CBO Capital, Blackman acquire stakes in Ellah Lakes

CBO Capital Partners Limited and Blackman & Company Limited have acquired stakes in Nigerian palm oil company, Ellah Lakes.

Ellah Lakes disclosed this in a note to its existing shareholders and the investing public on Thursday.

CBO Capital and Blackman & Company acquired the shares in series last month.

The Nigerian Stock Exchange (NSE) said in a statement that CBO Capital acquired 26,369 shares in Ellah Lakes.

CBO Capital acquired the shares in four batches – 5,500 shares at N3.48kobo per share in January 19 and another set of 4,500 shares was purchased at N5.19kobo per share two days later.

The company also acquired 10,000 shares and 6,369 shares at N4.25kobo per share each on January 22.

Blackman & Company also bought 16,052 shares in two batches from Ellah Lakes.

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The company acquired 6,052 shares at N4.25kobo per share on January 20 and another 10,000 at N4.25kobo per share 24 hours later.

This put the total value of shares bought by CBO Capital at N112,000 while Blackman & Company’s value was pegged at N68,200.

According to NSE, Ellah Lakes has outstanding shares of 2 billion.

Based on its market capitalisation, the company is worth N8.5 billion.

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