Femi Otedola, a multibillionaire businessman, has acknowledged his purchase of shares in the indigenous company Transcorp Corporation Plc.
Otedola indicated a wish to collaborate with the company’s management to realize it’s potentials in a message posted on his Twitter account on Monday.
“Following this acquisition, I look forward to working with the board and management of Transcorp to realise the amazing future potential of the corporation …F.Ote,” he said.
Otedola purchased 2,245,639,251 units of the group’s shares which also amounts to a 5.52 percent interest, according to Transcorp’s disclosure in a corporate notice filed last week with the Nigerian Exchange Limited.
In the notice filed signed by the Company Secretary, ‘Funmi Olofintuyi, with the NGX on Thursday, Transcorp said that it welcomes the investment.
As noted in our previous communication, the Company welcomes this expression of confidence in its leadership and management as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism. Rest assured of our commitment to remain resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, our transformation agenda and our ability to contribute positively towards building prosperity for all,” the statement partly read.
There were rumours over the weekend that Otedola had increased his interest in the conglomerate to above 6% by purchasing additional shares.
In the meantime, some shareholder groups have praised Otedola’s purchase of Transcorp shares. They also suggested that the business tycoon cooperate with the current shareholders to advance the corporation.
