The chairman of FBN Holdings, Olufemi Otedola, has acquired an extra 546,674,034 shares via his company, Calvados Global Services Limited.
On June 20, the wealthy businessman purchased further FBN Holdings shares at a cost of N21.97 per share, for a total estimated value of N12.01 billion.
Otedola was named chairman of FBN Holdings’ board of directors in January.
His nomination occurred two years after the billionaire raised his ownership to 7.57 percent in December 2021, making him the company’s single largest shareholder.
Otedola was the second-largest stakeholder at the time when FBN Holdings named Barbican Capital Limited as its majority shareholder following Otedola’s appointment.
Otedola now owns 3,380,462,950 shares of direct and indirect equity in FBN Holdings, up from 2,517,282,140 shares before the most recent acquisition.
The total number of shares recently acquired was 863,180,810 with the addition of these shares.
Otedola paid N21.91 per share for 316,506,776 shares, valued at N6.935 billion, according to the corporate declaration.
With 3,110,400,619 direct shares, Otedola has surpassed Barbican Capital Limited, controlled by Oba Otudeko, to become the largest stakeholder in FBN Holdings.
At present, Otedola holds 9.41% of the shares in FBN Holdings. He has paid N18.9 billion for the group’s shares.
