Otedola’s Geregu Power begins share acquisition talks with Afreximbank

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Geregu Power’s share price fell 5.7 per cent N122.8 in Lagos on the day of the announcement, a signal investment are possibly not impressed by the move.

The firm two month ago debuted on the Nigerian Exchange, listing 2.5 billion shares that carried a cumulative market value of N250 billion at listing. That was the first time an electricity company would have a separate listing on the bourse.

Owned by billionaire mogul Femi Otedola, Nigeria’s one-time third richest man, Geregu Power came close to reporting a half jump in net profit for the 2022 financial year after

 

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