Femi Otedola, chairman of First HoldCo, has acquired an additional 1.779 billion shares in the financial services group for about 222.2 billion naira. The shares were purchased through his investment vehicle, Calvados Global Services Limited, at 124.90 naira per share, according to a filing with the Nigerian Exchange.
The latest transaction increases Otedola’s holdings from about 9.99 billion shares to 11.77 billion, raising his stake from 21.96 per cent to 25.88 per cent. It is his second major share purchase in First HoldCo this month, following the acquisition of 706.13 million shares worth 77.58 billion naira on July 22.
Otedola’s total investment in First HoldCo is now estimated at about 1.47 trillion naira, making him the company’s largest individual investor.
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