Dangote Cement has returned 81.4 per cent in the last 52 weeks.

Billionaire tycoon Femi Otedola has racked up shares worth N6 billion of Dangote Cement Plc, a source with knowledge of the transactions told PREMIUM TIMES on Thursday.

Mr Otedola, the source said, acquired the shares in his name.

Sub-Saharan Africa’s largest cement maker Dangote Cement recently leapfrogged telecommunications powerhouse Airtel Africa to become Nigeria’s biggest company by market capitalisation, currently valued at N8.35 trillion.

Dangote Cement has returned 81.4 per cent in the last 52 weeks and has 17.04 billion outstanding shares.

Dangote Industries Limited, the conglomerate controlled by Africa’s richest person, Aliko Dangote, holds 85.8 per cent of the company’s shares.

To shore up the valuation of its stock, Dangote Cement completed two tranches of share repurchase between 2020 and 2022, during which it bought back 166.9 million shares.

Mr Otedola holds the majority stake in the power-generating company Geregu Power Plc, whose market value currently stands at N1.2 trillion.

In 2021, he acquired huge volumes of the shares of FBN Holdings, the parent company of Nigeria’s oldest commercial bank First Bank, in piecemeal via a series of off-market trades to become the biggest shareholder of the financial services group.

Mr Otedola holds 5.57 per cent of the shares of FBN Holdings, where he is the chair of the board of directors, according to the lender’s 2022 audited earnings report. FBN Holdings recently surpassed the N1 trillion mark in market value before easing to N967.4 billion on Thursday, shedding 2.53 per cent.

Last April, Mr Otedola purchased the shares of Transnational Corporation of Nigeria summing up to 2.6 billion units in various trades, translating to a substantial shareholding of 6.3 per cent, putting him on track to become the top shareholder of the conglomerate.

However, Tony Elumelu, the biggest shareholder of United Bank for Africa, swiftly accumulated more shares to increase his stake in the company from 2.07 per cent to 25.9 per cent to retain his place on the top spot of Transcorp’s ownership ladder.

Mr Otedola would later sell his stake to Mr Elumelu, giving up the top ownership race.

https://www.premiumtimesng.com/news/headlines/660274-otedola-acquires-n6-billion-worth-of-dangote-cement-shares.html

Investor Extraordinary, Otedola is a template every young man who desire soft life must emulate.

Nice one

Of course. Why won’t he? He wants to remain wealthy. He also has shares in the petroleum refinery.

Good

Omoh

Nice move
The rich keeps getting richer

Why some poor urchins are still stalk in tribalism

As in he's saying Aliko, let's be eating this money together. You are already Dangote and there's a Sapagote with Mr Macaroni. Let me be your Otèdóllar! As in authentic dollar

You gerrit, if you don't gerrit, forgerrabout it.

This man money long pass River Nile

How does this redice inflation by 500%? Does it make dangote cement toreduce back 2 1400 as b4?

I will buy the remaining share tomorrow

Hmmmmm

Big man doings

Okay

Money knows where Money is.

WAIT o... Between these men and our WizKids dem Davidos who get money pass? Who get sense pass.

I dey come. I dey Lapo office. Make me sef go buy

Investor

Baba olowo

Sell news....if you know,you know

In other words, he borrowed Dangote N6 billion.

Am not surprised, his father has already made way for him when they were young.

For those of you that did not know what am talking about, FEMI OTEDOLA father is a former governor of lagos state so don't be surprise if any governor son becomes a billionaire in Nigeria

Hi

I want to learn more about Nigeria stock market and how to trade or purchase stocks or shares from these companies. Who can show me the way or a link to a YouTuber that explains it better.

Creamypie:
How does this redice inflation by 500%? Does it make dangote cement toreduce back 2 1400 as b4?

You guys don't even know when to talk..

What's Otedola business with all the sh*t you wrote up there?..

2aces:
Investor Extraordinary, Otedola is a template every young man who desire soft life must emulate.

Emulate how? Nigerian billionaires are from families that were/are ruling class/elite alias old money.


Name 1 Nigerian Dollar billionaire that started from scratch or without government dashing their parent or grandparent an oil well. E no dey.

I dey come, I'll join you guys soon, I promise

Smart businessman!