Wole Oshin, a multimillionaire businessman and insurance mogul from Nigeria, has seen an increase in his stake in Custodian Investment Plc, one of the top investment firms in the country. His stake is now worth $18.9 million.
Custodian Investment, a Lagos-based investment organisation, established by Wole Oshin in 1991, has active operations in the Nigerian financial services sector, primarily through its insurance companies and also investments in the nation’s real estate sector.
The group, which is 26.54 percent owned by Oshin, now has total assets under management (AUM) in excess of $1.1 billion and is dedicated to continuously improving its operations while generating and securing wealth for its stakeholders.
It has significant investments in companies such Crusader Sterling Pensions Limited, UPDC Plc, Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees, and Custodian and Allied Insurance Limited.
Wole Oshin on making Custodian the 40th most valuable company
Investors continue to attentively monitor economic and financial statistics as well as the market attitude on the Nigerian Exchange (NGX).
As of Nov. 15, Custodian’s shares were trading at $0.0121 per share, unchanged from their opening price this morning.
Custodian, with a market value of $71.3 million at the current price level, is now the 40th most valuable business on the NGX, making up roughly 0.132 percent of the total market capitalization of the local exchange.
The investment group’s total share capital is valued at $71.3 million while Oshin’s holding is valued at $18.9 million making him one of the wealthiest investors on the local exchange.
Exactly 314 days ago on January 4, the investment group’s share price climbed above $0.017 a share, increasing the market value of his holding to nearly $28 million. His position in the company is now worth $9 million less than it did at that time.
Since January, Oshin’s ownership stake in Custodian has lost more than 32% of its market value, now at $18.9 million.
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