Femi Otedola Increases Stake in FBN Holdings with N12.01 Billion Share Purchase

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Femi Otedola has expanded his investment in FBN Holdings by purchasing an additional 546,674,034 units of shares valued at N12.01 billion.

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According to information from the Nigerian Exchange Limited (NGX) on Thursday, Otedola acquired the shares through Calvados Global Services Limited at N21.97 per share.

Prior to this purchase, Otedola held a 7.01% stake in FBN Holdings, trailing Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.

Otedola’s diverse investment portfolio includes ventures in port agency, shipping, storage, and insurance brokerage.

In 2007, he took a controlling interest in African Petroleum, which was rebranded as Forte Oil before being sold and renamed Ardova. His company, Geregu Power, which went public in October 2022, supplies about nine percent of Nigeria’s grid electricity.

Additionally, Otedola has served on several boards, including as President of the Nigerian Chamber of Shipping and past Chairman of Transcorp Hilton Hotel, Abuja.

Adeniyi Ogunfowoke, The Naija247news
Adeniyi Ogunfowoke, The Naija247newshttps://naija247news.com/
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