The Chairman of FBN Holdings Plc, Mr. Olufemi Otedola, has acquired approximately ₦17.2 billion worth of shares in the company, solidifying his status as the largest single shareholder of the financial institution.
This was contained in a notice signed by the company secretary, Mr. Adewale Arogundade, which was posted on the Nigerian Exchange Limited (NGX), Instagram handle.
It revealed that about 797,946,415 at ₦21.58 kobo per share was purchased by the billionaire investor on June 24, 2024.
The transaction value of the new acquisition amounted to a staggering ₦17.2 billion.
The current price of FBN Holdings closed on June 24, 2024, at ₦20.00 per share on the floor of NGX from the ₦21.15 per share it opened for trading.
FBN Holdings saw a total trading volume of 627,604,418 shares on the Exchange. The latest acquisition raised the billionaire’s stake to 11.64%, making him the only shareholder with more than 10% of the bank’s shares.
Previously, he bought shares worth ₦18.9 billion, increasing his stake to 9.41%.
His recent purchase brings his total investment to ₦36.1 billion within days.He now owns 4.178 billion shares out of the company’s 35.895 billion outstanding shares.
Otedola, one of the only four Nigerian billionaires listed by Forbes, has invested an estimated ₦102 billion since he began acquiring FBN Holdings shares three years ago.
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