Otedola sells 2.8 million shares in Geregu Power for N820.67m

The Chairman of Geregu Power Plc, Mr Femi Otedola, has sold 2,823,092 shares out of his stake in the power generation company for N820.67 million. 

The company disclosed this on Wednesday in a notification of share dealing obtained by Markets Reporters from the Nigerian Exchange Limited. 

Otedola, who is the majority shareholder in Geregu Power, sold 1,875,000 shares for N288.9 per share and 948,092 shares for N290.7 per share on Monday and Tuesday, according to the document. 

Geregu Power had in October last year listed on the Nigerian stock exchange, becoming the first power generation company in the country to do so. 

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