FBN Holdings Kayode Tokede
Insiders in fundamental stocks on the Nigerian Exchange Limited (NGX) transacted N32.4billion worth of stocks in 2021, data gathered by THISDAY revealed.
The insiders include Managing Directors, Deputy Managing Director, Non-executive Directors, and shareholding firms, among others.
The companies whose directors were involved in the transactions include; Nestle Nigeria Plc, Dangote Cement Plc, Guaranty Trust Holdings Plc (GTCO), FBN Holdings Plc, Access Bank Plc, Fidelity Bank Plc, Nigerian Breweries Plc, MTN Nigeria Plc and United Bank for Africa Plc.
THISDAY investigation revealed that Nestle Nigeria Plc recorded the most active traded stock on NGX by insiders, followed by MTN Nigeria Plc.
Between January and December of this year, Nestle S.A, a majority shareholder in Nestle Nigeria purchased ordinary shares worth N25.6billion at a unit price of 18,459,945 and average price of N1,394 per share.
Combined with Mr. Femi Otedola’ s N2.3billion purchase of shares at aggregated volume at 200,000,,000 and N11.52, FBN Holdings with other two transactions recorded N2.43billion insiders transactions in one year.
Otedola who turns a significant shareholder purchased 70,000,000 units of FBN Holdings at N11.50; 55,000,000 units at N11.35; 40,000,000 units at N11.65 and 35,000,000 units at N11.65 from top management of the Holdings.
Karl Toriola who was a former Non-executive Director at MTN, Ishmael Nwakocha, an employee of the telecommunication company, Chioma Okigbo, and Anthony Tochukwu Obi, the company’s Manager, Business Intelligence and Strategy transacted a total of N303.5million worth of shares in the company during the period under review.
Toriola who is now the Chief Executive Officer, MTN Nigeria 2021 purchased an aggregate 515,102 ordinary shares at average price of N165.61 per share and 253,982 ordinary shares at average price of N162.96 per share on the NGX.
He also bought 679,370 ordinary shares at average price of N159.30 per share on March 2021.
Insiders in Nigerian Breweries traded N2.87billion worth of stocks in 2021, while Zenith Bank recorded N702.46million worth of transactions in 18 deals. As Fidelity bank recorded N193.08million worth of insider transactions, Access bank in three deals recorded N101.9million worth of transactions between January and December..
In addition, UBA, recorded N49.97million worth of transaction with a unit price of 6,158,628 units at N15.18 average price.The Bourse had introduced insider-trading rules following a CEO decision to sell part of its shares when it declared a closed period for trading in its stocks.“The problem wasn’t about the CEO selling his shares in the bank,” said a stockbroker, who […]