- FEDA proposed plans to acquire a portion of Geregu Power Plc.
- The listing increased the Exchange’s market value by N250 billion.
The Fund for Export Development in Africa (FEDA) suggested plans develop a piece of Geregu Power Plc’s shares listed on the Nigerian Exchange Limited have been announced to the investing public by Geregu Power Plc (NGX).
“The conversations are now under progress, and where these discussions develop to a more advanced stage, the Company will notify the Exchange and the investing public of the requirements of the Exchange,” said Geregu Power’s company secretary, Akinleye Olagbende, in a signed statement.
By way of introduction, Geregu Power just became public on the Exchange’s Main Board.
Under the Utility sector and Electric Power Generation sub-sector of the NGX, with the trading symbol GEREGU, a total of 2.5 billion ordinary shares of Geregu Power were offered at N100 each. The listing increased the Exchange’s market value by N250 billion.