Femi Otedola has increased his investment in First HoldCo Plc following the purchase of an additional 147.74 million shares in the financial services group for N20.7bn.
The transaction was executed on August 14 at N140 per share through Calvados Global Services Limited, an investment vehicle associated with the billionaire businessman.
The latest acquisition adds to Otedola’s series of major purchases in First HoldCo this year, taking his disclosed share acquisitions in the company to more than N400bn.
Otedola, who is the chairman of First HoldCo, has continued to build his stake in the group and has previously expressed his intention to increase his ownership beyond 51 per cent.
His share accumulation accelerated in the second half of the year. In May, he purchased 549.54 million shares for about N43.41bn, while in June, he acquired another 672.9 million shares valued at N29.6bn through the company’s private placement programme.
In July, Otedola purchased 706.13 million shares for approximately N77.58bn in a transaction carried out on July 22.
Later in the month, he made his largest disclosed acquisition, buying 1.78 billion shares at a cost of about N222.21bn.
He followed that transaction with another purchase of 138.04 million shares valued at N18.11bn in early August.
With the latest transaction included, Otedola’s disclosed share purchases in First HoldCo for 2026 amount to roughly N412bn.
The continued acquisition of the shares has taken place alongside a strong rise in First HoldCo’s share price. The stock closed at N140 on August 17 after recording an intraday high of N150 earlier in August.
Otedola’s sustained accumulation has made his growing ownership position a major development for investors watching the company, particularly as he moves towards his stated objective of securing majority control.
NASTV AFRICA
Manifesting Africa’s Greatness
