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Monday, March 27, 2023

FBN Holdings CEO UK Eke Increases Stake in Bank by 20m Shares

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The Group Chief Executive Officer (CEO) of FBN Holdings Urum Kalu (UK) Eke has increased his stake in the bank by buying 20 million new shares.

The shares were purchased between December 2019 and September 2020.

Eke in the process increased his ownership in FBN Holdings to 0.23 percent of outstanding shares for a total of 85.26 million shares.

The shares are valued at N571.2 million.

FBN Holdings shares have risen by 81 percent from the depths of the coronavirus lows hit earlier in April this year.

Eke has been notoriously bullish on FBN Holdings shares which he apparently believes is undervalued based on his insider trades over the past 2 years.

Eke’s direct holdings of FBN Holding shares has grown significantly from 22.4 million shares at the end of 2018, to 85.26 million shares today.

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