Dr. Herbert Wigwe, the Group Managing Director and co-founder of Access Holdings, Nigeria’s largest bank holding company has acquired an additional 50 million shares worth N762.5 million in Access Holdings.
The acquisition of 50 million shares represents 0.14% of the company’s total outstanding shares of the company. This is contained in a notice of share.
The notice signed by Sunday Ekwochi, Company Secretary indicated that Tengen Holdings on June 26th, 2023, purchased 50,000,000 units of Access Holdings Plc at N15.25 per share valued at N762.5 million.
Wigwe’s indirect holdings, including Tengen Holdings and other entities, now amount to approximately 2.94 billion units of shares, making him the bank’s largest shareholder with about 8.8% of the total shareholding structure.
With the latest acquisition, he appears to be consolidating his position as the biggest shareholder of the bank, solidifying effective control. Wigwe also has an indirect interest in United Alliance Company of Nig Ltd and Trust and Capital Limited with shares of 537,734,219 and 584,056,979 respectively.
Access Holdings closed its last trading day (Tuesday, June 27, 2023) at N15.80 per share on the Nigerian Stock Exchange (NGX), recording a 3.6% gain over its previous closing price of N15.25.