Billionaire investor Femi Otedola acquires more First HoldCo shares worth N43bn
•Femi Otedola
The Chairman of First HoldCo Plc, Femi Otedola, acquired additional shares of the company yesterday, valued at approximately N43.41 billion.
The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange Limited (NGX) and signed by the group company secretary, Abiola Baruwa.
The acquisition, executed on the Nigerian Exchange on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of N79 per share, reports Channels TV.
Following the latest acquisition, Otedola’s stake in First HoldCo Plc has climbed from 8,055,314,486 units reported in the FY 2025 audited accounts to 8,604,850,139.
The Nigerian billionaire’s total stake has now climbed to 19.36% in his biggest single purchase since becoming chairman in January 2024.
On September 25, 2025, he increased his interest in First HoldCo with the purchase of 64.87 million shares valued at N2.01 billion.
Of this amount, 39.3 million shares were acquired directly on September 23 for about N1.2 billion, while an additional 25.6 million shares worth N793.6 million were bought indirectly through Calvados Global Services Limited on the same day.
Those earlier transactions raised his shareholding to 16.1 per cent, from the 13.15 per cent stake recorded in September 2024.
