Barbican Capital Limited Sells 15% Shareholding in FirstHoldco
Barbican Capital Limited, a company related to First Holdco Plc’s former chair, Oba Otudeko, has offloaded its approximately 15.01% shareholding in the group.
According to regulatory filings on the Nigerian Exchange (NGX), Barbican Capital sold 6,314,116,229 at N31.00 in a block transaction that failed to negatively affect First Holdco Plc’s market value.
The transaction that happened was reported to be conducted outside the Nigerian Exchange trading platform, and it is noted to be a truce between warring influential shareholders of First Holdco.
On Wednesday, First Holdco’s market value surged as its share price increased from N29.3 to N32.2 following a huge volume transacted at N31. First Holdco, however, debunked information circulating that its chairman, Femi Otedola, was the responsible buyer for the huge shares offloaded by Otudeko’s Barbican Capital Limited.
“We wish to state that the chairman of FirstHoldCo, Mr. Femi Otedola, did not purchase any of the shares in question, nor did the federal government of Nigeria or any of its agencies acquire the shares in trust.
“The sellers were Barbican Capital Limited & affiliates and Leadway Group & affiliates, and the buyer was RC Investment Management Limited,” details from the regulatory filing read. #Barbican Capital Limited Sells 15% Shareholding in FirstHoldco GCR Upgrades Globus Bank Ratings with Stable Outlook
