Billionaire businessman and chairman of First Bank Nigeria Holdings Plc, Femi Otedola, has further solidified his majority stake by acquiring an additional 797,946,415 shares. This latest purchase, valued at N17.219 billion, brings his total shareholding to 11.63%.
Mr. Femi Otedola, billionaire businessman and chairman of First Bank Nigeria (FBN) Holdings Plc, has increased his stake in the company with the acquisition of an additional 797,946,415 shares. This move was executed through the Nigerian Exchange Limited (NGX) and valued at N17.219 billion, with each share priced at N21.58.
This latest acquisition, disclosed in a corporate filing on the NGX, brings Otedola’s total shareholding in FBN Holdings to 11.63%, making him the largest shareholder in the company.
Just last week, Otedola had increased his holdings by purchasing 546,674,034 shares valued at N12.01 billion. This purchase was made through Calvados Global Services Limited at a price of N21.97 per share.
Prior to these acquisitions, Otedola held a 7.01% stake in FBN Holdings. His recent purchases have now positioned him ahead of Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.
Otedola’s strategic acquisitions reflect his commitment to sustaining and increasing his influence in First Bank Nigeria Holdings, underscoring his significant role in the company’s future direction and governance.
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