Stanbic Africa Holdings Limited (SAHL) has increased its equity holdings in Stanbic IBTC Holdings Plc (NGX: STANBIC) via the acquisition of shares of the company worth over N53 million. SAHL is the majority shareholder of STANBIC.
1,362,606 shares were purchased by SAHL on September 22, 2021, according to a Notification of Share Dealing by Insiders published on the Nigerian Exchange.
The purchase was made at an average price of N39.00 per share.
As at June 30, 2021, Stanbic Africa Holdings Limited held 7,443,450,299 shares of Stanbic IBTC Holdings Plc, representing 67.02% shareholding and an increase from the 6,926,544,029 (65.94%) held as at June, 30, 2021.
This purchase will increase the company’s shareholding in Stanbic IBTC Holdings Plc to 7,444,812,905, if the position remained unchanged.
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Stanbic Africa Holdings Limited, incorporated in the United Kingdom is a subsidiary of Standard Bank Group which is incorporated in South Africa.
According STANBIC’s H1 2021 financial statements, as at 30 June 2021, no shareholder held more than 5% of the issued share capital of the company except Stanbic Africa Holdings Limited.
The equity price of STANBIC closed flat at N39.00 per share on Friday at the Nigerian Exchange.
Stanbic IBTC Holdings Plc has 9 direct subsidiaries and 2 indirect subsidiaries.
Direct subsidiaries and % holding
- Stanbic IBTC Bank PLC, 100%
- Stanbic IBTC Ventures Limited (“SIVL”), 100%
- Stanbic IBTC Capital Limited 100%
- Stanbic IBTC Asset Management Limited (“SIAML”), 100%
- Stanbic IBTC Pension Managers Limited (“SIPML”), 88.24%
- Stanbic IBTC Insurance Limited (“SIIL”), 100%
- Stanbic IBTC Stockbrokers Limited (“SISL”), 100%
- Stanbic IBTC Trustees Limited (“SITL”), 100%
- Stanbic IBTC Insurance Brokers Limited (“SIIBL”),* 75% *
Stanbic IBTC holdings owns additional 25% indirect shares in Stanbic IBTC Insurance Brokers Limited (“SIIBL”)
Indirect subsidiaries are Stanbic IBTC Financial Services Limited, and Stanbic IBTC Nominees Limited
Stanbic IBTC Holdings PLC is related to other companies that are fellow subsidiaries of Standard Bank Group Limited. These include Standard Bank Isle of Man Limited, Standard Bank of South Africa (SBSA), Stanbic Bank Ghana Limited, CfC Stanbic Bank Kenya Limited, Stanbic Bank Botswana, Stanbic Bank Uganda Limited, and Standard Bank (Mauritius) Limited. ICBC Standard Bank PLC, which is an associate of Standard Bank Group Limited, is also a related party.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.