Otedola Acquires Substantial Stake In FBN Holdings

FBN Holdings Plc has announced that billionaire businessman, Femi Otedola, has acquired a substantial stake in its business.

FBN Holdings made the announcement in a statement issued on the Nigerian Exchange Limited’s portal on Saturday.

According to a statement signed by the company secretary, Seye Kosoko, Otedola’s stake in FBN Holdings now stands at 5.07 percent.

“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,” the notice said.

“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%.”

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