Femi Otedola don buy more First HoldCo shares. Di billionaire investor and chairman of First HoldCo Plc, don increase im stake for di financial institution again. Di latest transaction happun on August 14, through im company Calvados Global Services. Im buy 147,737,699 units of First HoldCo shares at N140 per share. Dis one cost about N20.7 billion.
Dis move na part of im strategic plan to take full control. Otedola don talk say im target na to get over 51 percent equity control. So im want to own di majority of di company. Im don been dey buy shares for di company through out dis year. Total investment don reach approximately N391 billion, wey be about $300 million.
Let us check di breakdown of im purchases for 2026. For May, im buy 549.54 million shares wey worth about N43.41 billion. For June, im add 672.9 million shares wey cost N29.6 billion. Dis one na di second tranche of di lender’s private placement program. On July 22, im purchase 706.13 million shares through Calvados Global Services Limited, wey cost about N77.58 billion. For late July, im make im biggest single purchase of di year. Im acquire 1.78 billion shares wey cost about N222.21 billion. For early August, im buy another 138.04 million shares for N18.11 billion. Dat one be about $14 million.
Dis heavy buying don make di stock to rise well well. Year-to-Date, di stock don return approximately +192.28 percent. As at close of trading on Monday, August 17, di stock dey at N140. During intraday trading for early August, around August 7, di stock touch N150 per share. Dat one be historic high for di stock. E don later stabilise around N140, but di growth still dey very strong. Di stock don trade at 52-week low of N29.25 per share before. So di rise na big leap.
With dis continued accumulation, Otedola don further cement im position as di dominant shareholder. Market watchers dey expect say dis steady capital injections go drive long-term value for shareholders. E go also boost di bank’s competitive edge. Im consistent investment show strong confidence for di future of Nigeria’s premier banking group. Di heavy capital injections don significantly raise im total direct and indirect ownership.
