Bisola David
An executive director of Zenith Bank Plc, Dr Temitope Fasoranti, has acquired more than 1.7 million shares in the lender.
The Punch reported that this was disclosed in a corporate notice filed with the Nigerian Exchange Limited on Thursday and signed by the company secretary and general counsel of Zenith Bank, Michael Otu.
Earlier this month, Fasoranti purchased the shares in different tranches and on different days.
Fasoranti purchased one million Zenith Bank shares on Monday at an average cost of N34.95 each.
The shares were purchased in four tranches 200,000 at N34.80, 300,000 at N34.90, 200,000 at N35.00, and 300,000 at N35.10.
The ED purchased an additional 750,000 shares on Tuesday. In three instalments, 300,000 units were purchased for N34.70, 300,000 units for N34.80, and 150,000 units for N34.90 each.
The transactions had a total estimated value of N61.05 million.
According to Zenith Bank Plc’s half-year report, Fasoranti was appointed as an ED on December 29, 2017.
Fasoranti directly owned 13,075,000 units as of June 2023.
In the meantime, the Banking sector saw a huge 5.01 percent gain on Wednesday thanks to tier 1 banking stocks. In addition to GTCO, United Bank for Africa, and AccessCorp, Zenith Bank Plc’s shares had the largest volume and highest value of the day, which added to the overall positive performance of the market.
