Otedola’s N222bn First HoldCo Buy Signals Strong Outlook – Analysts

The chairman of First Holdco Plc, Femi Otedola’s latest N222.20 billion investment in the Company has been described by market analysts as a strong vote of confidence in the financial services group’s transformation strategy and future earnings potential.
According to a regulatory filing submitted to the Nigerian Exchange (NGX), the chairman acquired an additional 1.77 billion ordinary shares through his investment vehicle, Calvados Global Services Limited. The purchase raised his total holding to 11.77 billion shares, equivalent to 25.87 per cent of the company’s issued share capital.
The deal comes barely a week after Otedola bought 706.13 million shares worth N77.58 billion on July...