Femi Otedola, chairman of First HoldCo Plc, has increased his stake in the financial services group to near 26 per cent after acquiring 1.78 billion additional shares worth about ₦222.20 billion.
In a regulatory filing on Thursday, First HoldCo disclosed that Mr Otedola, through Calvados Global Services Limited, purchased 1,779,094,976 ordinary shares at ₦124.90 per share. The new share purchase represents 3.91 per cent of the company’s outstanding shares.
Following the transaction, Mr Otedola’s total holding in the banking group rose to about 11.8 billion shares, which is equivalent to 25.86 per cent of the company’s issued share capital.
Based on the company’s share price of ₦122.95 as of 11:24 a.m. (WAT) on 30 July, Mr Otedola’s stake is valued at about ₦1.45 trillion.
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