Femi Otedola, the billionaire investor and Chairman of FBN Holdings, has solidified his position as the company's largest stakeholder.
Otedola purchased an additional 534,094,407 shares for N30.00 a share, according to a recent filing with the Nigerian Exchange Group (NGX). This latest acquisition is estimated to be worth N16 billion.
With this most recent action, Otedola's total ownership of FBN Holdings rises to a commanding 13.16%, an increase of 1.49%. His ongoing buying binge demonstrates his will to increase his sway over one of the oldest financial organizations in Nigeria.
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