According to a corporate notice filed with the Nigerian Exchange Limited on Monday, the shares were sold between N0.48k and N0.49k per unit.
At the close of trading session on Monday, the stocks of Mutual Benefits emerged as the most actively traded stock in terms of volume with 42.08 million units worth N20.36m changing hands in 47 deals.
For days, the insurance firm has been seeing increased activities in its shares on the NGX.
The unaudited half-year statement of Mutual Benefits revealed that Charks Investment Limited held 254,222,285 units of its shares representing 1.27 per cent. The sell-off of shares will reduce its shareholding in the insurance firm.
As of June 30, 2023, Mutual Benefits had 20,061,622,397 (Dec 2022: 20,061,622,397 ) ordinary shares of 50k each, with the majority of it held by Charles Enterprises LLC, 42.27 per cent, followed by Arubiewe Farms Limited, which held 4,409,119,444, representing 21.98 per cent.
Meanwhile, the local bourse commenced the week in positive territory as the benchmark index recorded slight gains of 0.02 per cent to close at 72,404.91 points as investors cherry-picked stocks with attractive prices on Monday.
As a result, the local bourse’s year-to-date gain climbed to 41.28 per cent, although the Exchange printed 33 losers as against 18 gainers.
Performance across sub-sector gauges tracked was mildly bullish, as three of the five indices tracked closed in the green zone: the NGX Banking, NGX Oil/Gas and NGX Industrial Goods indexes rose by 0.07 per cent, 0.09 per cent, and 0.03 per cent, respectively. On the flip side, the NGX Insurance and NGX Consumer Goods indexes nosedived by 1.30 per cent and 0.09 per cent, respectively.
