Olufemi Otedola, Chairman of First HoldCo Plc, increased his direct stake in the company by purchasing 39,313,379 units for ₦1.21 billion. The transaction, executed on September 23 2025 in Lagos, was made at a share price of ₦31 per unit and recorded under the identification code NGFBNH000009. Following the purchase, Otedola’s direct holding rose to 3,251,346,245 units, representing 7.77 % of First HoldCo Plc.
According to the company’s second‑quarter financials released on July 30 2025, Otedola previously held a direct stake of 3,212,032,866 units (7.67 %) and an indirect stake of 3,465,560,297 units (8.28 %). In the same transaction, Calvados Global Services Limited, a firm linked to Otedola, acquired 25,565,289 ordinary shares worth ₦792.5 million at the same price and under the same transaction code. This purchase raised his indirect holdings to 3,491,125,586 units, or 8.34 % of the company.
The Nigerian Exchange (NGX) disclosed the transaction on Thursday, highlighting Otedola’s growing investment in First HoldCo Plc. His combined direct and indirect holdings now give him a larger influence over the company’s direction and strategy, a development closely watched by the Nigerian business community. As First HoldCo Plc continues its growth trajectory, Otedola’s expanded stake is expected to play a key role in shaping the firm’s future success, drawing significant attention to its next moves.
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