Again, Otedola splashes N183m on additional FBN Holdings shares

Billionaire businessman, Femi Otedola, has again splashed N183m on additional shares in FBN Holdings to further increase his stake in the company.

The fresh acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Wednesday by Adewale Arogundade, Ag Company Secretary of the company.

According to the NGX filing, Otedola bought the shares in two tranches first buying 1,228,141 shares for N24.9 million at N20.30k, while the second tranche was 7,965,198 units of shares at N19.90 per share, totaling N158,507,440.20.

The deal was executed through his company — Calvados Global Services Limited — bringing the total value of shares bought on June 25 to N183.4 million.

The development comes two days after he bought 797,946,415 shares at N21.58k for N17.2 billion.

READ ALSO:Otedola increases stake in FBN Holdings to 11.64% with fresh 797m shares

On June 20, Otedola, who is also the chairman of FBN Holdings, bought shares valued at N18.9 billion.

Four days later, his shares increased to 4,178,409,365 after he bought 797,946,415 shares worth N17.2 billion.

In less than seven days, the billionaire has bought N36.2 billion worth of shares of the bank.

Otedola’s total shares (direct and indirect) in FBN Holdings have now moved from 4,178,409,365 to 4,187,602,704 shares.

By: Babajide Okeowo

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