Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
Recall that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim that billionaire businessman, Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.
The reports said he had acquired over two billion ordinary shares of the company.
The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.
It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.
“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. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.
“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.
FBN shares have witnessed large volumes of trading on the NGX Exchange this month.
On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted.
