Stanbic Africa Holdings Limited acquires additional 5.5m units of shares in its Nigerian unit,  worth N216.2 million.

Stanbic Africa Holdings Limited (SAHL) has announced the acquisition of an additional 5.5 million units of shares in its Nigerian subsidiary- Stanbic IBTC Holdings PLC, in a deal worth N216.2 million.

This is according to a disclosure signed by the secretary of Stanbic IBTC Holdings Plc, Chidi Okezie, and filed with the Nigerian Exchange Limited (NGX).

The breakdown of the transaction which occurred in Lagos on Tuesday showed that SAHL acquired additional 5,557,703 units of Stanbic IBTC shares at a unit price of N38.90, amounting to N216, 194,646.7

This transaction comes barely 24 hours after the financial services holding company had similarly spent about N194.4 million for the purchase of an additional 5 million stakes in its Nigerian subsidiary.

In this light, the recent transaction thereby raises the stake of SAHL in Stanbic IBTC to about 67.16% translating to 7,454,008,002 units of shares. Recall that as at 30th of June, 2021, the former held about 7,443,450,299 units of shares in the latter, indicating about 67.02% of the latter’s total shareholdings.

Stanbic Africa Holdings Limited (SAHL) is an unlisted, wholly owned subsidiary of Standard Bank Group Limited (SBG). SAHL is registered in the United Kingdom and is the holding company for majority of SBG’s African subsidiary banks.

Stanbic IBTC Holdings Plc closed trading today 15th of September, 2021 at N38.9 per share on the floor of the Nigerian Exchange Limited (NGX).



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