FEMI OTEDOLA BECOMES THE LARGEST SHAREHOLDER IN FBN AS HE BUY 546.7 MILLION UNITS OF SHARE
By People’s Voice Nigeria | News
Billionaire businessman Femi Otedola has solidified his position as the largest shareholder of FBN Holdings after acquiring a substantial number of shares through both direct and indirect investments.The transaction, which took place on June 20, 2024, saw Mr. Otedola’s personal investment vehicle, Calvados Global Services Limited, and himself collectively purchase a total of 863,180,810 ordinary shares of FBN Holdings.
This acquisition amounted to 546,674,034 shares purchased by Calvados Global Services Limited at N21.97 per share, and 316,506,776 shares bought directly by Mr. Otedola at N21.91 per share.
The combined investment value of these acquisitions totals N18,950,313,232.34, a significant financial commitment for Mr. Otedola to bolster his influence within one of Nigeria’s foremost financial institutions.
In February 2024, Femi Otedola owned 1,989,342,376 indirect units, constituting 5.54% of FBN Holdings’ total shareholding, alongside 40,033,982 direct shares, amounting to 0.11%. Combined, his holdings stood at 2,029,376,358 shares, equivalent to about 5.65% of the company’s shares. At that time, Oba Otudeko’s Barbican Capital Limited held the largest stake in the bank.
However, following his acquisition of an additional 863,180,810 shares valued at N18,950,313,232.34 on June 20, 2024, Otedola has now emerged as FBN Holdings’ largest shareholder.
