Femi Otedola, Chairman of First Holdco, has elevated his stake within the group to roughly 36.7 p.c, following the acquisition of about 24.9 p.c in an off-market deal executed on July 16. With this acquisition, he has purchased out long-time main shareholder, Oba Otudeko, who owned a confirmed 8.65 p.c stake, together with his remaining shareholding beneath litigation.
Learn additionally: First bank’s biggest single day trade sparks rumours of Otudeko return
A complete of 10.433 billion First Holdco shares have been traded at N31.00 per share in 17 offers. Your complete transaction was valued at N323.45 billion, the very best off-market transaction ever seen on the NGX.
