The board of Stanbic IBTC Holdings Plc, on Thursday announced that its parent company- Stanbic Africa Holdings Limited, a wholly owned subsidiary of Standard Bank Group Limited, recently raised its stake by 11.35%.
A statement titled “announcement to the Nigerian Stock Exchange on significant share acquisition by Stanbic Africa Holdings Limited…” explained that an additional 1.141bn units of Stanbic IBTC Holdings was acquired in an “off-market” transaction.
Signed by Chidi Okezie, the company secretary, the statement however did not state the consideration, but said the addition shares raises the core investor’s stake from 53.09% to 64.44% post this transaction.