Otedola acquires N29.6 billion shares in First HoldCo, taking his stake to 20.4% (opens original article in a new tab)

Femi Otedola increased his stake in First HoldCo to 20.4% by acquiring N29.6 billion in shares, part of a N350 billion private placement program aimed at strengthening the group's capital and balance sheet.

• Billionaire Femi Otedola acquired 672.9 million shares in First HoldCo, increasing his stake to 20.4%
• First HoldCo plans to use funds from the private placement to boost First Bank's capital and balance sheet
• Otedola has been increasing his shares in First HoldCo since 2021, with multiple purchases totaling over N100 billion