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Home Markets Equities Company Results

Primrose Investment Limited injects N70.2 million in additional FCMB shares.

Chidi Emenike by Chidi Emenike
July 1, 2021
in Company Results, Markets
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Primrose Investment Limited, a real estate and property development company, has announced the purchase of additional 22 million units of FCMB Group Plc shares worth N70.22 million.

This is according to a recent disclosure, signed by the firm’s secretary, Olufunmilayo Adedibu, and sent to the Nigerian Exchange Group Limited (NGX).

Breakdown

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The breakdown of the recent deal showed that Primrose Investment Limited purchased a total of 22,000,000 units of FCMB shares at an average price of N3.1917 per share. This puts the total consideration for the shares purchased at N70, 217,400.

It is pertinent to note that the deal took place in three tranches on 24th, 28th and 29th of June, 2021. The breakdown of the amount spent in each tranche is succinctly captured below;

  • In the first tranche, 500,000 units of the firm’s share were purchased at N3.0956 per share, grossing N1, 547,800.
  • Another 500,000 units were purchased at N3.1 in the second tranche, totalling N1, 550,000.
  • The last tranche recorded the highest deal with the purchase of 21,000,000 units at N3.3796 per share, grossing N70, 971,600.

What you should know:

Earlier this year, Nairametrics reported that Primrose Investment Limited had spent N66.6 million on the purchase of additional 20 million shares of the company

Tags: FCMB Group PlcPrimrose Investment Limited
Chidi Emenike

Chidi Emenike

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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