Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial services group after acquiring an additional 95.7 million ordinary shares valued at N12.58 billion.
The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX) on Monday and signed by the Group Company Secretary, Abiola Baruwa.
What the data is saying
The latest acquisition represents a significant additional investment by Otedola in First HoldCo.
- Shares acquired: 95.7 million
- Value of transaction: N12.58 billion
- Buyer: Calvados Global Services Limited
- Beneficial owner: Femi Otedola
The shares were acquired through Calvados Global Services Limited, Otedola’s investment vehicle, further increasing his exposure to the financial services group.
What they are saying
The transaction reinforces Otedola’s continued financial commitment to First HoldCo and his position as a major shareholder in the group.
The acquisition was formally disclosed to the NGX in line with regulatory requirements, providing the market with details of the latest change in his shareholding.
The additional investment comes as First HoldCo continues to operate within Nigeria’s evolving banking and financial services landscape, where large shareholders have increasingly strengthened their positions in major financial institutions.
