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 (NGX: FIRSTHOLDCO) 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) (NGX: NGXGROUP).

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.