By Aduragbemi Omiyale
The management of Transnational Corporation, otherwise known as Transcorp Plc, has disclosed that it was yet to be formally informed of the reported acquisition of a 5.5 per cent stake in the company by Mr Femi Otedola.
In response to an enquiry from the Nigerian Exchange (NGX) Limited, the conglomerate said it could not confirm or deny the reports, which spread like wildfire on Wednesday.
In recent times, Transcorp has witnessed heavy transactions at the local stock market, and on Tuesday, it saw an off-market deal of 1.5 billion units transacted between two parties.
It was reported that Mr Otedola now controls more than 2 billion units of the company’s stocks, making him the second largest shareholder with over a 5 per cent stake in the firm, behind UBA Nominees Limited.
Transcorp is chaired by Mr Tony Elumelu.
Responding to the issue on Thursday, Transcorp, which has interests in different sectors of the economy, said it would welcome more investors into its fold.
“Whilst the company has not yet received formal notification of any relevant interest in its shares, Transcorp, Nigeria’s largest listed conglomerate, known for its broad and diversified shareholder base, welcomes every new shareholder acquiring shares in the company.
“We welcome this expression of confidence in the leadership and management of Transcorp as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.
“We remain resolute in executing our group’s strategy of making strategic investments in key sectors within the Nigerian economy, our transformation agenda and our ability to contribute positively towards building prosperity.
“The group released its financial results for the full year ended December 31, 2022, showing total revenue rose by 21 per cent from N111.2 billion in December 2021 to N134.7 billion in the period under review. Transcorp’s share price has risen by 23.9 per cent year to date,” the notice signed by the president and group chief executive of Transcorp, Owen Omogiafo, said.
