Business

Otedola Acquires ‘Substantial’ Stake In FBN Holdings

A file photo of billionaire businessman, Mr Femi Otedola.
A file photo of billionaire businessman, Mr Femi Otedola.

First Bank of Nigeria’s parent company, FBN Holdings Plc, say billionaire businessman, Femi Otedola, has acquired a substantial stake in its business.

According to a notice signed by company secretary, Seye Kosoko, Otedola’s stake in FBN Holdings now stands at 5.07 percent.

“We refer to our communication to the market dated October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder,” the notice said.

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“This morning, October 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company’s issued share capital of 35,895,292,791.

“Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07%.”

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