Billionaire investor, Mr. Femi Otedola has finally exited its investment in Transcorp Incorporated Plc over Mr. Tony Elumelu’s HH Capital Limited purchasing more stake in the diversified conglomerate.

The acting Company Secretary, Transcorp, ‘Funmi Olofintuyi in a statement on the Nigerian Exchange Limited (NGX) yesterday disclosed that HH Capital Limited acquired 1,999,784,173, bringing its total stake to 11,990,957,350 units, representing 29.5per cent of the company’s total shares as of April 28, 2023.
She said, “As noted in our previous communication, the Company welcomes the continued expression of confidence in its leadership and management by the investing public, as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.
“Rest assured, we are committed to remaining resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, transforming Africa, and contributing positively towards building prosperity for all.”
HH Capital Limited, a Special Purpose Vehicle (SPV) owned by Elumelu had acquired 9,697,189,984 units of shares, bringing its total holdings in Transcorp Incorporated to 9,991,173,177 units, representing 25.58per cent of the Company’s total shares as of April 25.
Femi Otedola had announced in April that he had acquired 5.05per cent of Transcorp making him the second-largest shareholder of the company. The purchase immediately triggered a rally for the share price of the stock, doubling in under two weeks.
In response to Femi Otedola’s acquisition, Elemelu consolidated his holdings, increasing his ownership stake to about 25per cent which he announced on April 26th, 2023.
A stockbroker in the capital market disclosed to THISDAY that Otedola had reached a deal with Elumelu to exit the conglomerate that is into Power, Oil & Gas, and Hospitality sectors.
With more purchases by HH Capital Limited, Femi Otedola, according to capital market source had sold all of his stake to Elumelu exiting his entire stake from the conglomerate.Market official data indicate a total of 2,413,144,252 shares were sold as an off-market trade based on three deals. The official transaction price was N3.12.

APT Securities Limited and United Capital Securities handled the transaction for HH Capital Ltd and Femi Otedola respectively.

The stock price of added N0.36 Week-on-Week (WoW) to close at N2.81 per share from N2.45 per share it opened for trading.
https://www.thisdaylive.com/index.php/2023/04/29/otedola-bows-out-as-elumelus-stake-in-transcorp-hits-29-5/

Ok

Tony don buy Otedola’s stake in Transcorp back

You will idiots who have not had 3 square meals come and start painting ethnic coloration.

Anyway let the elephants fight with billions. The Richman fight is always interesting.

post=122819053:
Otedola wan flex muscle with Tony Elumelu doesn't know Eastern Billionaires are in low key

Tony don buy Otedola’s stake in Transcorp back

Olodo chinedu. You no do business study for school? Face your gala business in Lagos traffic and leave investment trade for adults.

Do you know what it cost Elumelu to buy the stake back? .. Over N21B ... Mutual friends even had to intervene.

Otedola made over 300% profit in less than 2weeks. The ROI was massive. ..

And Elumelu wasnt stupid either. He had to go for it. The power struggle was creating unnecessary attention in the stock market.

Some people have turn this to ethnicity battle n they no get shishi for account.

lhordspy:


Olodo chinedu. You no do business study for school? Face your gala business in Lagos traffic and leave investment trade for adults.

Do you know what it cost Elumelu to buy the stake back? .. Over N21B ... Mutual friends even had to intervene.

Otedola made over 300% profit in less than 2weeks. The ROI was massive. ..

And Elumelu wasnt stupid either. He had to go for it. The power struggle was creating unnecessary attention in the stock market.

consoling

The two great men. I love them both

Asiwaju's boys flexing muscles

🤣🤣🤣🤣🤣🤣🤣

Don’t dare the igbos in business/investments, the heat is too much for him to handle 😂😂😂😂

Femi is still a child in business, running up and down

Of course they cannot compete in business always looking for Government Monopoly like Dangote

Igbo kwenu

FO just made hundreds of millions in a space of days, clowns are here ridiculing themselves. Seems too many poor dumb people are on this forum. Most here seem like kids, laughing over other people's deals. Mugus everywhere.

JDistribute:
FO just made hundreds of millions in a space of days, clowns are here ridiculing themselves. Seems too many poor dumb people are on this forum. Most here seem like kids, laughing over other people's deals. Mugus everywhere.

That's how your people make millions in few days by selling your father's land to Igbos only to cry later

MXrep:

That's how your people make millions in few days by selling your father's land to Igbos only to cry later

You are one of the fools, billionaires buy and sell portfolios all the time for a profit. FO is still on top 5 richest in Nigeria. Don't be a clown, outgrow foolishness. Do you know how many other portfolios and investments he has...I see no point in acting a fool when someone is making a profit

JDistribute:

You are one of the fools, billionaires buy and sell portfolios all the time for a profit. FO is still on top 5 richest in Nigeria. Don't be a clown, outgrow foolishness. Do you know how many other portfolios and investments he has...I see no point in acting a fool when someone is making a profit

Richest government sponsored billionaire. Igbos will buy up everything with time

MXrep:

Richest government sponsored billionaire. Igbos will buy up everything with time

Plus America and heaven, what a vain man you are. How many are you buying, or you just cheer people on, on the sidelines

Kudos to them


Days I make upto 100k for my business in a day I dey mk sure say I pop good wine for my house.. but these are men making billions in a matter of days..

GodWhen#

MXrep:

That's how your people make millions in few days by selling your father's land to Igbos only to cry later

😂😂😂😂😂😂😂😂

You wicked 🤣, you just knocked out this guy😇

skultrick:


Well you can continue your foolery.

You say igbos are hated everywhere in Nigeria, attitudes like this is what's causing it.

As far as creating wealth is concerned, igbos will continue to excel beyond every expectations.

But going about boasting will only create hate and envy.

Be wise.

Werey, stop deceiving yourself. Since when did celebrating your own an offense

Carry your inferiority complex outta here

Otedola is a very intelligent business. He bought the share at cheap price then create some kind of power tussle, make over 300% gain and gbam sold the share.

Trust me Transcorp share price is coming down like a fallen comet. That's how whales trade in crypto market.

Big up my mentor

A Forbes rated billionaire submitted and surrendered to a non Forbes rated billionaire. Believe Forbes att your own risks

teeytimi:
Otedola is a very intelligent business. He bought the share at cheap price then create some kind of power tussle, make over 300% gain and gbam sold the share.

Trust me Transcorp share price is coming down like a fallen comet. That's how whales trade in crypto market.

Big up my mentor

Pump and dump. That's the game he's playing, he has no interest in running the business.

skultrick:


I'm an igbo man but going by many of the threads you have created, you clearly have very low self esteem.

What do you gain in creating threads like this We igbos make money all over the world but gallivanting and boasting is simply creating unnecessary attention for yourself.

Be a wise man and stop all these nonsense posts, it really pisses me off.

This was how your likes started foolishly reading ethics meanings to Airpeace gesture not knowing that such attitudes can harm the man's business.

I urge every igbo to be truly wise.

Wise people don't go about bragging. You will just be inviting envy, hate and in extreme cases attack.

Again, be wise.

If you don't create threads like these their media propaganda against Igbos will stick and they will continue to gloat. It's good to puncture their empty claims which they have pushed against Igbos over the decades. It's okay to remind them that the "gala seller" just bought over "Forbes billionaire" shares

stonemasonn:
Pump and dump. That's the game he's playing, he has no interest in running the business.

They ruin every business entrusted to them. They only rely on government Monopoly to make easy money

Whiteangel1234:
Of course they cannot compete in business always looking for Government Monopoly like Dangote

Igbo kwenu

Petty traders wagging mouths to compete with Yoruba, the real business people.
Okay,name any Igbo business that has existed for even up to 40,50,60 years.
None..maybe transport that brings you to Yorubaland to come and learn how to do real business

I can name different Yoruba indigenous businesses that had existed for more than 100,90,80,70 years and still counting.Praises to the Most High.

I can name more than 100 Yoruba naira billionaires with their businesses in Nigeria and overseas but you will not be able to name 40 Igbos in their categories.

I can name more than 5 Yoruba dollar and pound sterling billionaires in Europe with existing businesses but you wont be able to get 1 or 2 Igbos.
Igbos are just petty traders but they are trying sha.They just like to measure everything with Yoruba,their seniors and benefactors

lhordspy:


Olodo chinedu. You no do business study for school? Face your gala business in Lagos traffic and leave investment trade for adults.

Do you know what it cost Elumelu to buy the stake back? .. Over N21B ... Mutual friends even had to intervene.

Otedola made over 300% profit in less than 2weeks. The ROI was massive. ..

And Elumelu wasnt stupid either. He had to go for it. The power struggle was creating unnecessary attention in the stock market.

21 bn or 210 bn
300% ROI or what not
The Igbo man got it done
You think Elumelu will be docile enough to allow Otedola to steal Transcorp from him? This is not First Bank.
The battle has just begun
Elumelu will show him
Racks for racks, 50 for 50

Putinofrussia:

Petty traders wagging mouths to compete with Yoruba, the real business people.
Okay,name any Igbo business that has existed for even up to 40,50,60 years.
None..maybe transport that brings you to Yorubaland to come and learn how to do real business

I can name different Yoruba indigenous businesses that had existed for more than 100,90,80,70 years and still counting.Praises to the Most High.

I can name more than 100 Yoruba naira billionaires with their businesses in Nigeria and overseas but you will not be able to name 40 Igbos in their categories.

I can name more than 5 Yoruba dollar and pound sterling billionaires in Europe with existing businesses but you wont be able to get 1 or 2 Igbos.
Igbos are just petty traders but they are trying sha.They just like to measure everything with Yoruba,their seniors and benefactors

Name them
I'm waiting