The co-founder of Guaranty Trust Bank, Fola Adeola, has sold 18,250,000 units of shares in Aradel Holdings valued at N10.9bn.
In a notice filed on the Nigeria Exchange Limited recently, the transaction, which took place on December 31, 2024, was executed at a price of N598.50 per share.
Aradel is an integrated energy company with operations spanning upstream, midstream, downstream, power, and renewables.
Related News:
- Consolidated Hallmark Shares Surge 20% in Early December
- Aradel Holdings to Acquire 5.14% Stake in Chappal Energies Mauritius Limited
- Africa Prudential Shares Surge Over 40% Month-to-Date Following Strong Q3 Earnings
Adeola, a shareholder in Aradel Holdings, holds over five per cent of the company. The sale was conducted on the Nigerian Exchange Limited and marks a divestment from the company, reflecting a key financial move by the businessman.
Also, Aradel Holdings Plc has entered into an agreement to acquire a 5.14 per cent equity interest in Chappal Energies Mauritius Limited, an energy company focusing on investments in deep value and brownfield upstream opportunities within Africa.
By
By
