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Otedola acquires more FBN Holding shares, increases stake to 11.64%
Femi Otedola, the chairman of FBN Holdings, has once again increased his stake in the company, further cementing his position as the single largest shareholder of the financial services giant.
In a notice to the NGX, the billionaire confirmed that he had acquired an additional 797,946,415 shares of the company at an average price of N21.58. The transaction value of the new acquisition amounts to a staggering N17.2 billion.
This latest acquisition takes his combined stake to 11.64%, making him the only shareholder of the bank with a total shareholding exceeding 10%..
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