Afolayan Acquires Over 5.5 Million Shares in The Initiates Plc

The Initiates Plc has disclosed a significant insider transaction involving substantial shareholder Afolayan Samuel Olajide.

According to a notification dated September 26, 2025, Afolayan purchased 5,520,194 units of ordinary shares at ₦12.00 per share on the Nigerian Exchange (NGX) on September 18, 2025.

The transaction was formally reported by the company secretary, Olaide Odejobi, and classified as an initial notification. The shares are identified under ISIN code NGINITSPLC05. The company emphasized that the purchase was part of a direct acquisition of holdings and reaffirmed its commitment to transparency in insider dealings.