Femi Otedola's Amperion sells 4.29m shares of Geregu in cross deal worth N4.4bn

Amperion Power Distribution Company Limited, a company owned by billionaire businessman Femi Otedola, had sold 4.296 million shares in Geregu Power Plc.

The transaction disclosed at the Nigerian Exchange Limited (NGX) was through a cross-deal share sale.

Amperion has been described as Otedola’s investment vehicle for Geregu Power, which Otedola’s shares are held through.

Otedola uses Amperion as a vehicle for his stake in Geregu Power Plc, where he is the chairman.

Geregu Power Plc, Nigeria’s first listed power generation company, recorded its highest net profit in more than five years buoyed by a stronger revenue, despite widening finance costs.

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The company’s revenue surged to N131.4 billion in 9M’25, up from N112 billion reported in the same period last year, with 65 percent of the total amount from energy sales.

A breakdown of the total revenue made during the period revealed that energy sold rose to N85.5 billion, up from N71.4 billion, while the capacity charge rose to N45.9 billion.

The increase impacted the power-generating firm’s after-tax profit by 4.1 percent, to N25.1 billion from N24.1 billion.

The cross deal by Amperion done on November 11 was at price of N1,027.4 per share. The deal is valued at N4.4 billion. Geregu Power shares price closed at N1,141.50 as at Friday.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.