Femi Otedola, the chairman of First HoldCo Plc, has further consolidated his position as the top shareholder of the financial services group, with his latest share purchase valued at N14.8 billion.
The billionaire entrepreneur, procured 370 million shares at N40.1 each on Thursday, according to a regulatory filing at the Nigerian Exchange Limited.
He bought the shares through Calvados Global Services Limited, his special purpose acquisition vehicle, the document showed.
The latest acquisition by the majority owner of Lagos-listed electricity provider, Geregu Power Plc, takes his combined ownership in First HoldCo to 16.9 per cent. That is equivalent to 7.1 billion shares.
In September, Mr Otedola acquired 64.9 million shares valued at N2 billion in the banking group: 39.3 million units worth N1.2 billion in his own name and 25.6 million units estimated at N792.5 million via Calvados Global Services.
“The sellers were Barbican Capital Limited & affiliates and Leadway Group & affiliates, and the buyer was RC Investment Management Limited,” First HoldCo said in a statement issued after the transactions.
Mr Otudeko controls Barbican Capital Limited, while Mr Odukale is the CEO of Leadway Assurance Company Limited.
