Primrose Investment Limited, has purchased N65.270 million worth of shares from Nigeria’s tier -2 financial institution First City Monument Bank Babk (FCMB) Plc
The Real Estate and property development company, bought a total of 21,123,071 units of shares at N3.09 Kobo per shader, amounting to N65.270 million.
FCMB’s company secretary, Olufunmilayo Adedibu, stated this in a disclosure on Monday.
Primrose Investment Limited had also in December 2020 bought 20 million units of FCMB shares worth N66.6 million.
With the fresh additional purchase, the two tranches of stocks are at 41.125 million units of shares, representing less than one percent of the bank’s 19,802,710,754.00 outstanding shares.
As at Tuesday, FCMB’s shares are currently trading at N3.05 Kobo per share on the floor of the Nigerian Exchange Limited (NGX).
Primrose is a property development company whose roots as real estate developers stretch back over thirty years to its progenitor organizations, Primrose Properties Investment Limited (PPIL) and City Securities Limited.
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