Atedo Peterside, a Nigerian businessman and prominent investment banker, has seen a significant increase in the market value of his interest in Stanbic IBTC Holdings (Stanbic IBTC), one of Nigeria’s biggest financial services holding businesses.
Since August 31, Peterside’s investment has climbed by N1.74 billion ($2.3 million), thanks to a double-digit percentage gain in the group’s shares on the Nigerian Exchange.
This amazing recovery follows a $1.2 million loss in his Stanbic IBTC position between August 1 and August 31. During that time, his stake’s market value fell from N9.3 billion ($11.9 million) on August 1 to N8.4 billion ($10.9 million).
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 $1.3 billion.
Atedo Peterside, the founder of Anap Business Jets Limited and the Atedo N. A. Peterside Foundation and a significant actor 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 climbed by 20% since August 31, rising from N65 ($0.085) on August 31 to N78 ($0.102) at the time of writing.
The lender’s share price has recently risen due to renewed investor interest, boosting its market value past $1.3 billion and securing its place as the ninth most valuable firm on the Nigerian Exchange.
The market value of Atedo Peterside’s investment has climbed by N1.74 billion ($2.3 million) as a result of the double-digit increase in Stanbic IBTC’s shares, rising from N8.68 billion ($11.44 million) on Aug. 31 to N10.42 billion ($13.73 million) at the time of writing.
This recent increase in Peterside’s ownership strengthens his status as one of the country’s wealthiest bankers, cementing his reputation as a key participant in the country’s financial scene.