Shareholder Shake-Up as Olajide Sells Big in The Initiates Plc

The Initiates Plc has disclosed a significant insider transaction involving substantial shareholder Afolayan Samuel Olajide. According to a regulatory filing dated September 1, 2025, Olajide sold a total of 6,762,135 ordinary shares on the Nigerian Exchange across two consecutive trading days — August 18 and 19, 2025.

The shares were sold in two tranches: 3,340,268 units and 3,421,867 units, both at a price of ₦13.00 per share. The transaction was classified as a sale of holdings and conducted under the company’s ISIN code NGINITSPLC05.

The Initiates Plc, known for its industrial cleaning and waste management services, confirmed the deal through its Company Secretary, Olaide Odejobi. The disclosure aligns with NGX’s transparency requirements for insider dealings and reflects continued shareholder activity within the firm.