, the impact development unit of Africa Export and Import Bank , has obtained a 5 per cent stake in electricity generating firm, Geregu Power.
“The purchase of the shares was concluded today the 21st of February 2023 with the purchase agreed in on the 21st of December 2022,” Geregu said in a note to the Nigerian Exchange published on Wednesday. Shares in the company accelerated by 10 per cent, the maximum allowed daily limit, as of 13:03 WAT to N246.4 per unit, itshighest-everr price level, following the news.
The off-market deal transferred 125 million shares of Geregu Power to FEDA, making the organisation the biggest shareholder of the company after Femi Otedola.Afreximbank first
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