spot_img
spot_img
25.2 C
Lagos
Friday, September 30, 2022

Union Bank CEO Purchases 2.4mln Shares Amid Takeover Whispers

Must read

Godson Chukwuemeka Okonkwo the Chief Executive Officer (CEO) of Union Bank of Nigeria Plc has purchased 2.431 million new shares in the bank, amid whispers of a buyout by either Access Bank or Zenith Bank.

The purchase was made on Thursday May 06, 2021, at an average price of N4.90 per share, according to a filing on the Nigerian Stock Exchange (NSE).

This means a total of N11.9 million was spent on the trade.

News broke last week that Union Bank was a takeover target with tier-one Nigerian firms including Access and Zenith Bank said to be interested.

If so that should help push the stock higher as investors will expect the takeover to come with a significant premium.

Union Bank stock is down 25 percent in the past year and the bank sports a market capitalization of N144 billion.

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article