First HoldCo’s additional 2,575,851,543 ordinary shares of 50 kobo each were officially admitted to the Nigerian Exchange (NGX) Daily Official List on Monday, January 5, 2026.
This was disclosed in a section of the NGX weekly market report on stock performance, addressed to Trading License Holders and seen by Naijaonpoint.
The admission follows a December 2025 private placement of 3,276,923,077 ordinary shares at N32.50 each, of which 78.61% was subscribed.
According to the NGX report, the newly listed shares bring First HoldCo’s total fully paid units to 44,453,693,134 ordinary shares, up from 41,877,841,591.
The Securities and Exchange Commission (SEC) approved the basis of allotment, and Meristem Registrars and Probate Services Limited has been mandated to credit the CSCS accounts of successful allottees by January 15, 2026.
The capital raise was part of the company’s strategy to meet the N500 billion recapitalization threshold.
First HoldCo’s stock is currently trading at N46.10, with the market anticipating a strong performance in 2026 following its impressive run in 2025.
Core performance remained solid, however, with net interest income after impairments jumping 72.48% year-on-year to N1.21 trillion, supported by rising interest rates.
Naijaonpoint reported that First HoldCo was preparing for a major capital raise via private placement as part of its strategic plans ahead of potential regulatory changes.