Experts have expressed excitement over the strategic investment made by Honeywell Group in First Bank of Nigeria Holding Plc.
We bring you a report that an early hour accident involving a truck conveying food stuff along Ikorodu Maryland axis caused gridlock today Friday.
The grid lock caused a lot of loss of productive hours as it occurred during morning rush hours.
Our reporter Ekwegh Stephanie who witnessed the incident reports that, Men of the Lagos State Traffic Management Authority and the police are seen coordinating the flow of traffic at the time of this report.
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Experts have expressed excitement over the strategic investment made by Honeywell Group in First Bank of Nigeria Holding Plc.
The Experts strongly believe that the impressive track record of the Honeywell Group in every sectors it has interest in, is a guaranty that it will deliver value to shareholders.
A financial analyst, John Okoye believes the recent surge in FBN Holdings Plc's share price reflects the positive sentiment surrounding the stock and the market as a whole.
He says it demonstrates increased investor confidence and optimism.
FBN Holdings Plc is the parent company of Nigeria's oldest bank, First Bank.
You need to know that Honeywell recently made a strategic investment in FBN Holdings through its affiliate company, Barbican Capital Limited.
Through the latest intervention by Barbican, the company increased its stake to an impressive 15.1 per cent.
In what analysts have termed the largest single largest transaction in 2023, Honeywell Group purchased over 4.7 billion additional shares on Thursday, July 6, 2023.
The company statement says it had notified FBN Holdings Plc and regulatory authorities of the acquisition of 4.7 billion shares of FBN by its affiliate company, Barbican Capital Limited.
This purchase is in addition to previously disclosed interests by HGL’s affiliates.”
The 50-year-old company has purchased shares worth over N105 billion as of today.
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