🔴 FIRST HOLDCO is trading 3.96% down today on profit-taking after Otedola’s major stake increase

FIRST HOLDCO is trading 3.96% down today at NGN 119.95, pulling back as investors take profits following billionaire Femi Otedola’s massive share acquisition.

• Otedola acquired approximately 1.779 billion additional shares via Calvados Global Services at NGN 124.90 per share, a transaction valued at roughly NGN 222.21 billion.
• The purchase has lifted his total ownership stake to approximately 26%, solidifying his position as a major shareholder.
• The current price action is viewed as market consolidation and profit-taking following the sharp rally triggered by this significant ownership change.