A total of 961.5 million shares of UBA were traded on Thursday, July 20th, according to data from the NGX trading session.
There are currently 34.1 billion outstanding shares of UBA, with Hiers Holding holding a majority stake of more than 5%. 2.8% of the bank’s outstanding shares total 961.5 million shares.
According to sources, the deal involved United Capital Plc and APEL Securities, who was most likely the seller and had a value of roughly N12 billion at a price of N13.85 per share.
Reliable sources also suggest that AMCON via APEL Security was most likely the seller.
The NGX has not yet provided an update indicating if this constituted insider trading.
The deals may, however, be connected to Tony Elumelu, according to certain sources.
Details to come later…
