The investment held by Daisy and Theophilus Yakubu (TY) Danjuma in May & Baker has increased to N13.48 billion as of Thursday, August 28, from N7.02 billion recorded at the start of the year, according to Prime Business Africa’s analysis.
PBA gathered that the investment of the Danjuma family increased by N6.46 billion year-to-date, with TY accounting for 96.52 percent of the gain, while Daisy accounted for 3.47 percent.
Join our WhatsApp ChannelA breakdown of their shareholding in May and Baker showed that TY, the majority investor in the company, holds 720.87 million indirect shares through T.Y.Holdings Limited, representing a 41.78 percent controlling stake.
Also, Daisy has a shareholding of 25.96 million shares, representing a 1.5 percent stake, which were split into 14.87 million shares held through Oil Tech Nigeria Ltd, and 11.08 million shares held through Osis Yuvic Ltd.
Prime Business Africa’s analysis showed that TY’s shares were valued at N6.77 billion as of January 2, but they appreciated to N13.01 billion as of Thursday, indicating the businessman gained N6.23 billion.
Also, Daisy, who is May and Baker’s board chairman, gained N224,57 million, as the value of her investment jumped from N244.04 million to N468.62 million within eight months.
PBA notes that the investment of the Danjuma family had increased due to a 92.02 percent appreciation in May and Baker’s share price, which increased from N9.40 kobo to N18.05 during the period under review.
In addition, the gain recorded by the Danjuma family was 43.28 percent of the N14.92 billion gain earned by all the shareholders of May and Baker between January and August.
With the company’s share price rising by N8.65 kobo, Prime Business Africa gathered that May and Baker’s market valuation increased from N16.21 billion to N31.14 billion within the reviewed period.
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