Nigeria billionaire and chairman of Geregu Power PLC, Femi Otedola, has acquired an additional 2.22 per cent shares in the First Bank of Nigeria.
The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. In the notice, the chairman of FBN Holdings confirmed that he had acquired an additional 797,946,415 shares of the company at an average price of N21.58.
The transaction value of the new acquisition amounts to a staggering N17.2 billion.
The fresh acquisition,which comes four days after he regained his position as the majority shareholder of First Bank after acquiring N18.9 billion worth of the group’s shares on the Nigerian Exchange on Thursday, further cements the billionaire’s control of the company as his shareholding has now reached 11.63 per cent — the highest.
Otedola acquired 316,506,776 shares at a share price of N21.91 each, amounting to N6.935 billion and 546,674,034 shares at N21.97 each, amounting to N12.01 billion, through his holding company, Calvados Global Services Limited.
