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Seven insiders related to the Chairman of UBA Plc, Tony Elumelu have purchased 4.11 million shares at an average price of N6.93 per share valued at over N28 million.
The transactions took place between May 27, 2020 and Tuesday June 2, 2020, according to filings on the Nigerian Stock Exchange (NSE).
We at MoneyCentral are always keen to tell our readers to follow the smart money Inside buys as it is usually a sign that the stock is undervalued, at least in the eyes of those who know better.
Elumelu himself purchased 45,378 shares at an average price of N7.05, according to the filing.