Fidelity Bank Nigeria Plc has announced that one of its General Manager/Regional Head, Mr. Kenneth Opara, has purchased additional 1 million units of the Bank’s shares worth approximately N2.8 million.
In a disclosure, signed by the Bank’s Secretary, Ezinwa Unuigboje, the transaction occurred in two tranches with an average share price of N2.78 per unit.
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What you should know
Further checks by Nairametrics revealed that the shares purchased in two tranches were transacted at different prices.
- In the first tranche, 6,000 units were purchased at the price of N2.78 per unit, totalling N16,680.
- In the second tranche, 994,000 units were bought at N2.79, amounting to N2,773,260
- The transaction occurred on the 25th of November, 2020 and was reported inline with the rules of the Nigerian Stock Exchange.
- Nairametrics earlier reported that another Fidelity Bank Non-Executive Director had purchased additional 1 million units of the Bank’s share.
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What this means
The recent purchase by top insiders of the bank could portray an optimistic outlook on the bank’s profit in the near future.