Finally, FBN Holdings confirms Otedola acquisition of 5.07% stake
Hours after it denied the acquisition of its shares by Mr Femi Otedola, the FBN Holdings (FBNH) Plc has now confirmed that the businessman had acquired 5.07 percent equity stake in the company.
FBN had earlier denied the deal, claiming it had not received any notification to that effect on the deal which was widely reported.
Secretary, Mr Seye Kosoko, in another statement, Saturday posted on the website of the Nigerian Exchange (NGX) Ltd. confirmed that Otedola and his nominee now own 5.07 percent equity stake in the company.
“We refer to our communication to the market dated October 22, on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder.
“This morning, Oct. 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Ltd., that their client, Mr Otedola Olufemi Peter and his nominee, Calvados Global Services Ltd. have acquired a total of 1,818,551,625 units of shares from the company’s issued share capital of 35,895,292,791.
“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07 percent,” said the statement.
Commenting on the issue, Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said in Lagos that Otedola is now the largest single shareholder in the company.
Kurfi who dispelled the rumours that Otedola had acquired FBN Holdings said he was only the largest single shareholder.
He noted that 95 percent of FBNH shares were still in the hands of other shareholders, comprising Pension Fund Administrators and other individuals.
