Otedola buys additional 2.22% shares as stakes in FBN Holdings

Femi Otedola, billionaire businessman and chairman of FBN Holdings Plc, on Monday acquired an additional 797,946,415 units of First Bank Nigeria, FBN Holdings Plc shares from the Nigerian Exchange Limited, (NGX), to sustain its majority stake in the company.

The acquisition was disclosed in a corporate filing on the NGX, as the shares were traded at N21.58 per share valued at N17.219 billion, representing 2.22 percent increase in shareholding.

The fresh acquisition further shows that Otedola ‘s shareholding has now reached 11.63 percent, the highest in the company.