FirstHoldCo Share Disposal Advances As Investor Demand Remains Strong
FirstHoldCo Plc has recorded significant progress in the ongoing disposal of its substantial shareholding held by RC Investment Management Limited (RCIM), with strong investor demand supporting the transfer of the shares to subscribers.
The transaction involves approximately 10.43 billion FirstHoldCo shares acquired by RCIM on the Nigerian Exchange Limited (NGX) in July 2025 under a Central Bank of Nigeria (CBN)-approved shareholder divestment arrangement. RCIM acquired the shares in its capacity as an independent Bridge Holder for subsequent disposal to investors.
The company disclosed that approximately 5.2 billion shares have so far been crossed to subscribers, with additional crossings expected as the necessary regulatory approvals are secured and outstanding execution processes are completed.
The transaction is structured as a secondary-market sale of existing shares through the NGX. Consequently, the significant trading volumes recorded in FirstHoldCo shares reflect, to a considerable extent, the ongoing transfer of the RCIM shareholding to investors.
The strong subscription and successful absorption of a sizeable block of shares underscore sustained investor confidence in FirstHoldCo, supported by the Group’s financial performance, underlying fundamentals and long-term growth prospects.
The Group’s market performance has also strengthened its investment appeal. On a total shareholder return basis, FirstHoldCo ranks first among the FUGAZ banking groups, having delivered returns exceeding 200 per cent from the beginning of January 2026 to date.
The progress recorded in the share disposal represents a significant milestone in the orderly completion of the divestment programme, while facilitating a broader distribution of FirstHoldCo shares among investors.
The transaction is expected to further expand the Group’s investor base and support greater participation in its equity, as the ongoing transfer of the shares progresses towards completion.
