Onyeali-Ikpe Acquires Additional N366.3m Worth of Fidelity Bank Shares

Kayode Tokede

The Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, has increased her stake in the bank by acquiring an additional 18 million units’ shares, valued at N366.3million.

The shares were purchased in a transaction on May 19, at a price of N20.35 per share on the Nigerian Exchange Limited (NGX).

Amid the announcement, the stock price of Fidelity Bank dropped to N19.00 per share Tuesday from N20 per share it opened for trading.

Towards the end of November 2024, Onyeali-Ikpe increased her stake in the bank by acquiring an additional 10 million shares, valued at N157.9 million.

The shares were purchased in two separate transactions between November 26 and 27, at an average price of N15.79 per share. 

Onyeali-Ikpe acquired 6 million units at N15.95 per share and an additional four million units at N15.55 per share.

This move follows a previous acquisition where she bought 15 million shares in Fidelity Bank between November 21 and 22, 2024, valued at N239.4million. 

The purchase, which forms part of an insider trading notification, was disclosed in accordance with the NGX’s regulatory requirements for share dealings by directors of listed companies.