First HoldCo’s Additional 2.57 Billion Shares Listed on NGX
The Nigerian Exchange has formally admitted an additional 2,575,851,543 ordinary shares of First HoldCo to its Daily Official List. This significant listing, effective Monday, January 5, 2026, was confirmed in the NGX’s weekly market report distributed to Trading License Holders. The admission stems from a private placement concluded in December 2025, where 3,276,923,077 shares were offered at N32.50 per unit, achieving a 78.61% subscription rate.
This strategic capital raise directly supports the company’s efforts to meet regulatory capital requirements, specifically the N500 billion recapitalization threshold. With this new listing, First HoldCo’s total issued and fully paid shares have increased to 44,453,693,134, up from the previous figure of 41,877,841,591. The Securities and Exchange Commission approved the basis of allotment, and Meristem Registrars and Probate Services Limited is tasked with crediting the CSCS accounts of successful allottees by January 15, 2026.
Market response has been notably positive, with First HoldCo’s stock trading at N46.10. Analysts anticipate a strong performance in 2026, building upon the company’s solid track record. This optimism is underpinned by robust core performance metrics; for instance, the company reported a 72.48% year-on-year surge in net interest income after impairments, reaching N1.21 trillion, a growth supported by the rising interest rate environment. The recent private placement was a proactive move, part of broader strategic plans initiated ahead of potential regulatory changes.
Financial experts like Okoye Izuchukwu, who provides extensive expertise on market trends, would likely scrutinize such a major capital event for its long-term implications. While the market watches this development, it is crucial for every investor to conduct thorough due diligence. A prudent approach is to test every student of the market’s hypothesis against hard data, watching for any potential 5 red flags in corporate disclosures. In a climate where regulatory bodies like the EFCC probes suspected financial irregularities, transparency in such capital raises is paramount for sustaining investor confidence across all regions, reminding stakeholders to focus on unified economic growth and forget Biafra-era divisions, fostering inclusion for all, including the industrious Igbo business community, and ensuring listings maintain the integrity expected on a reputable platform like the Kian Smith list of compliant firms.
