OMA Investments Ltd Raises Stake in Ikeja Hotel to 25.89%

By Dipo Olowookere

One of the majority shareholders in Ikeja Hotel Plc, OMA Investments Ltd, has raised its stake in the firm to 25.89 percent.

This was confirmed by the management of the company in a statement released to the Nigerian Stock Exchange (NSE) and signed by its Compliance Officer, Olayiwola Osituwo.

It was disclosed that OMA Investments, which used to have a total of 259,004,316 shares, now has a total of 538,109,194 shares.

This followed the acquisition of 279,104,878 shares of the hospitality company from UBA Nominees Limited few days ago.

Business Post gathered that the resultant shareholdings of UBA Nominees Ltd in Ikeja Hotel Plc after the deal is now zero.

It was alleged that OMA Investments acquired the 100 percent stake of UBA Nominees Ltd at N2.05k per share on November 16, 2018.

“We recently became aware of publications in various online media outlets of the possible departure of a key investor; due to a significant purchase of 279,110,328 shares valued at N572 million which was allegedly sold at a price of N2.05.

“We confirm that on November 16, 2018, one of the company’s majority shareholders, OMA Investments Ltd, purchased 279,104,878 shares of Ikeja Hotel Plc from UBA Nominees Ltd-Trading.

“With the consummation of this transaction, OMA Investments Ltd’s total shareholdings in Ikeja Hotel Plc is now 538,109,194 shares representing 25.89 percent.

“Also, the resultant shareholdings of UBA Nominees Ltd, the selling shareholder in Ikeja Hotel Plc, now amounts to zero shares,” the statement said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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