Nodogragra4me:



Maybe somebody wan trigger buy and sell decision with that fake news

They didn't deny the story.. only said they're not aware. Big difference.. even if they are aware they can't admit it until they are formally notified by otedola..

Nodogragra4me:



How can the news trigger a run?

Nigerians have a way with words without actually knowing the true meaning.

A run indeed.

Nodogragra4me:



How can the news trigger a run?

I wanted to reply the dullard but my mouth too bad so I just ignored. The ignorance and lack of knowledge I see on this forum dey weak me.

PoeticMind:


Oga that's not what it means, FBN's tier 1 and tier2 capital has a combined value above N400billion. How exactly does the purported N30 billion worth of shares acquired by Otedola give him 51% shareholding interest? A bank like FBN can have it's majority shareholder with ownership interest of anywhere between 9-15%, which will automatically give the shareholder significant voting rights. Even Otudeko at the height of his powers as FBN's majority shareholder did not maintain up to 15% ownership interest in the bank. Folks should always get their facts right before posting so the public is not misled. Cheers!

This is what i saw in the news blog, and what i know is that acquiring majority shares of a company is having control over the company and having control over a company is having above 50% shares of that company.

adenigga:


Source: https://punchng.com/We-are-unaware-of-Otedolas-share-acquisitions-FBN-Holdings

Femi Otedola is not a billionaire in US$D.
He has about US$700 million.

Stop fooling ignorant Nigerians by calling these millionaires, billionaires.

I Know a Nigerian who does not even have up to US$3million and they are calling him a billionaire.
Federal Inland Revenue Service (FIRS) knows the real billionaires in Nigeria, not on paper.
Many of them rent private jets and claim that they have private jets when they cannot even afford the parking space for one private jet at the airport.

Mark Zuckerberg is richer than all of them combined.

omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares

First bank market cap is N430B. Did he spend N215B?.

One thing anyone cannot deny is the fact that concerning FBNH, some thing is in the offing especially against the backdrop of the persistent increase in the share price of the shares in addition to daily volume.being traded.

Denial left, right and center is normal.

pappilo:


I wanted to reply the dullard but my mouth too bad so I just ignored. The ignorance and lack of knowledge I see on this forum dey weak me.

Majority of Nigerians from the street to the internet are intellectually challenged.

omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares

So the market capitalization of FBNH is just slightly above N60 billion. That is a ridiculously low number. Makes the said acquisition unbelieveable.


We shall know the truth in due course.

Ntipia:
It's like first Bank is in trouble or something funny is about to happen to people's money. Make I jeje go commot my small money from there. Because na how it dey take start.

Bros calm down it's Firstbank established in 1894 not piggyvest.

Hope you get my point.

I knew the acquisition news wasn't real when I read that Otedola acquired N30billion shares of First Bank making him the highest shareholder. That amount is too small to make someone the highest shareholder in an organization like First Bank.

DubaiLandLord:
In the earlier report, a lot of details is missing.

They didn't tell us the percentage of the share Otedolar have.

it said 50% I think

IbileIfe:

Majority of Nigerians from the street to the internet are intellectually challenged.

Exactly.......

BABANGBALI:
Otedola is just a chair holder in the bank

English self you mean he only owns an ordinary chair used in sitting down?

lomprico:


it said 50% I think

I've check the article again, I can't find where it states the figure you're quoting.

MartinsD12:

English self you mean he only owns an ordinary chair used in sitting down?

Lol

omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares

The highest share holder of FBN before now is Oba Otudeko with just 1.5% of the shares. That's how diverse FBN shares are held.

Anyone that acquires more shares than Otudeko becomes the highest shareholder. It could be as low as having just 1.6% of the shares

DubaiLandLord:
Lol

Nairalanders no go kill pesin here with English grammar

MartinsD12:

English self you mean he only owns an ordinary chair used in sitting down?

English Na wahala o......

DubaiLandLord:
I've check the article again, I can't find where it states the figure you're quoting.

ok

MartinsD12:

Nairalanders no go kill pesin here with English grammar

Make dem no kill person o.......

adenigga:

English Na wahala o......

of course Otedola only only an ordinary chair in first bank and not shares, not to talk of being a major share holder, but the problem is we don't know whether the sitting chair Otedola owns is wolden chair or innoson plastic chair

adenigga:

Make dem no kill person o.......

Otedola has been disgraced here

[quote author=Dialpad post=106983724]If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess[/quote
That is just a little over 5% of the quoted shares of FBNH.No other person has that much,so he became the person with the highest number of FBNH shares.

Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess

Are you sure ?

smithoo:
FBN holdings will get back to us and confirm OTEDOLA is now the majority shareholder in FBN.

Diamond denied Access bank takeover but we all know the history now.

It a trade mark to deny report to avoid a run on the bank but laslas, they will acknowledge and manage the situation well.

they didn't deny it, only said they have not been informed as stipulated in the regulation of publicly traded companies. It is either the said individual acquired the shares through various third parties or it is not true, there is no way a single entity acquires a huge block of shares within a short period without interested parties knowing.

Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess

it depends on the percentage share, if every other investor owns not more than 2% and an individual acquires 3%, he effectively becomes the largest shareholder

topgear:


Someone who can buy your whole Village

This is the mentality that allows the rich and the government to destroy us.

Continue.

SmartPolician:


I don't think so.
A bank is not a political party or this yeye government.
Credibility matters to them.
I think we were fed with fake news.

BTW, what's the update on the GTB vs Innoson Motors brouhaha? I don't want to believe that it was settled without the media doing a proper follow-up. That news dominated the media for a while and nearly caused bad blood between two of Nigeria's major ethnic groups.

The judgement debt have accumulated to over #32b innosson is now planning to take over the gtb any moment from now.

Jackossky:


Not really.

In business, being a majority share holder means you are the only one with the highest shares. It could be a 1% margin; just as long as you are the highest. You grab?



Edited: I am seeing some articles online that says it must be above 50%. Will get back to you on this.


Re-edited: You are actually right. I couldn't find a name for someone with the highest shares ( which is less than 50%)

Cheers bro.

JOemmy:


The judgement debt have accumulated to over #32b innosson is now planning to take over the gtb any moment from now.

Story for the deities

They probably went for out-of-court settlement.

SmartPolician:


Story for the deities

They probably went for out-of-court settlement.

They have already done that before innosson asked them to pay him #6b from the initial #9b but gtb was insisting on paying #5b so the matter is not yet resolved.