THUR. 23 FEB, 2023-theGBJournal| Fund for Export Development in Africa (FEDA), the impact development arm of the Africa Export and Import Bank (Afreximbank) has bought a 5% stake in Geregu Power Plc.
Geregu Power Plc in notification to the NGX Exchange and the investing public said the purchase of the shares was concluded Tuesday, February 21, 2023 with the purchase agreed in on the 21st of December 2022.
‘’With this purchase FEDA now currently holds 5% of Geregu Power Plc Shares,’’ the Geregu said.
The power generating and supply company in October 2022, became the first power generating company in Nigeria to be listed on the Main Board of the Nigerian Exchange Limited (NGX) by way of listing by Introduction (LBI).
2.5 billion ordinary shares of 50k each at N100 per share of the company, majorly owned by billionaire businessman, Femi Otedola were admitted on the Exchange.
The listing of Geregu’s shares added N250,000,000,000 billion to the market capitalisation of NGX.
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