This post was originally published on this site.
Femi Otedola has boosted the holding of First HoldCo Plc with 680 million shares acquired for close to N29.6bnThe shares were snapped up through a private placement at N44/share, which is below market closing pricesThe move cements Otedola as one of the major shareholders in First HoldCo as part of ongoing capital-raising plan
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
First HoldCo Plc Chairman, Femi Otedola, has continued to cement his stake in the company following his acquisition of approximately 680.8 million additional shares through a private placement at an estimated cost of N29.6 billion.
The transaction is expected to significantly strengthen his holdings in the company as First HoldCo continues its equity capital program.
Otedola raises First HoldCo ownership to 20.42 per centSource: UGC
Otedola increases control of First Bank
The Cable reports that the transaction
