Otedola Boosts FirstHoldCo Stake with N43.4 Billion Purchase
Femi Otedola has strengthened his stake in FirstHoldCo Plc with a substantial investment of N43.4 billion, acquiring 549,535,653 ordinary shares at N79 per share. This acquisition, disclosed on May 13, 2025, increases his total holdings to approximately 8,055,314,486 shares.
The investment comes at a time when FirstHoldCo announced an impairment charge of N826.3 billion for the 2025 financial year, marking a 94% increase from N426.29 billion in 2024. The group's operational expenses rose to N1.2 trillion in 2025, a 32.1% increase from N934.16 billion in 2024.
The company reported a profit before tax of N220.28 billion for 2025, a decline of 72% from N781.88 billion in 2024. Additionally, FirstHoldCo appointed Dr. Julius Omodayo Owotuga as Executive Director effective May 13, 2026, aiming to enhance leadership and financial governance.
Otedola's aggressive accumulation of shares signals his confidence in the company's future amidst market volatility.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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