The Group Managing Director and Chief Executive Officer of
Access Holdings, Herbert Wigwe, has increased his stake in the financial
institution to 8.13 percent.
This followed Thursday’s acquisition of 1.13 billion shares
valued at N11.35 billion in the lender.
The development has therefore increased Wigwe’s stake in the
organisation from 4.93 percent to 8.13 percent.
Access Holdings confirmed the development in a corporate
filing sent to the Nigerian Exchange Limited (NGX) on Friday.
Following the acquisition, Wigwe now owns 2.89 billion
shares worth N29.34 billion in Access Holdings, the parent company of Access
Bank.
He bought the 1.13 billion shares through his investment
company, Tengen Holdings (Mauritius) Limited.
This increased Wigwe’s indirect shares to 2.68 billion.
The indirect shares are split between United Alliance
Company Nigeria Trust and Capital Limited and Coronation Trustees Tengen
Mauritius.
He holds 201.23 million direct shares in the company.