FEDA Plans to Acquire Shares in Geregu Power

Kayode Tokede

Geregu Power Plc has disclosed to investing public the proposed plans by Fund for Export Development in Africa (FEDA) to acquire a portion of its shares listed on the Nigerian Exchange Limited (NGX).

The Company Secretary, Geregu Power, Akinleye Olagbende in a signed statement said, “The discussions are currently ongoing and where these talks progress to a more advanced stage, the Company will notify the Exchange and the investing public in line with the rules of the Exchange.”

Geregu Power was recently listed on the Main Board of the Exchange by way of introduction.

A total of 2.5 billion ordinary shares of Geregu Power were listed at N100 per share, under the Utility sector and Electric Power Generation sub-sector of NGX, with the trading symbol, GEREGU. The listing added N250 billion to the market capitalization of Exchange.