Femi Otedola’s 5 percent stake in FBN holding may have gained over N 1 billion in profit already when the stock reached its 52 weeks high

Femi Otedola bought 1,818,551,525 units shares of FBN holding, and we suspected that he started buying it at around N 7.40 to N 8.15 Naira per share.  Since the news broke that he was buying the finance company’s shares the stock price has gone up to 12.9 per share, a new 52 week high. The stock is now selling about N11 and some change at the time we published this article. 

Based on our calculation Femi Otedola has made a lot of money from buying the stock and we think his state in the bank is now worth around 2.34 billion Naira. 

If Femi Otedola bought 1,818,551,525 shares of FBN holding, this means he spent N 1.35 billion to purchase the stock. Right now, with FBN holding stock reaching N 12.9 share, Femi Otedola’s 5 percent stake in the bank is now worth N2.35 billion.

That's about N1 billion gain since he bought the stock.