Otedola increases First HoldCo stake with fresh N12.58 billion share acquisition
Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial services group following the acquisition of an additional 95.7 million ordinary shares valued at N12.58 billion. The post Otedola increases First HoldCo stake with fresh N12.58 billion share acquisition appeared first on Nairametrics .
Femi Otedola, Chairman of First HoldCo Plc, has expanded his ownership stake in the financial services group after purchasing an additional 95.7 million ordinary shares valued at N12.58 billion. The transaction, disclosed in a regulatory filing to the Nigerian Exchange, was facilitated by Otedola's investment company, Calvados Global Services Limited.
The shares were bought at N131.48 per share on August 24, 2026, bringing the company's closing price to N127.90 per share, marking a year-to-date increase of 162.09%. With the latest acquisition, Otedola's total shareholding in First HoldCo is estimated to be worth approximately N1.56 trillion. This move follows a series of significant share purchases by Otedola in recent months, including a recent acquisition of 147.74 million shares valued at N20.68 billion and another of 138.04 million shares worth N18.11 billion.
In July, Otedola made two large acquisitions, buying 1.779 billion shares valued at N222.2 billion and 706.13 million shares worth N77.6 billion. These transactions demonstrate his strategy to increase his influence within the financial services group. The recent purchase also follows Otedola's announcement of his intention to acquire a controlling stake of more than 51% in First HoldCo.
Currently, First HoldCo ranks among the top performers on the NGX in 2026, buoyed by renewed investor confidence, strong market momentum, and anticipations surrounding the group's ongoing transformation strategy.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
