Jim Ovia, Chairman, Zenith Bank, Nigeria speaking during the session Delivering the Promise of Africas Youth at the World Forum World Economic Forum on Africa 2019. Copyright by World Economic Forum / Benedikt von Loebell
Jim Ovia, the chairman of Zenith Bank Plc, has sold some of his shares in the financial institution.
The shares, valued at N67.2 million, were held indirectly through Quantum Zenith Securities, a company through which he holds indirect stakes in the bank.
According to the transaction notice filed with the Nigerian Exchange Group (NGX) on Wednesday, Ovia sold a total of 1,450,000 Zenith Bank shares through Quantum Zenith Securities on the exchange.
Before the transaction, the banker held 1,529,851,344 indirect shares through Institutional Investors Ltd, Lurot Burca Ltd, Jovis Nigeria Ltd, Veritas Registrars Ltd, and Quantum Zenith Securities Ltd.
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Following the sale, Ovia’s total indirect shareholding in Zenith Bank dropped to 1,528,401,344 units.
The shares were sold at N46.1 each for 250,000 units on June 10; N50.9 each for 700,000 units on June 16, and N44.5 each for 500,000 units on June 17 — amounting to N67,245,000 in value.
After Ovia’s transaction, Adaora Umeoji, the chief executive officer (CEO) of Zenith Bank, bought 68,754,077 units of shares at N47.95 each, valued at N3.29 billion.
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