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Friday, March 24, 2023

First Bank Confirms Femi Otedola Owns 5.07% of Its Shares

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FBN Holdings Plc the parent company of First Bank of Nigeria says it received a notification from APT Securities and Funds Limited that their client Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 unit of shares.

FBN Holdings has an issued share capital of 35,895,292,791 shares, meaning that based on the foregoing the equity stake of Otedola and his nominee in the Company is now 5.07%.

A nominee is a person or firm whose name is titled on securities or other property to facilitate certain transactions or transfers while leaving the original customer as the actual or legal owner. In this way, a nominee can serve as a custodian.

FBN Holdings (the parent company of First Bank) had a market capitalisation of N439.7 billion at the close of trading on Friday, meaning a 5.07 percent stake would be worth N22.7 billion.

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