Billionaire investor Femi Otedola has significantly increased his ownership in First HoldCo Plc, acquiring an additional 369,986,122 shares for approximately ₦14.8 billion. This substantial purchase, made through his investment firm Calvados Global Services Limited, pushes his total stake in the financial holding company to over 18 per cent. The transaction was officially disclosed to the Nigerian Exchange Group (NGX) via a regulatory filing.

The latest acquisition, which occurred on December 18, saw Otedola purchase the shares at a price of ₦40.06 each. This move represents a continuation of a strategic accumulation of shares by the prominent businessman in the company over recent months, signaling a deepening investment.

This recent share purchase builds upon a series of acquisitions throughout 2024. In late September, Otedola had already expanded his holdings, adding 64.87 million shares worth about ₦2.01 billion. This prior transaction had already elevated his stake to 16.1 per cent.

At the time of the September transaction, First HoldCo had detailed that Otedola acquired 39.3 million shares directly, valued at approximately ₦1.2 billion. An additional 25.6 million shares were acquired indirectly through Calvados Global Services Limited, amounting to about ₦793.6 million.

Prior to these recent investments, Otedola’s stake in First HoldCo stood at 13.15 per cent as of September 2024. The consistent and substantial share purchases underscore a growing confidence and commitment to the financial holding company’s future prospects.

The filings, signed by Abiola Baruwa, the group company secretary, provide transparency on these significant market movements. Such disclosures are crucial for maintaining investor confidence and ensuring regulatory compliance within Nigeria’s dynamic financial sector.

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Keywords: Femi Otedola, First HoldCo, Nigerian Exchange Group, Calvados Global Services, share purchase, financial holding company, Otedola stake, NGX filing