Otedola boosts First Holdco stake with N20.7bn share purchase
Femi Otedola expands his investment in First Holdco Plc with a N20.7bn share purchase, bringing his total disclosed acquisitions to over N400bn. Read More: https://punchng.com/otedola-boosts-first-holdco-stake-with-n20-7bn-share-purchase/
Nigerian billionaire Femi Otedola has significantly expanded his stake in First HoldCo Plc by purchasing an additional 147.74 million shares, amounting to N20.7 billion. The investment, executed on August 14 through Calvados Global Services Limited, is the latest in a series of major acquisitions Otedola has made in First HoldCo this year, raising his disclosed share purchases to over N400 billion.
Otedola, who chairs First HoldCo, has been steadily increasing his ownership and has publicly expressed a desire to surpass a 51% stake. His buying spree intensified in the second half of the year, with purchases totaling N20.7 billion in May, N29.6 billion in June, N77.58 billion in July, and a record N222.21 billion in August.
The sum of these disclosed purchases for 2026 amounts to approximately N412 billion. Otedola's aggressive accumulation has garnered attention from investors, as his ownership position becomes increasingly prominent in First HoldCo amidst the company's share price rally.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
