First Bank’s holding company, FBN Holdings Plc, says it will sell shares recently transferred from Barbican Capital, a firm linked to businessman Oba Otudeko, through an unnamed special purpose vehicle.
Managing Director Wale Oyedeji disclosed this on Monday during an investor call in Lagos.
“We will be disposing those shares, and there are a range of options available to us,” Oyedeji said. “Ultimately, you will see that those shares will be disposed in the market,” he added, without providing a timeline.