Stanbic Africa Holdings Limited (SAHL) has continued to consolidate its ownership in Stanbic IBTC Holdings Plc (Holdco) with acquisition of fresh equity. The company which is the single largest majority shareholder and parent company of Stanbic IBTC Holdings Plc, increased its shareholding with about 56,763,584 units of shares between September 2021 and November 12, 2021.
SAHL which embarked on a series of share purchase of its Nigerian subsidiary has injected over N2.2billion into the stock in a space of three months. The average share price at which the deals were sealed was N39/ per share. As at end of September 2021, SAHL, which is incorporated in the United Kingdom, accounted for 67.14 percent of the total shareholding of Stanbic IBTC Holdings Plc.
Stanbic Africa Holdings Limited which also is a subsidiary of Standard Bank Group Limited, incorporated in South Africa, which is the ultimate parent and controlling party of the group. Besides the share acquisition spree by the significant shareholder, two other individual shareholders of the company acquired a total of 8,611,115 units of shares at N39 per share within the period.
The total investment by the two individual shareholders stood at about N335.84million in two separate deals. The transaction brings the amount injected into the company in the review period to about N2.55billion. The tracking of the transactions done by Saturday Telegraph, based on information made available on the platform of the Nigerian Exchange Limited (NGX), showed that Stanbic Africa Holdings Limited accrued more than 57.76million units of shares in 14 deals in three months.
The fresh acquisition is aimed at increasing the shareholding of SAHL in the Holdco from the existing 67.14 percent as at September 30, 2021. In the financial year ended December 31, 2020, the total stake of SAHL in Stanbic IBTC Holdings Plc stood at 67.0 percent. Breakdown of the transactions reported to the Nigerian Exchange Limited showed that the least purchase per day stood at 179,392 units of the ordinary shares of the Holdco while the largest acquisition in a space of the three months was 9,812,126 units at N39/share. The ultimate parent and controlling party of the group/ company is Standard Bank Group Limited, incorporated in South Africa.
Stanbic IBTC Holdings PLC has nine direct subsidiaries and two indirect subsidiaries. Stanbic IBTC Holdings PLC (Holdco) is related to other companies that are fellow subsidiaries of Standard Bank Group Limited. These include Standard Bank Isle of Man Limited, […]