United Bank for Africa Plc has notified the Nigerian Exchange Limited of a substantial insider share dealing by its Deputy Managing Director, Mr. Muyiwa Akinyemi. According to the disclosure dated May 17, 2024, Akinyemi purchased a total of 18,472,000 ordinary shares of UBA between May 14 and May 16, 2024.
The shares were acquired in multiple tranches on the open market, at prices ranging from ₦22.95 to ₦25.00 per share. The highest single-day volume was 15 million shares purchased at ₦25.00 on May 16, while earlier acquisitions included 988,471 shares at ₦23.55 and 1,536,267 shares at ₦23.00.
The total value of the transaction exceeds ₦433 million, reflecting a significant personal investment by the UBA executive. The bank confirmed that the transaction was conducted in compliance with regulatory requirements governing insider dealings.
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