LAGOS, Nigeria (VOICE OF NAIJA)-Nigerian billionaire Femi Otedola, Chairman of FBN Holdings, has increased his stake in First Bank by an additional 2.22 percent.
This information was revealed in a corporate filing with the Nigerian Exchange Group on Monday.
With this latest purchase, Otedola’s shareholding in First Bank has risen to 11.63 percent, reinforcing his status as the largest shareholder.
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This acquisition comes just four days after he reclaimed his position as the majority shareholder of First Bank by purchasing N18.9 billion worth of the group’s shares on the Nigerian Exchange last Thursday.
Through his holding company, Calvados Global Services Limited, Otedola acquired 316,506,776 shares at N21.91 each, totaling N6.935 billion, and 546,674,034 shares at N21.97 each, totaling N12.01 billion.
More details to follow…