Otedola Sells Geregu Power after 1,041.50% Gain in 3 Years
Femi Otedola has exited its position as the largest shareholder of Geregu Power Plc following a block deal closed with MA’AM Energy Limited for an undisclosed amount.
The stock market value of Geregu Power Plc’s 2.5 billion outstanding shares in the Nigerian Exchange remained flattish at N2.853 trillion at a unit price of N1,141.50.
Trading activities on the power-generating linked stock have always been tight versus the post-listing transaction that lifted the company’s market value tenfold.
The sale of a 77% shareholding based on the stock market price ought to generate at least N2.197 trillion, but block deals are often closed on a negotiated rate agreed upon by the party.
Geregu Power listed 2.50 billion shares in October 2022 at a unit price of N100, which translated to N250 billion in market capitalization. Geregu Power’s market value has increased by 1041% since it was listed and has paid shareholders dividends within the period.
The power-generating company hit an overbought position in the stock market, and its share price movement became tight in the absence of significant trading activities.
With a 18.52% free float rate, Geregu Power is compliant with Nigerian Exchange listing requirements.
MarketForces Africa reported that with a 76.4% controlling interest by Amperion Power Distribution Company Limited, Femi Otedola stood as the single majority shareholder of the power-generating company as of Sept., 2025.
Its shareholder structure, revealed by MarketForces Africa, noted that Libreville Power Limited controls 5% of the company’s 2.5 billion outstanding shares at the same time.
In a regulatory filing, Geregu Power announced that MA’AM Energy Limited has acquired 95% equity interest in Amperion Power Distribution Company Limited, thereby becoming the new controlling shareholder of Amperion Power Distribution Company Limited.
Geregu said consequently, the indirect controlling interest previously held by Calvados Global Services Limited and Mr. Femi Otedola, CON, in Geregu Power Plc has been transferred to MA’AM Energy Limited.
However, the change in the ownership of the company’s majority shareholder results in a change in the ultimate beneficial ownership of 77% of the company’s issued share capital. #Otedola Sells Geregu Power after 1,041.50% Gain in 3 Years NNPC to Activate $2.8bn AKK Gas Pipeline for Export in 2026
