Business
Elumelu Affirms Position As One Of Wealthiest Investors On Nigerian Exchange
the billionaire who just took on added job
Extra-Ordinary entrepreneur, Tony Elumelu has affirmed his place as one of the wealthiest investors on the Nigerian Exchange.
The value multiplier took this significant step with the increase of his shares in the United Bank for Africa (UBA).
The information available to SocietyNow.Ng has it that Elumelu just increased his stake in the global bank that disclosed a 29.2% increase in revenue to N853 billion with the purchase of an additional 70 million shares.
The development which upped the stake of the billionaire – who just took on added job of limiting the impact of extreme climate in Africa – from 6.96 percent to 7.17 percent cost him N560 million SocietyNow.Ng learned.
The added information available revealed that the deal was a recent transaction carried out through HH Capital Limited.
Elumelu who is the power behind the mega value-adding Transcorp Group is the chairman of UBA Group.
He also recently increased his stake in Transcorp Group ( Transnational Corporation Plc) , the multifaced enterprise that declared a N134.7 billion earning to 25.5 percent through HH Capital Limited SocietyNow.Ng confirmed.
