The Chairman of Zenith Bank, Jim Ovia, has increased his stake in the lender with the acquisition of an additional two million shares at a cost of N66 million.
The bank disclosed this through a statement sent to the Nigeria Exchange Group (NGX) on Friday.
Ovia, according to the statement, acquired shares through his investment company, Quantum Zenith Securities Limited on September 20 to increase his stake in the bank from 16.18 percent to 16.19 percent.
This also increased the total shares he holds in Zenith Bank from 5.081 million to 5.083 million.
Ovia’s current investment in the lender is valued at N159.10 billion.
The investment banker has total direct shares of 3.55 billion and indirect shares of 1.53 billion in Zenith Bank.
He holds indirect shares through Institutional Investors Limited, Lurot Burca Limited, Jovis Nigeria Limited, Veritas Registars Limited, and Quantum Zenith Securities Limited.
Ovia has been increasing his stake in Zenith Bank since 2021 when he held a total of 5.07 billion shares.
At the time, his investment was valued at N121.78 billion.