Femi Otedola Increases Stake in First HoldCo to Over 18% with N14.8bn Share Purchase

Billionaire investor Femi Otedola has raised his ownership in First HoldCo Plc to 18% by acquiring additional shares valued at N14.8 billion. The transaction was disclosed in a notice signed by Abiola Baruwa, the Group Company Secretary, and filed with the Nigerian Exchange Group (NGX).

Otedola purchased 369,986,122 shares of First HoldCo at N40.06 per share on December 18, marking a series of purchases in recent months. Oluwatosin Ogunjuyigbe, a writer and journalist, covered the business aspect of the acquisition.