Femi Otedola purchases N222.2bn First Holdco shares on NGX
The chairman of First Holdco Plc, Mr.. Olufemi Otedola has acquired an additional N222.2 billion worth of Group on the floor Nigerian Exchange Limited (NGX).
According to market disclosure on the Exchange, the billionaire investor acquired further 1,779,094,976 shares of the Group at N124.90 per share, making it a single purchase he has made in the financial institution.
The transaction on the NGX takes Otedola ‘s position to 11,956,589,264 shares from 10,177,494,288x, as he becomes the largest shareholder of the oldest financial institution in Nigeria.
The gap is around 1.69 billion shares, less than the block he has just bought. A further purchase on the same scale would compel him to bid for the whole of First Bank’s parent.
The Group shares closed at N127 on Tuesday against N47.90 at the end of 2025, a gain of 165per cent. Market capitalisation has risen further, by 187per cent, the difference reflecting shares issued during the recapitalisation rather than value created for existing holders.
