First HoldCo Plc Chairman Femi Otedola has purchased an additional 147.74 millioyn shares worth N20.68 billion through his investment vehicle, Calvados Global Services Limited taking his stake in the Financial institution to 27.49%.
The latest purchase, executed on August 14, 2026, at N140 per share by Calvados Global Services involved the acquisition exactly 147,737,699 ordinary shares of First HoldCo and comes just days after another major purchase by Otedola when on August 6, Calvados acquired 138,041,465 First HoldCo shares at N131.20 per share in a transaction valued at N18.11 billion.
That purchase followed Otedola’s much larger acquisition on July 30, when Calvados bought 1.779 billion shares at N124.90 each for approximately N222.21 billion.
With the latest 147.74 million shares purchased on August 14, Otedola’s cumulative holding through the disclosed share purchases has risen to approximately 12.049 billion First HoldCo shares. The latest acquisition means Otedola has bought more than 2.77 billion First HoldCo shares in the series of transactions disclosed since his 9.984 billion-share position before the July 30 purchase.
Otedola Moves Closer to 30% Takeover Threshold
The continued purchases have also brought Otedola closer to the regulatory threshold that could trigger a mandatory takeover offer, the billionaire’s stake in the institution now stands at 27.49%, very close to the voting rights to 30% or more in a public company that triggers an obligation to make a mandatory takeover offer for the remaining voting shares.
For now, the latest purchase reinforces Otedola’s position as First HoldCo’s dominant individual shareholder and signals that his accumulation of the group’s shares remains ongoing.
