NewStats: 3,265,551 , 8,187,175 topics. Date: Sunday, 15 June 2025 at 05:27 PM r4923

With 5.5% Stake, Femi Otedola Emerges Transcorp’s Largest Individual Shareholder

Billionaire businessman, Mr. Femi Otedola has emerged largest single individual shareholder in Transnational Corporation Plc (Transcorp), a publicly traded diversified conglomerate chaired by Mr. Tony Elumelu.

A top stockbroker at the Nigerian Exchange Group (NGX), disclosed to THISDAY that the billionaire now owns about 2.245 billion shares, representing 5.52per cent of the company.

According to the audited result and s for period ended December 31, 2022, Elumelu, who is the chairman of Transcrop Corporation owned 273,104,041 issued share capital in the diversified conglomerate.

He also held 293,983,193 shares indirectly through HH Capital Limited and 273,545,722 shares are held indirectly through Heirs Holdings Limited.

Dr. Stanley Lawson, a Non-Executive Director of Transcrop Corporation owned 122,790,102 direct issued share capital, while Mrs. Owen Omogiafo, the President had 12,634,188 interest in the diversified conglomerate.

The only other shareholder with over five per cent ownership of the company is UBA Nominees which owns about 9.25per cent of the company as of 2022 from 9.26 per cent reported in 2021.

“As at December 31, 2022, only UBA Nominees Limited-Trading, held five per cent or more of the issued and fully paid shares of 50 kobo of the Company,” according to the 2022 audited result and s posted on the NGX.

No other shareholder held above five per cent according to records. The company also has about 39.65 billion out of its 40.65 billion outstanding shares on a free float. In fact, 1,695 people own about 89per cent of the company’s shares.

Transcorp is currently controlled by billionaire investor, Elumelu who took over control of the company in 2012. Since then the company has gone on to acquire a power generation company and branched into the oil and gas sectors of the economy.

Femi Otedola also acquired significant control of FBN Holdings early last year when he announced he had acquired shareholdings above the five per cent threshold.

That also immediately triggered a bidding war for the stock. However, unlike FBN Holdings, Transcorp has a single majority shareholder with control of the company.

Otedola also owns close to 90per cent stake in Geregu Power Plc which it listed on the Exchange last year. It is unclear if the latest acquisition is aimed at doubling down his investment in the power sector.

Transnational Corporation released its financial results for the full year ended December 31, 2022, with N134.7billion revenue, an increase of 21 per cent from N111.2billion reported in 2021.

The group reported N30.3billion profit before tax in 2022, representing an increase of eight per cent from N27.9billion in 2021. 

The Board of Directors of Transcrop Corporation had approved the payment of N2.03billion dividend  (2021:N812.96million), being 5 kobo per share on the outstanding ordinary shares of 40,647,990,293 shares of 50 kobo each for the year ended December 31, 2022.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2023/04/13/with-5-5-stake-femi-otedola-emerges-transcorps-largest-individual-shareholder/amp/

You begin to comprehend how wealthy the likes of Dangote, Bua and Adenuga are when you understand that despite Otedola and Elumelu being wealthier than some African countries, they're not rated by Forbes as dollar billionaires.

Change of leadership loading

I'm the next

I will take over everything in the next 5 years

Money men. Whereas some people are here defending their ancestors for 30/month

Congratulations

Transcorp that is a dead conglomerate.

A very dead brand from the onset.

Femi, has some old accumulations from Nigeria's crude reserves but he is not so much a wise investor.

He was a FBN, and he left. . Where is his outlay in Forte/AP?

He got his significant wealth from the oil block that FG allocated to him. . Not that he was so inventive or creative.

Only poor Nigerians are engaged in appalling tribalistic war while the riches are making more allies in order to make more money irrespective of tribe



Waaw. 9985 profit per share in 2022


God answer my prayer

I looked at Forbes billionaire list today, and it is just crazy mehn. Things that caught my attention.

1. Bernaut and family is about $240+BN, while Elon musk is about $180+BN. The difference here, Omo.

2. Even though Baba is retired, Bill Gates is still amongst top 10 richest men.

3. Zuckerberg is somewhere around 15th, this used to be in top 10. Omo.

4. I found the female gender amongst top 10.

The Otedolas fit dey like 1000 Omo.

Don't let anyone tell you elections are over. Elections shape lives so election riggers and their ers are destroyers of lives

The real Lagosian but he doesn't brag

Lol. Otedola is richer than every person in nnewi combined

What product or service is the Transcorp known for self

Hmmmm

How do I marry one of these men daughters so that I can get the transfer of generational wealth

ican2020:
Change of ownership is here

read and understand, you will not hear

Otedola is no more a billionaire in dollars and is far below elemelu in networth .....but yorubas are not ready for that discussion

Otedola is second largest shareholder after Tony Elumelu who through UBA nominee limited a private company own by Elumelu control 9.25 shares in Transcorp, Tony Elumelu also through Heirs holdings control another 3.5 shares in Transcorp

BigDawsNet:
I'm the next

I will take over everything in the next 5 years

Inside Nairaland abi?

Like is he likely to become the owner of Tony Elumelu group of companies

Cuppy dat

RenegadeX:
How do I marry one of these men daughters

Ogbeni go hustle and you marry your choice

Money meets money equal Richness

Father, bless the work of my hand.

His is second largest shareholder after Tony Elumelu

Not too bad at least I was able to buy 20%.

Wealthy people are going beyond tribal borders to network and get richer while riffraff are on Nairaland promoting tribal banters.

money men

all these Yoruba men dominating everywhere. Must Yoruba be everywhere, entertainment, media, tech, medical fields, powerful politicians.?
They come get fine girls again, Yoruba girls dey enter my eyes. hmmm it is well

N3TRAL:


https://www.google.com/amp/s/www.thisdaylive.com/index.php/2023/04/13/with-5-5-stake-femi-otedola-emerges-transcorps-largest-individual-shareholder/amp/

Igbo man and yoruba man
U will never see dem fighting
But people begging to feed are the ones fighting on nairaland shouting Yoruba ronu
Tufiakwa