Billionaire tycoon Femi Otedola bought 797.7 million new shares in the financial services group FBN Holdings, the lender said in a regulatory filing on Monday.
With the transaction, Mr Otedola secured a top ownership position in the holding company.
The transaction worth N17.2 billion was conducted on Monday, according to a regulatory filing seen by PREMIUM TIMES, implying that the majority owner of Geregu Power has splurged more than N36 billion on FBN Holdings in less than a week.
NigeriaDNA is a Direct News source that delivers the latest news, buzz, and stories from some of Nigeria’s most popular and trusted news websites. NigeriaDNA facilitates this by publishing headlines linking to breaking news and curated snippets from a diverse range of Nigerian credible, independent, and public-interest news sources. Our editors make it easy for Nigerians abroad and diaspora to discover top news stories in real-time as they're posted and directly linked to Nigeria's authoritative News Sources.
© 2024 All Rights Reserved | Curated and Powered by Nigeria DNA
