Oliver Alawuba, the Group Managing Director and CEO of United Bank for Africa Plc (UBA) has purchased an additional 22,816,172 shares of United Bank for Africa Plc, according to information disclosed by the group.
According to a corporate filing on the NGX website and obtained by Nairametrics, the shares were sold in transactions that took place on November 1, 2023.
The shares were obtained at an aggregate price of N21.41 per share unit, thus the shares purchase was valued at N488.5 million.
Before the November 1 transaction, Alawuba owned just 1,593,248 units of UBA shares. But now, he owns 24,409,420 shares in the group.
What you should know
On November 1, there was a flurry of insider share purchases in the UBA Plc, including:
- Muyiwa Akinyemi, the group’s Deputy Managing Director bought 13,667,506 shares at an aggregate price of N21.05, representing a total value of N287.7 million.
- Michael Ilobah, the Group Head, of Business Assurance bought 2,336,281 shares at an aggregate price of N21.10, representing a total value of N49.3 million.
- Taiwo Sonola, the Head, of Global Investor Services bought 467,256 shares at an aggregate price of N21.00, representing a total value of N9.8 million.
- Alex Alozie, an Executive Director bought 9,345,124 shares at an aggregate price of N21.00, representing a total value of N196.2 million.
- Tony Elumelu’s family was not left out. His wife, Awele Elumelu purchased 187,854 shares at an aggregate price of N20.95, representing a value of N3.9 million.
For Q3 2023, UBA reported a pre-tax of N98.4 billion, representing an 86.64% year-on-year increase from the corresponding period last year.
As of November 2, UBA’s share price closed at N20.95, representing a year-to-date appreciation of 176%.