DF Holdings Limited, currently a majority shareholder in AIICO Insurance has purchased a further 474.6 million new shares at N1.17 per share.
The total outlays for the shares purchased on December 31st 2020, came in at N555.2 million, according to a filing on the Nigerian Stock Exchange (NSE).
Business mogul, Dele Fajemirokun is the owner of DF Holdings, which has a more than 50 percent stake in AIICO Insurance.
AIICO insurance is up 125 percent in the past year, giving it a market capitalisaion of N23.1 billion.