The majority shareholder of Geregu Power Plc, Femi Otedola, has sold over 2.8 million units of his shares in the power generation company.
According to a corporate filing on the Nigerian Exchange Limited on Wednesday, Otedola offloaded the shares in transactions that took place on Monday and Tuesday.
Otedola sold a tranche of 1,875,000 units of Geregu shares at N288.9 and another 948,092 units at the rate of N290.7 in deals worth N817.297m.
Otedola holds 95.6 per cent of Genco, almost all through his own power distribution company, Amperion.
PUNcH