Billionaire businessman Femi Otedola has further solidified his position in FBN Holdings Plc by acquiring an additional 1,228,141 shares at N20.30 per share.
Through Calvados Global Services Limited, a company related to him, Otedola also acquired 7,965,198 shares at N19.90 per share.
The transactions, conducted on Tuesday, June 25, were disclosed in a notification of share dealing by insiders.
Otedola’s recent acquisitions bring his total shareholding in FBN Holdings to over 10%, making him the only shareholder with such a significant stake in the company.
This follows his earlier transaction on Monday, June 24, where he increased his equity stake to 11.64%, acquiring an additional 797,946,415 shares at an average price of N21.58 per share. The total value of this transaction was N17.2 billion.
In January, FBN Holdings appointed Otedola as the chairman of its board of directors. Last week, he further increased his holdings by purchasing 546,674,034 shares through Calvados Global Services Limited at N21.97 per share, totaling N12.01 billion.
Otedola’s journey with FBN Holdings began in December 2021 when he became the firm’s single largest shareholder by increasing his stake to 7.57%.
Following his appointment, FBN Holdings named Barbican Capital Limited as its majority shareholder, making Otedola the second major shareholder at that time.
Additionally, he acquired 316,506,776 shares at N21.91 per share, valued at N6.935 billion.
