• Monday, July 22, 2024
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Femi Otedola stakes additional N183m in FBN Holdings shares

Nigerian business mogul Femi Otedola back to Forbes billionaire list

Femi Otedola has acquired additional 1,228,141 shares of FBN Holdings Plc at N20.30kobo per share. He also acquired 7,965,198 shares of FBN Holdings at N19.90kobo through Calvados Global Services Limited, a company related to him.

Both transactions were done on Tuesday June 25, according to FBN Holdings in a notification of share dealing by insiders. Otedola’s latest acquisitions make him the only shareholder of the Holding company with a total shareholding of over 10percent.

Read also: Otedola increases stake in FBN Holdings to 11.64%

The billionaire businessman had earlier increased his equity stake in FBN Holdings Plc to 11.64 percent following shares transaction he did on Monday June 24 valued at N17.2 billion. Otedola had acquired additional 797,946,415 shares of the company at an average price of N21.58, according to FBN Holdings notice of shares dealing by insiders filed at the NGX. FBN Holdings in January appointed Otedola as the chairman of its board of directors.

As the chairman of FBN Holdings, he had last week bought 546,674,034 shares through Calvados Global Services Limited, a company related to him. The billionaire businessman bought the shares of FBN Holdings on June 20 at N21.97 per share, all valued at N12.01 billion.

Read also: Otedola stakes N18.9bn to consolidate position as FBNH largest shareholder

His appointment came two years after the billionaire became the firm’s single largest shareholder in December 2021, when he increased his stake to 7.57 percent.

FBN Holdings had after Otedola’s appointment named Barbican Capital Limited as its majority shareholder — making Otedola the second major shareholder at the time. According to the corporate disclosure, Otedola had also paid N21.91 per share for 316,506,776 shares, all valued at N6.935billion.