HH Capital, Owned by Elumelu, Ups its Stake in Transcorp to 26%

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Tony Elumelu, the chairman of Transcorp Corporation Plc, boosted his ownership in the company through HH Capital Limited, where he serves as a director, by 9,697,189,979 billion shares.

It was revealed in a corporate notice filed on Thursday with the Nigerian Exchange Limited that HH Capital purchased the shares between April 19 and April 25 for N1.85, N2.45, N2.69, and N2.95 each.

This happened a few days after Femi Otedola, a millionaire businessman, purchased stock in the conglomerate and announced his desire to collaborate with the management to maximize the organization’s potential.

With this latest transaction, HH Capital Limited now owns 9,991,173,177 units in total, which is 25.58% of the entire group’s shares.

Punch.

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