FBN Holdings employee buys shares worth N28.8m

Bisola David
Bisola David
First Bank restates commitment to support FMCG wholesalers

An employee of FBN Holdings Plc named Tolu Oluwole has purchased 1,600,000 shares for a total cost of N28.8 million.

According to Nairametrics, a notification of Directors Dealings was sent to the Nigerian Exchange Limited and signed by Company Secretary Adewale Arogundade includes this information.

The company reported that Tolu Oluwole bought 1,600,000 shares on August 23, 2023 at an average cost of N18.04 per share.

Recall that FBN Holdings’ shareholders had given their approval for the holding firm to raise an extra N150 billion for future expansion.

The ex parte order of temporary injunction from the Federal High Court in Lagos was issued on the company, but the consent was nonetheless provided at the most recent Annual General Meeting, which was held virtually.

FBN Holdings Plc revealed in its unaudited financial statement for Q2 2023 that pre-tax income increased five times to N150.1 billion (from N29.2 billion Q2 2022).

Its half-year profit before tax increased by 213% to N206.2 billion from N65.7 billion during the same period previous year because to the second-quarter profit growth.

The Bank Holding Company has also had its greatest half-year results since becoming public on the Exchange.

In the most recent results, the bank’s net gains from financial instruments, which improved from a loss of N3.5 billion in the second quarter, served as the primary driver of earnings.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *