Otedola Boosts Stake In FirstHoldCo With N2bn Share Purchase

The president of First Holdco Plc, Femi Otedola, has accrued his involvement successful the institution by acquiring further shares worthy N2.01 billion.

According to Nigerian Exchange Limited (NGX) filings, Otedola connected September 23 bought 39.313 cardinal shares astatine N31 per share; woody valued astatine N1.21 billion.

Also the aforesaid time and astatine the aforesaid terms of N31 per share, Calvados Global Services Limited, a institution related to Otedola, acquired 25.565 cardinal mean shares worthy N792.5 million.

The billionaire’s nonstop shareholding has present risen to 3.251 cardinal units (7.77 percent ) pursuing the latest acquisitions, portion his indirect holdings present basal astatine 3.491 cardinal units (8.34 percent).

FirstHoldCo shares had reached a 52-week precocious of N37.5 per stock arsenic against a 52-week debased of N23.05.

Otedola’s caller involvement holdings comes astir 3 months aft Oba Otudeko, the laminitis of Barbican Capital Limited and president of Honeywell Group, and Tunde Hassan-Odukale, radical managing manager of Leadway Assurance, sold implicit 10 cardinal shares held successful First HoldCo.

Meanwhile, the Nigerian equities marketplace yesterday broke the week’s bearish inclination with a summation of N280 billion.

The All Share Index (ASI) gained by 432.94 points, representing a maturation of 0.31 per cent to adjacent astatine 141,149.04 points. Accordingly, marketplace capitalisation roseate by N280 cardinal to adjacent astatine N89.343 trillion.

The upturn was impacted by gains recorded successful mean and ample capitalised stocks, amongst which are; Oando, Stanbic IBTC Holdings, Dangote Sugar Refinery, MeCure Industries and Guaranty Trust Holding Company (GTCO).

MeCure Industries recorded the highest terms summation of 9.89 per cent to adjacent astatine N26.10, per share. Oando followed with a summation of 9.59 per cent to adjacent astatine N49.00, portion McNichols roseate by 9.31 per cent to adjacent astatine N3.64, per share.

Chams Holding Company went up by 9.24 per cent to adjacent astatine N3.43, portion Legend Internet appreciated by 9.18 per cent to adjacent astatine N5.35, per share.

On the different hand, Eterna led the losers’ illustration by 10 per cent, to adjacent astatine N27.90, per share. Sovereign Trust Insurance followed with a diminution of 4.84 per cent to adjacent astatine N2.95, portion The Initiates Plc (TIP) declined by 3.84 per cent to adjacent astatine N12.02, per share.

Caverton Offshore Support Group depreciated by 3.76 per cent to adjacent astatine N6.40 and Fidson Healthcare declined by 3.72 per cent to adjacent astatine N41.40, per share.

The full measurement traded precocious by 1,137.15 per cent to 5.475 cardinal units, valued astatine N419.730 billion, and exchanged successful 20,399 deals. Transactions successful the shares of Unity Bank topped the enactment illustration with 4.001 cardinal shares valued astatine N12.724 billion. Aradel Holdings followed with 693.251 cardinal shares worthy N388.205 billion, portion Consolidated Hallmark Holdings traded 333.206 cardinal shares valued astatine N1.255 billion.

Sterling Financial Holdings Company traded 104.906 cardinal shares valued astatine N771.830 million, portion Zenith Bank sold 45.527 cardinal shares worthy N3.144 billion.