FBN Holdings Plc (NGX Ticker: FBNH) has confirmed that the Billionaire Investor, Femi Otedola has been acquiring shares of FBNH.
The confirmation comes after the company initially debunked the media reports about the share purchase.
In a notification to the Nigeria Exchange on Saturday, FBNH said Femi Otedola’s equity stake in the company now stands at 5.07%.
The document signed by Seye Kosoko, Company Secretary read:
“We refer to our communication to the market dated October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder.
This morning, October 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company’s issued share capital of 35,895,292,791.
Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07%.”
FBN Holdings Plc Shares gained 1.24% or 15kobo on Friday, 22nd October 2021 to close at N12.10.
Starting from 22nd September 2021, the share price has risen from N7.50 where it had more or less flatlined for months before then, to its closing price on Friday.
This is an astonishing 61.33% capital gain on the stock, putting it well above ACCESS and UBA Share prices..
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.