Otedola acquires N18bn First HoldCo shares, deepens control
Femi Otedola has acquired an additional N18bn in First HoldCo shares, solidifying his control and increasing his stake to 27.16%. Read More: https://punchng.com/otedola-acquires-n18bn-first-holdco-shares-deepens-control/
Nigerian billionaire investor Femi Otedola has increased his controlling stake in financial services group First HoldCo Plc through a significant share purchase. An insider transaction valued at N18.11 billion saw Calvados Global Services Limited, tied to Otedola, buy 138,041,465 ordinary shares of First HoldCo Plc on August 6, 2026.
Executed at N131.20 per share, the transaction increased Otedola's beneficial ownership to approximately 27.16 percent of the company's shares. This marks Otedola's third major equity acquisition in less than three weeks. The purchase aligns with First HoldCo's recapitalisation programme and signals strong institutional confidence in the company's future and Otedola's long-term commitment to its success.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
