The was news yesterday by some foreign news agencies about Femi Otedola acquiring the majority shares of First Bank of Nigeria (FBN).
FBN Holdings has come out to state that it has not received any official notification of such acquisition.
Otedola is said to have been acquiring the shares of the bank through a vehicle, Calvados Global Services Limited.
It is also reported that other vehicles associated with Otedola must have been mopping ups shares.
FBNH currently has 34.7 billion of its shares floating freely meaning it is held by diverse shareholders. This makes the shares easy to acquires on the stock exchange.
In a statement signed by its Company Secretary, Seyi Kosoko, FBN Holdings PLC, on Friday, stated that its shares are publicly traded, adding that the sale and acquisition of shares is expected in the normal course of business.
According to Kososko,
“The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company.
“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business,” said the statement.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.
“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars.”
Foreign News agencies had reported that Femi Otedola, through his proxies and investing vehicles now owns over 5% of the bank. This sets him high enough to be the single largest shareholder of the bank.
The agencies report that already, shares of FBN Holdings have been mopped up of the last 6 months when the share price traded just above N7.
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