Insider Confidence: Afolayan Acquires Millions in The Initiates Plc Stock

The Initiates Plc has disclosed a significant insider transaction involving substantial shareholder Afolayan Samuel Olajide, who purchased a total of 2,419,962 ordinary shares on the Nigerian Exchange (NGX) across two trading days.

Related News:

• Afolayan Reduces Stake in The Initiates Plc Through Large Share Sale
• Shareholder Shake-Up as Olajide Sells Big in The Initiates Plc

According to the official notification, the transactions occurred on August 25 and 27, 2025, with 35,100 units acquired at ₦12.01 per share and 2,384,862 units at ₦12.00 per share. The shares are listed under ISIN: NGINITSPLC05.

This move underscores continued investor confidence in the waste management and industrial cleaning company, headquartered in Port Harcourt. The disclosure was signed by Olaide Odejobi, Company Secretary of The Initiates Plc.