First HoldCo Plc has disclosed that Calvados Global Services Limited, a company related to major shareholder Mr. Olufemi Otedola, acquired shares worth N14.8 billion.
According to a disclosure published on the Nigerian Exchange, the company purchased 369,986,122 shares of First HoldCo at N40.06 per share.
The deal, tagged NGFBNH000009, was executed on 18 December 2025, driving the total daily trading volume to 385.6 million shares.
According to First HoldCo’s latest financial statements filed on the Nigerian Exchange, Mr. Femi Otedola holds 3,491,125,586 indirect units, representing 8.34% of the company.
He also directly owns 3,251,346,245 shares, or 7.76%, making him one of the company’s substantial shareholders above 5%, alongside Barbican Capital Limited and RC Investment Management Limited.
Following the recent purchase by Calvados Global Services Limited, his indirect holdings are expected to rise to 3,861,111,708 units, or 9.22%.
First HoldCo has seen two other share purchases since releasing its nine-month financials in late October 2025, including:
These acquisitions are likely a response to the solid performance reflected in First HoldCo’s nine-month financial results.
First HoldCo reported a profit before tax of N566.537 billion for the nine months ended 30 September 2025, down 7.26% from N610.86 billion in the same period last year.
Despite the decline, the Group’s core performance remained strong.
For the third quarter alone, the Group posted a pre-tax profit of N210.388 billion, up 5.79% from N198.871 billion in Q3 2024.
Interest income rose sharply 40.4% YoY to N2.29 trillion (9M 2025) from N1.63 trillion (9M 2024), fueled by higher yields and growth in volumes:
On the non-interest income side, net fees and commissions rose 26.86% YoY to N260.477 billion, supported by:
On the balance sheet, total assets stood at N26.40 trillion, up 7.84% YTD, supported by loan growth and expansion in cash reserves and investment securities.