Like Elumelu, Wigwe, Ebenezer Onyeagwu Acquires More Shares In Zenith Bank

The Group Managing Director and Chief Executive Officer of Zenith Bank, Ebenezer Onyeagwu, has acquired 8 million shares in the company.

He parted with N191.80 million to acquire the shares, which increased his stake in Zenith Bank from 0.26 per cent to 0.28 per cent.

Onyeagwu initially acquired 3.46 million shares, worth N82.88 million, on May 4, and the next day, he purchased 4.53 million shares, valued at N108.92 million – taking the total shares acquired within two days to 8 million. 

Prime Business Africa notes that the acquisition raised Onyeagwu’s total shares in Zenith Bank from 82.17 million shares held as of December 2022 to 90.17 million shares, worth N2.20 billion as of Wednesday. 

The stock market has been attracting high-profile investors since Femi Otedola shocked Tony Elumelu by wrestling for control of Transnational Corporation (Transcorp) Plc in April after quietly acquiring a 6 per cent stake in the firm. 

Although Elumelu was able to regain control by increasing his stake in Transcorp from 2 per cent to 30.8 per cent and Otedola sold his shares to him, however, the move by Otedola has been trailed by several share acquisitions among high-profile investors in the financial industry. 

The Group Managing Director and Chief Executive Officer of Access Holdings, Herbert Wigwe, has been purchasing shares in Access Holdings. 

On May 8, through his investment company, Tengen Holdings (Mauritius) Limited, Wigwe bought 140,000 shares, which cost him N1.61 million. Also, last week, he acquired 75 million shares worth N843.75 million. 

Elumelu also mopped up more shares in United Bank for Africa (UBA), with his investment company, HH Capital Limited, buying 70 million shares, which cost N560 million.