The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Top News

FBN Holdings Denies Otedola’s Acquisition

Next Edition by Next Edition
October 23, 2021
in Top News
FBN Holdings Denies Otedola’s Acquisition
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

FBN Holdings (FBNH) Plc has denied the purported acquisition of a majority stake in the company by Mr. Femi Otedola.

The company in a statement pasted on the website of the Nigerian Exchange (NGX) Ltd. said it was yet to receive any notification of the purported acquisition.

You might also like

FMC Abuja’s 1st Living-Donor Kidney Transplant Successful

FG Clears Two Million Households For Cash Transfer

Lagos Begins Enforcement Of Ban On Single-User Plastics July 1

The statement signed by the FBNH Company Secretary, Mr. Seyi Kosoko, said the company it would notify the appropriate agencies and authorities whenever it received any notice of significant shareholding by the shareholders and its registrars.

“The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business,” said the statement.

It added that the company operated in a regulated environment, which required notification of significant shareholding by shareholders to the company, where shares were held in different vehicles, further to which the company would notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars,” continued the statement.

READ ALSO: 1 Person Dies In Youth-Ebubeagu Shootout In Ebonyi Community

NAN reports that there were reports that Otedola had emerged the majority shareholder of FBNH following months of slow and meticulous purchase of the company’s shares on the NGX.

A source who pleaded anonymity claimed Otedola was behind a massive mop-up of the shares of FBNH, which would result in his becoming the single majority shareholder of the company.

Also, a top capital market operator who pleaded anonymity, said the statement of FBNH should trigger investigation by regulators to know the correct position, protect market integrity and avoid share manipulation. (NAN

Tags: FBNFXotedolaproperty
Next Edition

Next Edition

Recommended For You

FMC Abuja’s 1st Living-Donor Kidney Transplant Successful

FMC Abuja’s 1st Living-Donor Kidney Transplant Successful

  The Federal Medical Centre (FMC) Abuja, has successfully performed its first living-donor kidney transplant. Living-donor kidney transplant usually involves a donated kidney from someone the recipient knows....

Conditional Cash Transfer: 283,003 Lagos Residents To Receive N25,000 From FG

FG Clears Two Million Households For Cash Transfer

The Federal Government has initiated a revalidation exercise for the National Social Register as part of its ongoing efforts to enhance the effectiveness of the conditional cash transfer...

Lagos Reads Riot Acts To Operators Of Events Centres

Lagos Begins Enforcement Of Ban On Single-User Plastics July 1

Lagos State Government will begin enforcement of ban on single-use plastics from July 1, 2025. This was disclosed in a terse post issued on X by the Commissioner...

New Police

Police Arrest Fake EFCC Operatives For Abducting Students In Niger

The Niger State Police Command has arrested three suspects impersonating operatives of the Economic and Financial Crimes Commission (EFCC) for abducting and extorting students in Lapai. The suspects,...

Next Post
Lagos NYSC Boss Warns Corps Members To Steer Clear Of Hate Speech, Social Media Abuses

3 Corps Members Get Service Period Extensions As 1,050 Pass Out In Sokoto




Related News

COVID-19: Edo Discharges 130 Patients

COVID-19: Edo Discharges 130 Patients

7 Burnt To Death On Sagamu-Benin Expressway Accident

7 Burnt To Death On Sagamu-Benin Expressway Accident

Chris Giwa dethrones Pinnick at NFF

Chris Giwa dethrones Pinnick at NFF




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited