Billionaire businessman and Chairman of First Bank Nigeria (FBN) Holdings Plc, Femi Otedola, has acquired an additional 797,946,415 units of the company’s shares through the Nigerian Exchange Limited (NGX).
The transaction, disclosed in a corporate filing on the NGX, saw the shares traded at N21.58 per share, amounting to a total value of N17.219 billion.
This new acquisition raises Otedola’s shareholding in FBN Holdings to 11.63%, making him the largest shareholder in the company.
Just last week, Otedola increased his stake by purchasing 546,674,034 units of shares valued at N12.01 billion through Calvados Global Services Limited at N21.97 per share.
Before these recent acquisitions, Otedola held a 7.01% stake in the bank, trailing behind Oba Otudeko’s Barbican Capital Limited, which held an 8.67% stake.
