As earlier reported by Nairametrics, Barbican Capital has acquired 4,770,269,843 units of FBN Holdings, giving it a 13.3% stake in one of Nigeria’s oldest banks.
This was confirmed via a press release seen by Nairametrics on Friday, July 7th 2023.
See excerpt
- “NOTIFICATION OF ACQUISITION OF SUBSTANTIAL SHAREHOLDINGS IN FBN HOLDINGS PLC
- This is to inform the public and our stakeholders that the Company received a notification dated July 7, 2023 from Honeywell Group Limited that Its affiliate, Barbican Capital Limited has acquired an aggregate of 4,770,269,843 units of shares from the Company’s issued share capital of 35,895,292,791, as at the above referenced date.
- Based on the foregoing, the equity stake of Barbican Capital Limited In the Company is 13.3%.”
The press release was yet to appear on the website of the NGX as of midnight Friday 7th of July.
Back story
Nairametrics first reported that about 4.7 billion units of FBN Holdings which was sold on the floor of the Exchange on Thursday 6th of July was sold to Barbican Capital Ltd.
- Barbican Capital Limited was incorporated on the 9th of March 2023 with registration number RC 6900918. The person listed as significant control is Oyeleye Foluke and Otudeko Obafemi Adedamola.
- Nairametrics also reported the shares were mopped up through “26 proxy shareholders” allegedly related to Oba Otudeko the former chairman of the bank.
- We have also been reliably informed that some of the proxy shareholders include Bethlehem Properties Limited, Musa Haruna Foods, Yazidu Zakari Ventures Limited, Thornbull Securities Limited, and Moore House Limited.
- Others include Impressario Limited, Mahmoud Alheri Limited, Timothy Banfield Limited and The WhitBread Limited.
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