Barbican Capital accumulated shares of about 4.8 billion units in the parent company of Nigeria’s oldest lender FirstBank translating to a...
, has yielded the top spot on the ownership ladder of FBN Holdings to Barbican Capital Limited, an affiliate of Oba Otudeko’s Honeywell Flour Mill, a regulatory filing showed on Saturday.
Barbican Capital accumulated shares of about 4.8 billion units in the parent company of Nigeria’s oldest lender FirstBank translating to a 13.3 per cent holding in the corporation, according to the document seen by PREMIUM TIMES.acquired a 7.6 per centHe displaced FirstBank’s Chair Tunde-Hassan Odukale to take the lead position but now holds a 5.
Trading in the shares of FBN Holdings has been brisk this week, with almost 5 billion units traded, 95 per cent of that transacted on Thursday alone.The buy pressure and the current currency revamp in Africa’s largest economy have catapulted the stock’s valuation to its peak level ever, with its market capitalisation now at N728.7 billion, making Nigeria’s fourth-biggest lender by market value.
Only Zenith Bank, Guaranty Trust Holding Company and Stanbic IBTC Holdings Company exceed the group valuation. In late April, Mr Otedola gave up the scramble for the top ownership of Nigeria’s biggest listed conglomerate Transnational Corporation of Nigeria to billionaire investor, Tony Elumelu, after clinging briefly to the second spot on the ownership hierarchy.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Account for billions donated to your foundation' - Daniel Regha drags DJ CuppyPopular social media critic, Daniel Regha has asked famous Nigerian disc jockey and producer, Florence Ifeoluwa Otedola, popularly known as DJ Cuppy to
Read more »
Stanbic IBTC Bank Underscores Expertise For Business GrowthStanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, underscores the significance of preparedness and expertise for Nigerian businesses aiming to
Read more »
'Our sovereignty is at stake' -- protesters picket EU office in Abuja over election report | TheCableSome protesters on the platform of Coalition of Civil Society Organization and Political Parties for Good Governance (CCSOPPGG) besieged the Abuja office of the European Union (EU) over its report on the just concluded general election.
Read more »
We'll remove bottlenecks to investments, reposition economy to favour youth - Tinubu'We have a responsibility to revolutionise the economy so that our youth can share in the nation's prosperity, otherwise, we are only waiting for the dreams to be charted.'
Read more »
'Account for billions donated to your foundation' - Daniel Regha drags DJ CuppyPopular social media critic, Daniel Regha has asked famous Nigerian disc jockey and producer, Florence Ifeoluwa Otedola, popularly known as DJ Cuppy to
Read more »
Jay-Z acquires Vinicius Jr's agencyRoc Nation Sports International (RNSI), owned by American billionaire hip-hop mogul Jay-Z, has completed the acquisition of Brazilian football agency TFM
Read more »