Prime Business Africa
Lasaco Assurance’s majority shareholders, Ibile Holdings Ltd and Canon Properties & Investments Ltd, increased their shareholdings in the company by 7.08 billion shares in the first quarter (Q1) of 2025.
According to Prime Business Africa’s analysis, Ibile Holdings increased its shares by 4.58 billion from 506.94 million shares held as of December 31, 2024, to 5.09 billion shares in Q1 2025, according to the company’s financial statements for the period in review.
Join our WhatsApp ChannelAnalysis showed that Ibile’s 506.94 million shares, which represent 27.65 percent, were valued at N1.56 billion, while the 5.09 billion shares are worth N16.28 billion as of June 13, 2025.
This is due to the 3.55 percent increase in the company’s share price, which rose from N3.09 as of December 31, 2024, to N3.20 kobo as of June 13.
Also, Canon Properties’ shares increased from 232.94 million to 2.73 billion during the same period, indicating an increase of 2.50 billion shares.
The 232.94 million shares, representing 12.70 percent, were worth N719.78 million, however, after the increase, the value of the 2.73 billion shares is now N8.74 billion.
Similarly, De-Lexus Investment Limited, the third majority shareholder, raised the number of shares it holds by 808.13 million in the first quarter of this year, from 66.86 million shares, which represents a 3.65 percent stake, to 875 million shares, representing a 7.89 percent stake.
Analysis showed that De-Lexus’ 66.86 million shares were valued at N206.61 million as of December last year, while the 875 million shares are worth N2.80 billion as of June 13.
Also, Westbury Transnational Limited added 734.28 million shares to its shareholding between January and March this year, increasing the shares from 36.79 million (2.01 percent stake), worth N113.70 million, to 771,08 million shares (6.96 percent stake), which is valued at N2.46 billion as of June 13.
However, Akin Doherty, a non-executive director on Lasaco Assurance’s board and majority investor in the company due to his indirect shares through Canon Properties, reduced his direct shares in the insurer from 2.94 million (0.16 percent stake) to 737,411 (0.01 percent stake).
This reduced the value of Doherty’s direct investment in Lasaco to N2.35 million as of June 13, from N9.11 million as of December 31, 2024.
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