Otedola Buys More FBN Holdings Shares, Maintains Largest Shareholder Position

June 21, 2024
Femi Otedola Sells Geregu Shares After Plan To Acquire Transcorp Fails

Nigerian billionaire businessman, Femi Otedola, has bought more shares in FBN Holdings to consolidate his position as the largest shareholder in the company.

Otedola on Thursday, 20th June 2024, bought additional 546,674,034 shares through Calvados Global Services Limited, a company related to him.

Join our WhatsApp Channel

The shares were at N21.97 per share, all valued at N12.01 billion.

The billionaire investor was appointed chairman of FBN Holdings board of directors in January, coming two years after he became the largest shareholder in the company. Otedola had in December 2021, increased his stake to 7.57 per cent.

READ ALSO: Otedola, Ovia’s Zenith Bank Settle Out Of Court

With his new shares acquisition, Otedola is now the largest shareholder in FBN Holdings, surpassing Barbican Capital Limited, owned by Oba Otudeko, which has 3,110,400,619 direct shares.

Barbican Capital Limited was announced as the largest shareholder after Otedola’s appointment as chairman of the board.

The latest acquisition has increased Otedola’s direct and indirect equities holdings in FBN Holdings to 3,380,462,950 from 2,517,282,140 shares.

From 7.57 per cent in December 2021, he has increased it to 9.41 per cent shares in the FBN Holdings, all worth about N18.9 billion.

victor ezeja
Correspondent at  |  + posts

Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.

Victor Ezeja

Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.

Armenia Recognizes Palestine As State Amid Raging Gaza Conflict
Previous Story

Armenia Recognises Palestine As State Amid Raging Gaza Conflict

Biden Administration Bans Russian-made Cybersecurity Software Over National Security Concerns
Next Story

U.S. Bans Russian-made Cybersecurity Software Over Security Concerns

Featured Stories

Latest from Business

‘Rare Earths ‘Arms Race’ Will Define 2026’

The global scramble for rare earths and other critical minerals is accelerating, and financial advisory giant deVere Group believes it will be one of the defining investment themes of 2026 as the United States and China intensify their fight for control of the materials
Armenia Recognizes Palestine As State Amid Raging Gaza Conflict
Previous Story

Armenia Recognises Palestine As State Amid Raging Gaza Conflict

Biden Administration Bans Russian-made Cybersecurity Software Over National Security Concerns
Next Story

U.S. Bans Russian-made Cybersecurity Software Over Security Concerns

Don't Miss

South-east Traditional Rulers, Bishops Call For Law That Criminalizes Hate Speech, Ethnic Profiling

Southeast Bishops, Traditional Rulers Urge Tinubu To Stop Hate Speech, Ethnic Profiling Against Nigeria’s Igbos

The joint body of South-east Council of Traditional Rulers, and
7032500f peter obi

‘How Nigerian politicians trigger national crises’

Vice Presidential Candidate of the People’s Democratic Party (PDP) in