Femi Otedola Sells Geregu Shares After Plan To Acquire Transcorp Fails

Otedola Buys More FBN Holdings Shares, Maintains Largest Shareholder Position

1 month ago
1 min read

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.

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.


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