Prime Business Africa2025 has been a good year for Kayode Falowo, the chairman of Meyer Plc, as the company’s bullish run on the Nigerian Exchange Limited (NGX), also known as the Nigerian stock market, has increased the value of his investment in the paint manufacturer by 98.69 percent.
Falowo, who holds 25.68 million direct shares and 156.41 million indirect shares, through Greenwich Capital Limited, in Meyer, had begun January with N1.53 billion as his investment value.
Join our WhatsApp ChannelHowever, as of August 15, the investor’s investment value has increased to N3,05 billion, indicating Falowo has gained N1.51 billion year-to-date, according to Prime Business Africa’s analysis.
The worth of his 182,10 million shares had doubled after Meyer’s share value had appreciated by 98.69 percent from N8.43 kobo on January 2 to N16.75 kobo on August 15, indicating the cost of a share rose by N8.32 kobo.
PBA noted that Falowo was not the only investor who benefited from the surge in equity traders’ interests in Meyer, as other shareholders of the paint manufacturer also saw a 98.69 percent appreciation in their investment value.
Analysis showed that Falowo and other shareholders of Meyer recorded a combined gain of N4.41 billion, with the chairman’s gain representing 34.28 percent.
Also, due to the company’s share price rising by N8.32 kobo year-to-date, Meyer’s market valuation in the Nigerian bourse has increased by N4.47 billion to N8.89 billion during the same period.
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