By Samuel Bankole
Billionaire investor Femi Otedola has further consolidated his position as the largest shareholder in FBN Holdings, one of Nigeria’s leading financial services groups.
According to a regulatory filing with the Nigerian Exchange Group (NGX), Otedola acquired an additional 534.1 million shares at N30 per share, bringing the total value of his latest purchase to approximately N16 billion.
With this acquisition, Otedola’s stake in FBN Holdings increased by 1.49%, raising his total shareholding to 13.16%.
READ ALSO: NPA nears full deployment of port community system to boost efficiency ~Dantosho
The move underscores Otedola’s commitment to strengthening his influence over the bank, further solidifying his position in one of Nigeria’s oldest and most prominent financial institutions.
This latest purchase follows a major transaction in July when Otedola acquired 797.9 million shares at an average price of N21.58 per share, valued at N17.2 billion.
His series of acquisitions highlights a strategic investment approach aimed at boosting his stake and potentially shaping the future direction of FBN Holdings.
(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)
