Otedola Regains His Position as the Majority Shareholder of First Bank
Femi Otedola, billionaire businessman and chairman of FBN holdings, has regained his position as the majority shareholder of First Bank.
According to corporate filings on the Nigerian Exchange Group (NGX) on Thursday, Otedola now owns 9.41 percent shares in the bank.
This became possible after he purchased the group’s shares valued at N18.9 billion.
According to the corporate filings, the billionaire paid N21.91 per share or N6.935 billion for 316 million, 506 thousand and 776 shares.
He then bought an additional 546 million, 674 thousand and 34 shares through calvados global services limited, his holding company, for N21.97 per share — totaling N12.01 billion.
The fresh acquisition has increased Otedola’s shares (direct and indirect) in FBN holdings to three billion, 380 million, 462 thousand and 950 — from 2 billion, 517 million, 282 thousand and 140 shares.
Read Also:
Dangote Refinery Accuses Foreign Oil Firms in Nigeria of Starving It of Crude Oil
The Thursday acquisition helped Mr Otedola, who is the chairman of FBN Holdings’ board of directors, regain his position as the biggest shareholder, having lost the coveted honour last year to Barbican Capital Limited in which Obafemi Otudeko, the group’s former chairman, has significant control.
With the new acquisition, Mr Otedola’s holding now stands at 11.6 per cent compared to Mr Otudeko’s 8.7 per cent.
FBN Holdings has shed 15.1 per cent of its market value since the beginning of the year, placing it in the 130th position in terms of performance of the 154 stocks listed on the Nigerian Exchange.
The group reported a fourfold leap in net profit to N208.2 billion in the first quarter of the year. Total assets stood at N21.6 trillion compared to N16.9 trillion at the end of last year.
In January, Mr Otedola spent N6 billion in acquiring shares in Dangote Cement Plc, currently Nigeria’s biggest company by market capitalisation with a valuation of N11.2 trillion.
Shares in Geregu Power, where Mr Otedola holds the controlling stake, has returned 900 per cent since the company went public in October 2022.
cheap lasuna pills – diarex online how to get himcolin without a prescription
purchase besivance eye drops – sildamax online order sildamax pills
neurontin over the counter – azulfidine 500mg cheap buy generic sulfasalazine
purchase probalan generic – benemid 500 mg sale purchase carbamazepine pills
celebrex 200mg cost – celecoxib 100mg tablet indomethacin drug
colospa 135 mg drug – cilostazol 100mg tablet cilostazol 100 mg price
buy cambia pills for sale – buy voltaren for sale buy aspirin pill
buy rumalaya online cheap – buy shallaki for sale buy endep generic
mestinon 60 mg tablet – sumatriptan ca order imuran 25mg online cheap
buy baclofen 10mg for sale – buy feldene 20 mg pills buy feldene cheap
buy cheap voveran – cheap diclofenac pills buy nimotop sale
buy periactin medication – zanaflex price buy tizanidine sale
mobic medication – order toradol pill toradol oral
omnicef 300mg ca – cleocin online buy order cleocin generic
buy artane sale – cheap trihexyphenidyl online voltaren gel where to order
buy accutane 10mg sale – absorica medication deltasone 40mg pill
buy acticin online – buy permethrin without a prescription tretinoin cream without prescription
purchase betamethasone generic – order betamethasone 20gm creams monobenzone drug
metronidazole tablet – cheap flagyl cenforce 50mg canada
order augmentin 375mg without prescription – buy clavulanate medication buy generic levoxyl
hyzaar price – order cephalexin 125mg generic cephalexin 250mg over the counter
order cleocin 300mg – how to get cleocin without a prescription indocin 50mg oral
purchase crotamiton generic – mupirocin canada aczone usa
order provigil online cheap – order provigil online cheap buy meloset for sale
brand bupropion – buy generic orlistat 120mg buy shuddha guggulu generic
order capecitabine 500mg online cheap – naproxen for sale online order danazol 100 mg online
generic prometrium – ponstel usa fertomid generic
buy alendronate 35mg pills – buy pilex no prescription cheap medroxyprogesterone 5mg
where can i buy norethindrone – purchase aygestin pills buy yasmin generic