Femi Otedola has bought another 1.779 billion shares in First HoldCo, the parent company of First Bank, spending N222.209 billion to push his stake in the financial group to about 26 percent.
The shares were acquired at N124.90 each through Otedola’s investment vehicle, Calvados Global Services Limited, according to a statement signed by company secretary Abiola Baruwa and filed with the Nigerian Exchange Limited, NGX, on Thursday.
The purchase lifts Otedola’s direct shareholding from 9.99 billion to 11.77 billion shares. Combined with his indirect holdings, his total stake climbed from 21.96 percent to roughly 26 percent.
This marks Otedola’s second major buy in First HoldCo this month. On July 22, he acquired 706.13 million shares worth N77.58 billion.
His total investment in the financial group now stands at N1.47 trillion as of Thursday, the largest holding by any single investor in the institution.
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