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Femi Otedola buys additional 546.7m units of FBN Holdings shares

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Femi Otedola buys additional 546.7m units of FBN Holdings shares

Mr. Femi Otedola has increased his FBN Holdings shares by 546. 674 million units, valued at N12.01 billion.

According to information on the Nigerian Exchange Limited, Otedola bought the shares through Calvados Global Services Limited at a price of N21.97 per share at the Exchange.

Prior to his new shares purchase, Otedola had a 7.01% stake in the bank, behind Oba Otudeko’s Barbican Capital Limited which holds an 8.67% stake.

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Otedola, has had investments in port agency, shipping, storage and insurance brokerage. In 2007, he acquired a controlling interest in African Petroleum, which later metamorphosed into Forte Oil. Forte Oil was later sold and renamed Ardova.

Geregu Power, which he took to public in October 2022, accounts for about nine per cent of Nigeria’s grid electricity.

Otedola has held several board memberships, including President of the Nigerian Chamber of Shipping and was also the past Chairman of Transcorp Hilton Hotel, Abuja.

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