First HoldCo Plc has disclosed that Anil Dua, a non-executive director on the board of its banking subsidiary, First Bank of Nigeria, acquired shares valued at N177.9 million. The transaction, referenced under code NGFBNH000009, was detailed in a filing signed by Abiola Baruwa, the Group Company Secretary.
According to the disclosure, the acquisition involved the purchase of 2,558,259 ordinary shares at N69.56 per share on May 11, 2026, on the Nigerian Exchange in Lagos. Following the acquisition, the stock closed at N74.55 per share, reflecting a 7.17% gain above the director’s purchase price. The overall daily gain stood at 9.96%, with trading volume also surging.
Trading data from May 11, 2026, indicates that more than 148 million shares of First HoldCo exchanged hands on the Nigerian Exchange, ranking third behind Access Holdings (172 million) and Veritas Kapital (194 million). The stock opened the year at N47.90 and climbed to a 2026 high of N77 on April 22 before retracing to N60.05 per share on May 5, 2026.
The renewed buying interest followed the group’s Q1 2026 results, which showed pre-tax profit rising 72.20% to N321.1 billion from N186.4 billion in Q1 2025. Meanwhile, non-interest income rose 111% to N219.22 billion in Q1 2026, driven by higher net fee and commission income alongside stronger gains from investment securities sales.
In addition to its Q1 2026 results, First HoldCo Plc announced it is seeking shareholder approval to raise up to N253 billion at its 14th Annual General Meeting on May 29, 2026, targeting a N1 trillion capital base. The company stated that the target paid-up capital builds on a combined share capital and share premium, aimed at strengthening regulatory and balance sheet position. According to the board, the transaction could be implemented through a public offer, private placement, rights issue, bonus issue, or scrip dividend, subject to final approvals.
In related market developments, Busha unveils New Identity as part of its strategic rebranding efforts, while Futa Withdraw Certificates for certain academic programs. Elsewhere, Chelsea Manager Maresca has commented on the team’s recent performance, and a USA exhibition: Christmas Comes event has drawn attention. On the currency front, Naira Strengthens N1,424.5/$ in recent trading sessions, reflecting improved liquidity in the foreign exchange market.
Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.
