Several directors and employees of HBM Nigeria Plc have collectively acquired more than 540,000 ordinary shares of the company in a series of insider transactions executed between May and June 2026, according to regulatory disclosures filed with the Nigerian Exchange (NGX).
The sustained share purchases by senior executives and employees underscores growing confidence in the company’s long-term prospects following its recent ownership transition and rebranding.
HBM Nigeria Plc, formerly Lafarge Africa Plc, recently adopted its new corporate identity after becoming part of Huaxin Cement Co., Ltd., one of China’s leading cement manufacturers following Huaxin Cement’s acquisition of a controlling stake in the company.
Insider Transactions
The largest insider purchase was made by staff member Mr. Chinedu Richard, who acquired 335,800 ordinary shares at an average price of N337.00 per share between May 11 and June 16, 2026. His purchases included substantial tranches executed at prices of N346.00 and N339.00 per share.
Group Managing Director and Chief Executive Officer, Mr. Lolu Alade-Akinyemi, purchased 70,000 shares at N318.50 per share on June 24, 2026.
Another staff member, Mr. Adesegun Onabanjo, acquired 75,206 shares at an average price of N317.81 per share through multiple transactions carried out between June 11 and June 30, with purchase prices ranging from N294.00 to N329.00 per share.
Company Secretary Adewunmi Alode also increased his stake by purchasing 31,290 shares at N314.50 per share on June 26.
Other disclosed insider purchases include Mr. Osazemen Aghatise, who acquired 21,900 shares at an average price of N326.54 between May 5 and June 9; Mr. Oluwaseun Awolola, who bought 4,650 shares at an average price of N320.08 between June 10 and June 26; and Mrs. Adannaya Duru, who purchased 2,000 shares at N340.00 per share on May 13.
In total, the disclosed transactions amount to approximately 540,846 shares, representing investments worth hundreds of millions of naira based on the reported transaction prices.
Significance of Transactions
Insider buying is generally viewed by investors as a positive signal because it demonstrates that directors and employees are committing their own capital to the company.
The latest acquisitions may reflect management’s confidence in HBM Nigeria’s strategic direction and future growth following its integration into the Huaxin Cement Group.
Formerly Lafarge Africa Plc, HBM Nigeria Plc is one of Nigeria’s leading cement manufacturers and operates as part of the Huaxin Cement Group.
