In a major block trade on the Nigerian Exchange Limited (NGX), Dalio Property Development Company Limited has offloaded 45.2million units of UAC of Nigeria (UACN) Plc shares in a deal valued at N8.41 billion.
The transaction on June 16, executed at a unit price of N185, effectively reduces Dalio Property’s exposure by approximately 1.54 percent of UACN’s total outstanding shares of 2.9 billion units. This substantial divestment represents a significant portfolio adjustment by the real estate firm, which is linked to UACN chairman Khalifa Biobaku.
This block divestment marks one of the largest single-day equity liquidations by a corporate insider in the market this quarter. The trade also marks a sizeable portfolio monetisation by the real estate firm, which holds a core seat on the conglomerate’s board.
Folasope Aiyesimoju, Group Managing Director, UACN and Khalifa Biobaku, Board Chairman, UACN are directors in Themis Capital and AM&P with a combined holding
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