of The Okomu Oil Palm Company Plc acquired an additional 2.011 million shares of the company at an average price of N78.72 per share to increase its stake to 63.20%. This information was contained in a corporate release by the company notifying the Nigerian Stock Exchange and the Investing public about share dealing by the insider.

Socfinaf S.A, who prior to this share purchase owned 600.867 million shares of the palm oil producer, representing 62.69%, is the only shareholder with...


Read full article at https://investogist.com/socfinaf-s-a-of-luxemburg-now-own-63-20-of-okomu-oil-palm-plc/

Huh?

How is a foreign entity allowed to own more than 49% shares?

daddytime:
Huh?

How is a foreign entity allowed to own more than 49% shares?

no answer op. He dey find traffic for him blogsite

daddytime:
Huh?

How is a foreign entity allowed to own more than 49% shares?

Foreign individuals or entities can own up to 100% shares of a company in Nigerian. But the 49% vs 51% ownership rule applies only if the said company is bidding for oil and gas project in Nigeria or other specifications.

Sorry for the late response, we have been having issues responding to comments.

Mide3367:
no answer op. He dey find traffic for him blogsite

The information posted is accurate information and his question has been responded to. The delay in response was due to glitches we had in responding to comments in the past few days.
Kind regards.

Investogist:


Foreign individuals or entities can own up to 100% shares of a company in Nigerian. But the 49% vs 51% ownership rule applies only if the said company is bidding for oil and gas project in Nigeria or other specifications.

Sorry for the late response, we have been having issues responding to comments.

Oh! Thanks, for the clarifications.