Report: $100,000 investment in Femi Otedola’s firm 6 months ago is now worth $320,000

Geregu Power, a leading power-generating company majority owned by Nigerian billionaire businessman and philanthropist Femi Otedola, has experienced robust growth on the Nigerian Exchange (NGX) since its initial public offering six months ago.

Bolstered by unwavering demand from retail and institutional investors, the company’s shares have soared by an impressive 223 percent on the NGX since debuting on Oct. 5, 2022. Since its listing, the company’s stock price has increased from N100 ($0.217) to N323 ($0.702) according to Billionaire Africa.

This surge in the company’s shares has resulted in substantial profits for early investors and shareholders, and with a market capitalization that has now surpassed $1.7 billion, Geregu Power Plc ranks as the seventh most valuable company on the NGX.

Investors who seized the opportunity to invest in Geregu Power on the Nigerian Exchange (NGX) when its shares went public six months ago would now be witnessing a remarkable 119-percent growth in their investment in just a brief period of time.

A $100,000 (N46.04 million) investment in Geregu Power when it was listed on the NGX is currently valued at $323,004 ($148.7 million), which is $223,000 (N102.6 million) more than the initial investment.

In the past six months, Geregu Power’s market capitalization has risen by N557.5 billion ($1.21 billion), from N250 billion ($543 million) on Oct. 5, 2022, to N807.5 billion ($1.75 billion).