Femi Otedola's acquisition of a 5.5% stake in Transcorp Plc, Nigeria's largest listed conglomerate, has not been formally confirmed by the company's management. Transcorp has recently seen significant transactions on the local stock market, with 1.5 billion units transacted between two parties on Tuesday.
It is now reported that Otedola controls over 2 billion units of the company's stocks, making him the second largest shareholder with a 5% stake in the company.
In response to the reports, Transcorp said it would welcome more investors and expressed its commitment to executing its group's strategy of making strategic investments in key sectors within the Nigerian economy.
The company has released its financial results for the full year ended December 31, 2022, showing total revenue increased by 21%.
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