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Femi Otedola raised his shareholding in First HoldCo Plc to 20.42% after buying 680 million additional shares through a private placementOtedola purchased the shares at N44 each, below the company’s July 18 closing price of N61, according to market sourcesFirst HoldCo reported a record pre-tax profit of N653.54 billion for the first half of 2026, an 83.5% jump from the same period in 2025
Femi Otedola, Chairman of First HoldCo Plc, has deepened his hold over Nigeria’s most valuable banking stock after buying an additional 680.8 million shares through a private placement, pushing his ownership to 20.42% and lifting the market value of his stake to roughly N1.05 trillion.
The acquisition was completed at N44 per share, a price below the company’s July 18 closing figure of N61, according to market sources familiar with the deal.
Femi Otedola’s First HoldCo investment crosses N1.05 trillion Photo: Femi OtedolaSource: UGC
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