Femi Otedola has spent about ₦222.2 billion on First HoldCo shares, raising his interest in the Nigerian financial group to 25.88%.
Femi Otedola has spent about ₦222.21 billion on another block of First HoldCo shares, lifting his interest in the Nigerian financial group to 25.88%.
The purchase was made through Calvados Global Services Limited, a company related to Otedola, who is First HoldCo’s chairman and a significant shareholder.
Calvados acquired 1,779,094,976 ordinary shares at ₦124.90 each. Multiplying the disclosed price by the volume gives a consideration of approximately ₦222.21 billion, or about $160 million at recent exchange rates.
The latest deal raises Otedola’s combined holding from about 9.99 billion shares, or 21.96%, to roughly 11.77 billion shares, or 25.88% of the company.
