#Femi Otedola Acquires Additional 200,000 Units Of First Bank Shares, Using Proxy Company Owned By DJ Cuppy, Others


Mr. Otedola Olufemi has recently acquired additional 200,000 volumes of shares at an aggregate price of N11.52 per share. This was notified by First Bank Holdings through the Nigerian Exchange Limited as is required by the NGX for quoted companies to notify the exchange and investing public of insider dealings.

Mr. Otedola,   billionaire  investor has been given the status of a significant shareholder following his purchase of the Tier-1 bank’s shares sometime in October which triggered enormous increase in the bank’s share price before it was revealed that the billionaire was behind the purchase of the shares.

At the time, First Bank Holdings Plc released a notice to inform investors of the newest significant shareholder of the group.

Otedola who acquire first bank shares using direct vehicles and indirect vehicles has been rumoured to be interested in the chairmanship position.

He, however clarifies his stands, stating that he is not interested in being a board member, or a chairman of the Bank

Mr. Otedola acquired the additional shares through his proxies Calvados Global Services, Primose Global Concept, Shetland Global, Wells Properties, and Impetus Synergy.

Companies he and his daughters are directors, Dj cuppy, Temi Otedola and the eldest Tolani Otedola

With this new information, Femi Otedola has the highest stake in first bank

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