Nigeria’s Stanbic shares traded in block deal worth about $195m

Some 1.14 billion shares of Stanbic IBTC Holding were sold at 53.75 naira each the stock exchange said on Friday in a block deal valued at about $195 million.

The deal was negotiated trade between seller Rencap Securities Ltd and buyer Stanbic IBTC Stockbrokers Ltd. Stanbic IBTC Holding’s shares closed at 46.60 naira.

Stanbic IBTC, is the local subsidiary of South Africa’s Standard Bank.