Awele Elumelu, the accomplished healthcare executive and wife of renowned businessman Tony Elumelu, has witnessed a significant surge in the market value of her shares in Transnational Corporation of Nigeria (Transcorp) over the past 71 days, as her stake surged above the $16-million mark.
Data tracked by Billionaires.Africa reveals that the market value of Awele Elumelu’s stake in Transcorp has increased by $6.91 million in the past 71 days, driven by the sustained increase in the shares of the leading conglomerate.
Transcorp is a leading Nigerian conglomerate with diversified investments spanning the hospitality, power, oil, and gas sectors. Its mission centers around elevating living standards, driving African transformation, and ensuring enduring value for its shareholders.
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.
Over the past 71 days, the market value of Awele Elumelu’s stake in the conglomerate has increased by N5.32 billion ($6.91 million), increasing from N7.45 billion ($9.68 million) on July 16 to N12.78 billion ($16.59 million) at the time of drafting this report.
This substantial $6.91-million surge in the market value of her stake can be directly linked to the impressive 71.39 percent surge in Transcorp’s share price on the Nigerian Exchange, climbing from N3.60 ($0.00467) on July 16 to N6.17 ($0.00801) at the time of this report.
The recent spike in the company’s shares follows a statement from Owen Omogiafo, Transcorp Group’s CEO, outlining the resolute ambition of achieving a 2,000-megawatt power capacity by the end of the year.
This recent surge in Awele Elumelu’s stake further solidifies her position as 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.
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.
