Nigeria, Aug. 18 -- Femi Otedola, the chairman of First HoldCo Plc, acquired 147.7 million new shares in the banking group on Monday, taking his stake in the company to 27.49 per cent.

In a transaction announced in a regulatory filing signed by the group's Company Secretary, Abiola Baruwa, Mr Otedola purchased 147,737,699 additional shares at N140 per share.

The additional shares, which represent 0.33 per cent of the company's outstanding shares, were purchased through Calvados Global Services Limited and valued at N20.7 billion.

Following the purchase, Mr Otedola now holds a total of 12.05 billion shares in the financial institution, representing about 27.49 per cent of the company.

The First HoldCo chair's total shareholding in the ...