Tony Elumelu’s HH Capital Increases Transcorp Stake to 29.5%

HH Capital Limited, owned by the billionaire investor, Tony Elumelu, Chairman, United Bank for Africa (UBA), has acquired an additional 1,999,784,173 units of shares of Transnational Corporation of Nigeria Plc, otherwise known as Transcorp Plc, bringing his total shareholding in the company to 11,990,957,350 units, amounting to 29.5 percent of Transcorp Plc outstanding shares.

“As noted in our previous communication, the Company welcomes the continued expression of confidence in its leadership and management by the investing public, as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism. Rest assured, we are committed to remaining resolute in executing our Group’s strategy of making strategic investments in key sectors within the Nigerian economy, transforming Africa, and contributing positively towards building prosperity for all,” Funmi Olofintuyi, acting company secretary of Transcorp Plc said in a statement.