Billionaire businessman Femi Otedola has increased his stake in First HoldCo Plc after acquiring an additional 138.04 million ordinary shares valued at N18.11 billion.
A regulatory filing by First HoldCo on Friday disclosed that Calvados Global Services Limited, a company linked to Otedola as a significant shareholder, purchased 138,041,465 shares at N131.20 each on the Nigerian Exchange (NGX) on August 6, 2026.
The latest acquisition raises Otedola’s total shareholding in the financial services group from 11.85 billion shares, representing 25.8 per cent, to 11.99 billion shares, equivalent to a 26.1 per cent stake.
The purchase comes just days after Otedola indicated his intention to further increase his investment in First HoldCo beyond his previous holding of about 26 per cent.
First HoldCo hits N140 share price as market value rises to N6.3trn
The move also follows a strong rally in the company’s share price. On Thursday, First HoldCo shares climbed to a record high of N140, lifting the group’s market capitalisation to N6.37 trillion and reinforcing its position as Nigeria’s most valuable listed banking group.
The lender’s stock has surged by more than 190 per cent since the start of the year, buoyed by strong investor confidence and optimism over the company’s ongoing transformation under Otedola’s leadership.
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