Femi Otedola increases his ownership in First HoldCo Plc after acquiring shares worth N29.6 billion through the company’s private placement programme. According to reports, the purchase involves 680 million shares and raises his stake to about 20.42% (reported as 20.4% in one outlet). The acquisition is described as being carried out via the lender’s second tranche of its N350 billion private placement programme. One report adds that the second tranche totals N45 billion, under which Otedola executed the transaction that brought his holdings up to the stated percentage. Both outlets describe the same core details: the number of shares acquired, the total value of the purchase, and the resulting stake in First HoldCo. The reports do not provide additional information on other shareholders, the purpose of the capital raise, or whether any regulatory approvals are newly involved in this particular transaction.
Femi Otedola increases stake in First HoldCo with N29.6bn share purchase
Femi Otedola increases his ownership in First HoldCo Plc after acquiring shares worth N29.6 billion through the company’s private placement programme. According to reports, the purchase involves 680 m...
- Femi Otedola acquires 680 million shares in First HoldCo Plc.
- The shares are reported to be worth about N29.6 billion.
- Otedola’s stake in First HoldCo increases to about 20.4%–20.42%.
- The purchase is described as part of First HoldCo’s private placement programme.
- One outlet specifies the shares were acquired through the second tranche of an N350 billion private placement.
Femi Otedola has increased his stake in First HoldCo Plc to 20.42 percent after acquiring 680 million shares worth N29.6 billion in private placement.
21 hours agoMr Otedola executed the share purchase through the N45 billion second tranche of the lender’s N350 billion private placement programme. The post Otedola acquires N29.6 billion shares in First HoldCo, taking his stake to 20.4% appeared first on Premium Times Nigeria.
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