Awele Elumelu, the accomplished healthcare executive and wife of renowned businessman Tony Elumelu, has witnessed a significant decline in the market value of her shares in Transnational Corporation of Nigeria (Transcorp) over the past six days, as her stake slumps below the $10-million mark.
Data tracked by Billionaires.Africa reveals that the market value of Awele Elumelu’s stake in Transcorp has declined by more than $2.6 million in the past six days, as shares in the leading conglomerate suffered a significant pullback after reaching an all-time high of N4.7 ($0.00605) per share.
With the acquisition of an additional 7.3 million shares in Transcorp in June, Awele Elumelu’s total holdings in the company now stand at an impressive 2,070,794,804 shares. This solidifies her position as a key player in the Nigerian equity market and consolidates her family’s position within the conglomerate and the Nigerian business landscape.
However, after recording some early gains from her stake, the tides have turned sharply as Transcorp shares suffered a significant pullback on the Nigerian Exchange. Wary investors booked profits after the company’s shares surged to an all-time high price of N4.7 ($0.00605) per share at the end of the trading session on Tuesday, July 11.
Since then, the company’s shares have declined by over 21 percent, falling from a price of N4.7 ($0.00605) per share on July 11 to its current price of N3.71 ($$0.0048) at the close of trading activities on the Nigerian Exchange on Mon., July 17.
As a result of this recent pullback, the market value of Awele Elumelu’s stake in Transcorp has now declined by N2.05 billion ($2.64 million), from N9.73 billion ($12.54 million) on July 11, exactly six days ago, to N7.68 billion ($9.89 million) at the time of writing.
Despite the staggering $2.64-million slump in the market value of her stake in Transcorp, Awele Elumelu remains one of the top investors on the Nigerian Exchange. Her prominence extends beyond her investments in Transcorp, as she has made significant contributions to the healthcare sector.
Serving as the chairperson of Avon Healthcare Limited and the CEO of Avon Medical Services Limited, Awele Elumelu exhibits exemplary leadership and expertise in medicine, surgery, pediatrics, obstetrics and gynecology, and emergency medicine.
Her career highlights include valuable contributions to the prestigious Lagos University Teaching Hospital and international experience at Grantham and District Hospital in the United Kingdom.
