National stock exchange desks, investment banking analysts, and corporate finance networks across Nigeria are tracking intense market activity following a massive, multi-billion-naira share transaction on the Nigerian Exchange (NGX).
Billionaire industrialist and Chairman of First HoldCo Plc, Femi Otedola, is trending across financial media after acquiring an additional 1.78 billion ordinary shares in the financial services group.
Executed through his investment vehicle, Calvados Global Services Limited, at ₦124.90 per share, the single block purchase was valued at approximately ₦222.2 billion. The acquisition raises Otedola's total beneficial interest in First HoldCo to 11.76 billion shares, pushing his direct and indirect ownership stake to 25.87%.
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The market-moving transaction came barely a week after an earlier acquisition of 706.1 million shares worth ₦77.6 billion, bringing his total capital injection into the group to over ₦299 billion within July alone.
Equity analysts are attributing the aggressive buying spree to strong investor confidence following First HoldCo's half-year financial results—where profit before tax jumped 83.5% to ₦653.5 billion—and its ongoing ₦350 billion capital restoration and recapitalization programme.
Sources: Nigerian Exchange (NGX) Regulatory Filings / Business Insider Africa / TVC News / Premium Times / The Guardian Nigeria.
#FemiOtedola #FirstHoldCo #NGX #BankingSector #CapitalMarkets #InvestInNigeria #FinancialNews
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