Femi Otedola, Chairman of First HoldCo, has acquired 147.74 million additional shares in the financial services group for about N20.68 billion through his investment vehicle, Calvados Global Services Limited.
According to a filing with the Nigerian Exchange (NGX), the shares were purchased at N140 each on August 14, increasing Otedola’s stake from 26.1% to 26.4%.
The latest acquisition comes less than two weeks after he purchased another 138.04 million shares worth about N18.11 billion.
Otedola has previously said he had invested more than N600 billion of his personal wealth in the bank, describing it as a long-term commitment.
“My investment threshold is always over and above 51 percent,” Otedola had said, signalling his preference for majority ownership.
First HoldCo’s share price recently reached an all-time high of N140, pushing its market capitalisation to about N6.37 trillion.
Source: NGX regulatory filing
