Custodian Investment Plc (NGSE:CUSTODIAN) made a mandatory takeover offer to acquire an additional 3.02% stake in UACN Property Development Company Plc (NGSE:UAC-PROP) from minority shareholders for NGN 31 million on May 18, 2021. The offer was made following the approval of the Securities and Exchange Commission. As reported, Custodian Investment Plc will acquire 34.4 million shares in UACN Property Development Company at a price of NGN 0.9 per share.

The offer is expected to open on May 31, 2021 and close on July 2, 2021.