Femi Otedola, a Nigerian billionaire and chairman of FBN Holdings, has acquired an additional 2.22 percent stake in First Bank.
This was disclosed in a corporate filing with the Nigerian Exchange Group on Monday.
Now, with this latest purchase, Otedola’s shareholding in the bank has increased to 11.63 percent, solidifying his position as the largest shareholder.
However, this is coming four days after he regained his position as the majority shareholder of First Bank.
This was after acquiring ₦18.9 billion worth of the group’s shares on the Nigerian Exchange on Thursday.
Also Read: See Ways Otedola As Chairman Will Affect First Bank
Otedola acquired 316,506,776 shares at a share price of ₦21.91 each, amounting to ₦6.935 billion, and 546,674,034 shares at ₦21.97 each, amounting to ₦12.01 billion, through his holding company, Calvados Global Services Limited.
