Otedola: Shareholders, analysts foresee spike in FBNH share price - Punch Newspapers

Shareholders and analysts in the Nigerian capital market have projected a rise in the share price of FBN Holdings Plc as the tussle for controlling interest by the major investors in the company looks set to heighten.

The President of the Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, told our correspondent in a telephone interview that the situation implied a struggle for control of FBN Holdings and its subsidiary, First Bank Nigeria Limited.The Chief Executive Officer of Enterprise Stockbrokers, Mr Rotimi Fakayejo, said he expects a rise in the demand for the shares of FBN Holdings.

FBN Holdings’ share price closed at N12.1 on Friday, up by 61.33 per cent from N7.55 on September 28, when its shares began a steady climb. “Firstly, with the sell-off of Oba Otudeko’s stake to Otedola, the bank’s non-performing loans will reduce. Also, the sale of Airtel Africa Plc, of which FBNH is among those with high stakes, will provide more cash for investments,” he said.

Meanwhile, the President of Bank Directors Association of Nigeria, Mustafa Chike-Obi, has advised the directors of FBN Holdings to work with the holding’s new investor, Otedola, saying there is a need to welcome his investment.

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.

We’re Yet To Receive Notice Of Otedola’s Majority Shares – FBNHFollowing the report of the founder and chairman of the Geregu Energy Group, Femi Otedola, acquiring the majority shares of FBN Holdings (FBNH) Plc, the
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Otedola acquires major stake in FBN Holdings - Punch NewspapersOtedola acquires major stake in FBN Holdings But what about his outstanding debt obligations that is held by Asset Management Corporation of Nigeria.?
Source: MobilePunch - 🏆 8. / 63 Read more »

FBN makes a U-Turn, confirms Otedola acquired ‘substancial’ stake in holdings - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »

NGX confirms Otedola acquires 5.07 % stake in FBNHFemi Otedola, a billionaire businessman, has acquired five per cent stake in First Bank of Nigeria, making him the bank’s single largest shareholder following the crisis that rocked the Board of Directors recently.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

FBN Holdings denies Otedola’s acquisitionFBN Holdings (FBNH) Plc has denied the purported acquisition of a majority stake in the company by Mr Femi Otedola.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Prices of cooking gas rose by 21.42% in September – NBS - Punch NewspapersThe most widely read newspaper in Nigeria October nko? Thank you charcoal We are getting there as promised, Nigeria will know the different.
Source: MobilePunch - 🏆 8. / 63 Read more »