With the new acquisition, Mr Otedola's holding now stands at 11.6 percent compared to the 8.7 per cent held by
Billionaire tycoon Femi Otedola bought 797.7 million new shares in the financial services group
With the transaction, Mr Otedola secured a top ownership position in the holding company.
The transaction worth N17.2 billion was conducted on Monday, according to a regulatory filing seen by PREMIUM TIMES, implying that the majority owner of
Last Thursday, Mr Otedola procured 863.2 million shares in two separate deals that accounted for more than 99 per cent of the trading activities of the corporation.
While he purchased 316.5 million units valued at N6.9 billion directly in his name, he acquired 546.7 million units through his nominee,
The Thursday acquisition helped Mr Otedola, who is the chairman of
With the new acquisition, Mr Otedola's holding now stands at 11.6 per cent compared to
The group reported a fourfold leap in net profit to N208.2 billion in the first quarter of the year. Total assets stood at N21.6 trillion compared to N16.9 trillion at the end of last year.
In January, Mr Otedola spent N6 billion in acquiring shares in
Shares in
Copyright 2024 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com)., source