Prime Business AfricaSegun Agbaje, the group managing director (GMD) of Guaranty Trust Holding Company (GTCO), saw his investment in the lender appreciate by 20.35 per cent between January 2 and May 14.
According to an analysis of his investment in GTCO, Prime Business Africa gathered that the appreciation earned the businessman N482.88 million within five months.
Join our WhatsApp ChannelThis increased Agbaje’s net worth in the financial institution from N2.37 billion at the start of the first quarter to N2.85 billion as of May 14, as he holds 41,62 million shares of the company.
A breakdown of his shareholding showed that Agbaje holds direct shares of 32.14 million and indirect shares of 9.48 million.
During the same period under review, GTCO shareholders gained N395.98 billion, which includes that of Agbaje.
Prime Business Africa gathered that the lender’s shareholders profited on their investment due to the bullish sentiment stock market investors have towards GTCO’s shares year-to-date.
Analysis showed that GTCO’s shares appreciated by N11.6 kobo from N57 per share on January 2 to N68.60 kobo on May 14, amid investors’ belief that the equity will experience an upward trajectory.
As the price of the shares went up by 20.35 per cent, so did the value of GTCO, as the company’s market valuation increased from N1.94 trillion recorded earlier this year to N2.34 trillion as of May 14.
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