According to the Nigerian Exchange Limited, Odubiyi
purchased the shares in transactions that took place on the platform of the
exchange between Monday and Wednesday.
The 100m shares were bought at N3.54 per unit, which brings
the value of the deal to N354m.
Odubiyi was appointed the Managing Director of the HoldCo on
June 27, 2023.
As of the end of the first half of 2023, Odubiyi held
4,341,618 units of shares directly. With his new acquisition, Odubiyi’s
shareholding stands at 104,341,618 units.
This is coming days after a non-executive director in the
Holdco and Chief Executive Officer of Sterling Bank, Abubakar Suleiman, also
increased his stake in the business with the purchase of 50m units in a deal
worth N168m.
Suleiman bought the shares at the rate of N3.36 per unit.
In its half-year report, Sterling FHC revealed that Suleiman
held a direct 0.91 percent stake in the company amounting to 262,668,608. With
his latest acquisition, the bank’s managing director had increased his stake to
312,668,608 share units.
The shares of Sterling closed trading on the NGX at N3.44
per unit with 32,673,904 units traded on Wednesday. – PUNCH