Otedola raises First HoldCo stake with N20.7 billion share purchase
Billionaire investor and Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial services group after acquiring an additional 147.74 million ordinary shares valued at N20.68 billion. The post Otedola raises First HoldCo stake with N20.7 billion share purchase appeared first on Nairametrics .
Nigerian billionaire investor Femi Otedola has significantly increased his stake in First HoldCo Plc by purchasing an additional 147.74 million ordinary shares, valued at N20.68 billion. The transaction was facilitated by Otedola's investment vehicle, Calvados Global Services Limited, as per a regulatory filing submitted on August 17, 2026, to the Nigerian Exchange.
The acquisition was made on August 14, 2026, at N140 per share, reflecting First HoldCo shares' trading at N140 on the same day, representing a year-to-date gain of approximately 192.3%. This latest investment marks the most recent acquisition in a series of substantial investments Otedola has made in the financial services group.
Otedola now owns more than one-quarter of the share capital in Nigeria's oldest banking group, following a series of significant investments.
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