ThisDay· 3h ago· 1 min read
Kayode Tokede
Billionaire investor, Mr. Olufemi Otedola, has acquired additional N222.21 billion worth of First Holdco Plc shares on the Nigerian Exchange Limited (NGX).
According to a disclosure on the Exchange yesterday, the chairman of First Holdco acquired further 1,779,094,976 shares of the group at N124.90 per share.
The transaction on the NGX takes Otedola‘s position to 11,763,018,192 shares from 9,277,792,037 as of June 30 2026 unaudited results, making him the largest shareholder of the oldest financial institution in Nigeria.
The purchase also carries a consequence beyond its size. Nigerian takeover rules oblige a shareholder crossing 30 per cent of a listed company to make a mandatory offer for the remainder. On a register of roughly 45,475,027,677 shares, and his threshold near 12 billion, Otedola’s stake in the group currently stands at 26 per cent.
The gap is around…
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