Nexamont Acquires 21.4% Stake in Royal Exchange Plc

Nexamont has acquired a 21.4% equity stake in Royal Exchange Plc, as announced by OOT Nominees, the Company Secretary of Royal Exchange. The acquisition was made through the secondary market, with Nova Finance Securities Limited serving as the financial adviser.

This stake acquisition represents a significant investment by Nexamont in Royal Exchange, exceeding the minimum threshold required for equity ownership. The disclosure to the Nigerian Exchange Limited highlights Nexamont's strategic move to become a substantial shareholder in Royal Exchange Plc, a notable player in the financial sector.

The transaction underscores Nexamont's interest in expanding its portfolio and influence within the Nigerian market.