Transnational Corporation Plc (Transcorp) has knowledgeable the Nigerian Trade Restricted (NGX) and the investing public of the acquisition of recent shares by HH Capital LImited, owned  by billionaire investor Tony Elumelu.

HH Capital Restricted is an organization (Particular Objective Automobile) which appears to be an acronym for Heirs Holdings.

In line with a public search of the corporate, it reveals the administrators of the corporate are Tony Elumelu, Awele Vivien Elumelu, Obinna Ufudo (former MD/CEO of Transcorp Plc), Samuel Nwanze, and Mathew Isonajo.

The main points of the acquisition as of April 2, 2023 says HH Capital Restricted acquired 9,697,189,984 models of shares. This brings their complete holdings in Transcorp to 9,991,173,177 models which is a illustration of 25.58% of the corporate complete shares.

HH Capital Acquisition

The NGX web site’s press launch states that Transcorp Plc says that HH Capital bought 1,843,008,604 models @ N1.856,552, one other 167,522 models @N2.45.

Moreover, it said that purchases of 16,38,209 models @2.69, 1,039,399,05 models @2.95 and 245,876,592 at varied costs which totalled to 9,697,189,979 have been a part of the transactions between April 19 to April 25, 2023.

Nevertheless, it’s unclear if UBA Nominees which have been the bulk shareholder of Transcorp Plc will retain their shareholding or if a part of it was crossed to HH Capital Restricted.

Transcorp Plc earlier introduced Femi Otedola bought an extra 228,384,959 shares of the corporate which add as much as the 55.05% he already owns.