Atedo Peterside’s position in Stanbic IBTC Holdings (Stanbic IBTC) has dropped in value by N1.39 billion in recent months.
Businessman’s interest in Stanbic IBTC has dropped by N1.39 billion in just 12 days due to a double-digit percent drop in the group’s shares on the Nigerian Exchange.
Between August 31 and September 25, the market value of his holding in Stanbic IBTC increased from N8.68 billion to N10.42 billion.
Stanbic IBTC, one of Nigeria’s leading financial services groups, has a total asset value of more than $5.9 billion and a market capitalization of more than $1.1 billion.
Peterside, the founder of Anap Business Jets Limited and the Atedo N. A. Peterside Foundation and a significant person in the Nigerian banking industry, owns a 1.14 percent ownership in Stanbic IBTC, which corresponds to 133,611,115 ordinary shares in the business.
Stanbic IBTC’s shares on the Nigerian Exchange have dropped 13.06 percent in recent weeks, going from N80 ($0.105) on Oct. 9 to N69.55 ($0.091) at the time of writing. This decline has reduced the group’s market capitalization to less than $1.2 billion.
The market value of Atedo Peterside’s investment has declined by N1.39 billion ($1.83 million) as a result of the double-digit slump in Stanbic IBTC’s shares, falling from N10.69 billion ($13.99 million) on Oct. 9 to N9.29 billion.
Despite this recent decrease, the Nigerian businessman and multimillionaire banker remains one of the country’s wealthiest businessmen and one of the most wealthy investors on the Nigerian Exchange.
