Zenith Bank director acquires 1.7m units of shares

An executive director of Zenith Bank Plc, Dr Temitope Fasoranti, has acquired over 1.7 million units of the lender’s shares.

This was revealed in a corporate notice signed by the Company Secretary/General Counsel, Zenith Bank, Michael Otu, which was filed with the Nigerian Exchange Limited on Thursday.

Fasoranti bought the shares in different tranches and on different days earlier this month.

On Monday, Fasoranti bought one million units of Zenith Bank’s shares at an average price of N34.95 per unit.

The shares were bought in four tranches of 200,000 units at N34.80, 300,000 units at N34.90, 200,000 units at N35.00 and 300,000 units at N35.10.

On Tuesday, the ED bought an additional 750,000 units of the shares. They were bought in three tranches of 300,000 units at N34.70, 300,000 units at N34.80 and 150,000 units at N34.90 each.

The total value of the transactions stood at about N61.05m.

According to the half-year report of Zenith Bank Plc, Fasoranti was appointed ED on December 29, 2017.

As of June 2023, Fasoranti held 13,075,000 units directly.

Meanwhile, tier 1 banking stocks on Wednesday drove the Banking sector to a massive 5.01 per cent gain. The shares of Zenith Bank Plc alongside GTCO, United Bank for Africa, and AccessCorp recorded the biggest volume and highest value for the day, thus contributing to the overall bullish market performance.