Otedola Acquires N12.58 Billion Stake in First HoldCo
Femi Otedola, the Chairman of First HoldCo Plc, has enhanced his investment in the financial services group by acquiring an additional 95.7 million ordinary shares valued at N12.58 billion. This transaction was reported in a regulatory filing to the Nigerian Exchange (NGX) on Monday, signed by Group Company Secretary Abiola Baruwa.
The shares were purchased through Calvados Global Services Limited, Otedola’s investment vehicle, at a price of N131.48 per share on August 24, 2026. Following this acquisition, First HoldCo's shares closed at N127.90 on Monday, reflecting a year-to-date gain of 162.09%.
Otedola's total shareholding in First HoldCo is now estimated at approximately N1.56 trillion. This latest acquisition follows a series of significant purchases, including 147.74 million shares for N20.68 billion and 138.04 million shares for N18.11 billion earlier in August.
Otedola aims to build a controlling stake of more than 51% in First HoldCo, which has shown strong performance on the NGX in 2026.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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