Otedola and FBN Photo
Femi Otedola, chairman of FBN Holdings Plc, FBNH, has increased his stake in the compny with an additional 2.22 percent shares valued at N17.2 billion.
The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday.
The fresh acquisition further cements the billionaire’s control in the company as his shareholding has now reached 11.63 percent, the highest.
According to the NGX filing, Otedola spent N17.2 billion to 797,946,415 shares at 21.58k.
The latest acquisition comes just four days after the serial investor increased his stakes in the holding company to 9.41 percent after splashing a whooping N18.9 billion to buy a total of 863,180,810 shares.
With that and in addition to the latest purchase, Otedola’s shares (direct and indirect) in FBN Holdings has now leapt to 4,178,409,365 from 2,517,282,140 shares.
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