Nigeria billionaire Otedola bought additional 546,674,034 shares to become FBNH biggest stakeholder

Olufemi Otedola, chairman, FBN Holdings has bought an additional 546,674,034 shares through Calvados Global Services Limited, a company related to him.

The Nigeria billionaire business mogul who is now back to Forbes billionaire list, bought additional shares of FBN Holdings on June 20 at N21.97 per share, all valued at N12.01 billion.

FBN Holdings had in January appointed Otedola as the chairman of its board of directors.

His appointment came two years after Otedola became the bank’s single largest shareholder in December 2021, when he increased his stake to 7.57 percent.

FBN Holdings had after Otedola’s appointment named Barbican Capital Limited as its majority shareholder thus making Otedola the second major shareholder at the time.

But the newest acquisition has increased Otedola’s direct and indirect equities holdings in FBN Holdings to 3,380,462,950 — from 2,517,282,140 shares.

And with this additional shares, the number of shares recently acquired totaled 863,180,810.

According to the corporate disclosure, Otedola had paid N21.91 per share for 316,506,776 shares, all valued at N6.935billion.

Otedola is now the largest shareholder in FBN Holdings, surpassing Barbican Capital Limited, owned by Oba Otudeko, which has 3,110,400,619 direct shares.

Otedola now owns 9.41 percent shares in the FBN Holdings having purchased the group’s shares worth at N18.9 billion.