Stanbic Africa Holdings acquires N194.4m additional stakes in Stanbic IBTC Holdings

Stanbic Africa Holdings Limited (SAHL), a wholly-owned subsidiary of Standard Bank Group Limited, has increased its stakes in Stanbic IBTC Holdings PLC, a company trading its stocks on the Nigerian Exchange Limited (NGX).

According to a statement signed by the secretary of Stanbic IBTC Holdings Plc, Chidi Okezie, and filed with the Nigerian Exchange Limited (NGX), SAHL paid about N194.4 million to acquire the additional equities.

The breakdown of the transaction which occurred in Lagos on Monday showed that SAHL acquired additional 5 million units of Stanbic IBTC shares at a unit price of N38.88, amounting to N194, 400,000.

Stanbic Africa Holdings Limited (SAHL) is an unlisted, wholly owned subsidiary of Standard Bank Group Limited (SBG). SAHL is registered in the United Kingdom and is the holding company for majority of SBG’s African subsidiary banks.

As at 30th of June 2021, the financial services holding company owned about 7,443,450,299 units of shares translating to about 67.02per cent of Stanbic IBTC total shareholdings.

The recent transaction will raise the total shareholdings of the financial services holding company to 7,448,450,299 units, translating to 67.09per cent.

Stanbic IBTC Holdings Plc is currently trading at N39 per share on the floor of the Nigerian Exchange Limited (NGX).