Nigeria’s Transcorp shares worth $44MN traded in off-market deals

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 Shares in Nigerian conglomerate Transcorp, representing about 28 percent of the company and valued at 14.2 billion naira ($44.4 mln) were traded in cross-deals at 1.26 naira each on Thursday, according to a stock exchange announcement.

Photo: Shutterstock.

Transcorp has interests in hotels, power generation, and agribusiness.

There were seven deals involving 11.27 million shares traded off-market and executed by United Capital Securities, the announcement from the Lagos stock market said.

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It was not immediately clear who bought and sold the shares. Transcorp is majority owned by privately-held investment firm Heirs Holding, backed by ex-banker Tony Elumelu.

Transcorp stock fell 2.16 percent to 1.36 naira on Thursday.

The company was not available for comment.

($1 = 320.00 naira)

Reporting by Chijioke Ohuocha

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