{
  "id": 288621,
  "title": "Otedola acquires N18bn First HoldCo shares, deepens control",
  "url": "https://urgent.news/2026/08/08/otedola-acquires-n18bn-first-holdco-shares-deepens-control",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-08T01:32:08.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/otedola-acquires-n18bn-first-holdco-shares-deepens-control/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "Billionaire investor Femi Otedola has strengthened his control over First HoldCo Plc, a financial services group, by acquiring N18.11bn worth of shares in the company. Calvados Global Services Limited, a close associate of Otedola, bought 138,041,465 ordinary shares of First HoldCo Plc on August 6, 2026, at N131.20 per share, according to a regulatory filing with the Nigerian Exchange Limited. This transaction brings Otedola's total beneficial shareholding in the company to around 27.16 percent, making him the largest shareholder. The move comes amid First HoldCo's recapitalisation programme and signals strong institutional confidence in the company's future.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}