October 24, 2021 / 09:50 AM / by Proshare Research/ Header Image
Credit: FBNH & EcoGraphics
The management of FBN Holdings Plc has written officially to the Nigerian Exchange notifying of the acquisition of substantial shareholdings in the Holding Company by a new investor.
According to the released dated October 23, 2021 and published on the Exchange website, FBN Holdings Plc stated that it received a notification from APT Securities and Funds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company's issued share capital of 35,895,292,791.
Furthermore, it stated that the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07%.
The above press release follows the earlier release from FBN Holdings Plc where it stated that it is yet to get a notification from any individual mentioned in the series of media reports that a certain individual has acquired significant shareholding interest in FBN Holdings Plc therefore making him the majority shareholder in the Company.
It will be recalled that Proshare had released a commentary on October 17th, 2021 titled FBNH Investors Chase Value - Understanding the Holdco's 34.78% Share Price Rise in 2 Weeks wherein it was stated that the shares of FBN Holdings has risen by 34.78% in 2 weeks and that the huge FBNH share purchases in recent weeks represent a strategic move by an experienced power broker. The commentary can be accessed in the link above in this paragraph.
Proshare's commentary on the substantial share acquisition will follow...
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