CWG Plc has recorded a significant off-market block trade valued at N8.98 billion, executed on Tuesday, May 12, 2026. The transaction involved 429,664,606 shares of the company, brokered by Cordros Securities Ltd, which acted on both the buy and sell sides in a structure known as a negotiated cross deal.
The block trade was executed at a unit price of N22.00 per share, slightly above the prevailing market price of N21.50. This volume represents approximately 17% of CWG Plc’s total issued share capital of 2.52 billion shares. It is one of the largest single-ticket off-market trades in the Nigerian Exchange (NGX) technology sector in recent memory.
The scale of the transaction has sparked speculation in market circles about whether a new strategic investor has taken a significant position in the pan-African ICT company. However, a senior dealing member of the NGX, familiar with the transaction, told Nairametrics exclusively that no new money, no new investor, and no strategic acquisition is involved. The insider, who spoke on condition of anonymity, declined to disclose details of the investor, citing lack of permission to do so. He confirmed the trade was executed at or very close to the prevailing best market price and was completed as a single block rather than through the open order book.
In Nigerian capital market practice, a “book over” or intra-investor portfolio transfer involves moving securities from one investment vehicle or account to another under the same beneficial ownership. This suggests the transaction may be a portfolio rebalancing rather than a change in economic ownership.
CWG Plc began the year with a share price of N18.00 and has since gained 16.7% on that valuation, ranking it 76th on the NGX in terms of year-to-date performance. The company, also known as Computer Warehouse Group, delivered a strong FY 2025 performance, with revenue rising 41.7% to N65.66 billion and net profit surging 84.2% to N5.61 billion. Earnings per share settled at N2.22.
Although no new economic ownership has changed hands, a substantial shareholder disclosure obligation is expected to be triggered by this transaction. Meanwhile, other notable developments in the financial landscape include Busha unveils new identity, Futa withdraw certificates, Chelsea manager Maresca, and USA exhibition: Christmas comes. Additionally, the naira strengthens N1,424.5/$ in recent trading sessions.
Kelechukwu Mgboji, a Bloomberg-certified (BMIA) financial journalist with extensive experience covering Nigeria’s financial markets, provided expert analysis on this transaction. He is known for analytical depth and clarity in translating complex economic and financial markets data into actionable insights.
