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/
Billionaire Femi Otedola has increased his stake in First HoldCo Plc through a N20.7 billion share purchase. The transaction, executed on August 14, involved acquiring an additional 147.74 million shares at N140 per share via Calvados Global Services Limited, an investment arm linked to the tycoon. This latest acquisition brings Otedola's disclosed share purchases in First HoldCo to over N400 billion this year, as per reports from seasoned journalist Jide.
The financial services group's chairman has been methodically building his position in the company, with targets to surpass 51% ownership. His buying spree intensified in the second half of the year, with major purchases in May, June, July, and August. Otedola's strategic accumulation is drawing attention from investors as he aims to secure majority control of First HoldCo.
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