Otedola Sells 834m Units Of His FBN Holdings Shares - 9jaflaver




Light Dark

WELCOME TO 9JAFLAVER



SEARCH ANYTHING BELOW:-



Otedola Sells 834m Units Of His FBN Holdings Shares



FBN Holdings said Otedola sold about 834,939,764.00 units representing about 30% of his shareholdings in the bank holding company.

Nigerian billionaire, Femi Otedala has sold 30% of his shares in FBN Holdings.

The sold shares represent about 834 million units of his shares.

The latest development forced shares of FBN holdings to drop in the last 72 hours.

The company made the transactions known in its insider dealing notification to the Nigerian exchange.

FBN Holdings said Otedola sold about 834,939,764.00 units representing about 30% of his shareholdings in the bank holding company.

According to filings posted on the Nigerian Exchange’s website, Otedola sold 200,000,000 units at N11.10 on June 6.

The company said Otedola sold other shares on the same day via entities related to him, including 170,000,000 units at N11.14 via Primrose Global Concept, 53,000,000 units at N11.10 via Impetus Synergy; 120,000,000 units at N11.10 via Wells Properties & Investment Company Limited and 174,939,764 units at N11.14 via Shetland Global.

It is understood that the deal is valued at about FBN Holdings’ share price which has traded within N11-N12 since Otedola became the majority shareholder, fell by 3.11% on Wednesday, dropping to N10.9 at the close of business.

According to Daily Trust, the transaction which the billionaire did through one of his stockbrokers, Cardinal Stone Securities has reduced his shareholding from about 7.57% to about 5.24%.

The newspaper reported that the shares were sold to a foreign buyer, thereby, ruling out insinuations that it was bought by another major shareholder.

Recall that the audited accounts of First bank for the year ended December 2021 confirmed Otedola as the single largest shareholder, owning 2,717,282,140 shares or 7.57% of the bank.

The disclosure in the audited accounts clarifies a protracted shareholder squabble over who was the majority owner of the financial institution.


 Whatsapp  Twitter  Facebook


2023 PRIMARY ELECTION: See Live Analytics On Party Candidates [JOIN HERE]



CLICK HERE TO COMMENT ON THIS POST

CLICK HERE TO READ COMMENTS

Promote Music, Video, Comedy Skit On 9jaflaver
Call: +2348143945195 Or +2348173379226

Whatsapp: +2348143945195












Comment Below:-

Enter Name Below (Optional)

         
Enter Comment Below:-



CAN'T FIND THE SONG YOU ARE LOOKING FOR? CLICK HERE TO USE 9JAFLAVERSONGFINDER TO FIND ANY SONG YOU ARE LOOKING FOR







DMCA.com Protection Status

© 2014-2022 9jaflaver. All Rights Reserved.

About us||DMCA||Privacy Policy|Contact us

Advertis|Request For Music

9jaflaver is not responsible for the content of external sites.