Geregu Power Plc has notified the Nigerian Exchange Limited and the investing public of its discussions with the Fund for Export Development in Africa for the acquisition of a portion of Geregu Power Plc shares.“The discussions are currently on going and where these talks progress to a more advanced stage, the Company will notify the Exchange and the investing public in line with the rules of the Exchange,” Geregu Power said.
The Benedict Oramah-led bank stressed that it plans to buy shares in Geregu Power Plc, a leading power-generation company majority owned by Nigerian billionaire Femi Otedola. Geregu, a spin-off subsidiary of Otedola’s now-defunct Power Holding Company of Nigeria, successfully listed its shares on the Nigerian Exchange on October 5 at a price of N100 per share, giving it a market capitalization on the local bourse of N250 billion .
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