Maurice Iwu, the chair of the Unbiased Nationwide Electoral Fee (INEC) from June 2005 to April 2010, elevated his curiosity in drug-maker Neimeth Worldwide Prescription drugs by 20.1 million shares.
Based on two current regulatory filings on the Nigerian Trade Restricted (NGX), the previous chief of the nation’s electoral physique bought 10 million shares in 11 totally different transactions between 26 June and 26 August.
Altogether, the offers have been price over N19 million.
Mr Iwu additionally acquired 10.1 million shares in piecemeal throughout 13 transactions between 6 and 28 June. These transactions summed as much as N16.2 million.
Added to the 470.9 million shares he held previous to his current acquisition, Mr Iwu’s curiosity within the pharmaceutical firm now totals 491 million shares equal to an 11 per cent holding within the entity.
As of the top of the final monetary 12 months, he held 20.1 million shares instantly in Neimeth and 450 million shares not directly by Intercedd Well being Merchandise Restricted, the place he’s chairman.
Neimeth reported a web lack of N2.9 billion final 12 months, taking a blow from a international alternate lack of N1.5 billion and stretching its lossmaking into the second 12 months in a trot.
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Complete belongings stood at N9.6 billion on the finish of June, in comparison with N8.9 billion six months prior, in line with its half-year 2024 earnings report.
READ ALSO: Info Safety Supervisor at Nigerian Trade Group (NGX Group)
ABC Orjiakor, the founding chairman of oil drilling large Seplat and speedy previous chairman of Neimeth administrators’ board, holds 259.7 million shares not directly within the firm by Ordrec Investments Restricted in addition to 431.8 million by Helko Nigeria Restricted.
Neimeth opened commerce in Lagos on Friday at a market capitalisation of N8.2 billion.
The inventory has yielded a damaging 0.52 per cent for the reason that begin of the 12 months.
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