Home NEWS Billionaire Otedola Emerges as First Bank’s Largest Single Shareholder

Billionaire Otedola Emerges as First Bank’s Largest Single Shareholder

by InlandTown
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Femi Otedola emerges as First Bank's majority shareholder

First Bank confirmed on Saturday that billionaire Femi Otedola has emerged as their shareholder with majority shares after acquiring a 5.07 percent equity stake.

In the last couple of days, First Bank Holdings witnessed an unusually massive trading in its shares and the cumulative number of units traded within the period surpassed 2.1billion. Mr. Femi Otedola and his nominee, Calvados Global Services Limited acquired a total of 1, 818, 551, 625 units from the company’s issued share capital of 35, 895, 292791, making him the bank’s single largest shareholder on record.

“Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the company is now 5.07%.” The notice signed by the company secretary, Seye Kosoko read.

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