Nigerian billionaire Femi Otedola speaks on FirstHoldCo’s inclusion in FTSE Frontier 50 Index
FirstHoldCo has joined the FTSE Frontier 50 index, with chairman Femi Otedola calling it a defining milestone for the banking group.
Femi Otedola
FirstHoldCo and Dangote Cement, controlled by Forbes-ranked billionaires, join the FTSE Frontier 50
FirstHoldCo and Dangote Cement join the FTSE Frontier 50, a far more selective index than the broader series 10 Nigerian firms entered.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Dangote Cement, Nestlé Nigeria and First HoldCo are joining the FTSE frontier index
FTSE Russell named 10 Nigerian stocks newly eligible for its frontier index series, including Dangote Cement, First HoldCo and MTN Nigeria.
Nigerian billionaire Femi Otedola's First HoldCo stake now worth $1.4 billion at record high
First HoldCo hit an all-time high of N159.90 on Tuesday, lifting Femi Otedola's holding to about N1.97 trillion, roughly $1.42 billion.
Nigerian billionaire Femi Otedola's 'Making It Big' turns one, 8 lessons from the bestseller
Making It Big turned one on Aug. 18. It won Axiom gold in the US, placed second in London, and Otedola is writing the sequel.
Nigeria’s Femi Otedola lost $1.2 billion, now he’s Africa’s fastest-growing billionaire
Femi Otedola's fortune rose 36% to $1.9 billion since March, faster than any other African billionaire, on a single concentrated bet on First HoldCo.
Nigerian billionaire Femi Otedola spends $9 million more on First HoldCo shares
Femi Otedola bought 95.7 million more First HoldCo shares at N131.48 on Monday, paying 6.1% less than he did ten days ago as the stock retreated.
Billionaire Femi Otedola spends another $14.9 million on First HoldCo as stake hits 27.5%
Femi Otedola bought 147.7 million First HoldCo shares at N140, lifting his stake to about 27.5% and his holding past 12.2 billion shares.
Billionaire Femi Otedola spends additional $13 million on First HoldCo shares
Femi Otedola bought 138 million more First HoldCo shares for about $13 million, taking his holding to 12.09 billion shares worth $1.14 billion.
Nigerian billionaire Femi Otedola's First HoldCo stake crosses $1.2 billion at record N140
Otedola's 11.96 billion First HoldCo shares are worth about $1.2 billion after the stock hit a record N140 on Thursday.
A vehicle that bought First HoldCo shares at ₦31 is selling them at ₦110
RC Investment Management is selling 10.4 billion First HoldCo shares at ₦110, having bought them at ₦31 last year. The bank receives no proceeds.
Nigerian billionaire Femi Otedola signals he wants 51% of First HoldCo after investing $432 million
Femi Otedola says his investment threshold is always above 51% and that he is on the same trajectory at First HoldCo, where he now holds 25.8%.
Billionaire Femi Otedola gains $106 million in four days as First HoldCo hits record
First HoldCo touched a record ₦137.20 on Monday, taking Femi Otedola's stake to about $1.18 billion, a paper gain of $106 million in four days.
Billionaire Femi Otedola's First HoldCo to pay out 60% of profit as dividends
First HoldCo will pay out at least 60% of profit as dividends, a policy worth roughly ₦83 billion to chairman Femi Otedola on half-year earnings.
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.