FIRST HOLDCO PLC has announced the successful completion of its private placement of 3,276,923,077 ordinary shares of 50 kobo each, issued at a price of ₦32.50 per share.
The transaction, which was undertaken in line with applicable regulatory approvals, represents a significant capital-raising exercise for the financial holding company. Proceeds from the private placement are expected to strengthen the group’s capital base and support strategic growth initiatives across its subsidiaries.
Following the allotment, the newly issued shares will rank pari passu with existing ordinary shares of the company in all respects, including dividend rights.
FIRST HOLDCO stated that the private placement reflects continued investor confidence in the group’s long-term strategy, governance framework, and earnings outlook, particularly within Nigeria’s evolving financial services landscape.
The company also confirmed that relevant post-allotment filings will be made with the Nigerian Exchange Limited (NGX) and other regulatory authorities, in accordance with market rules.
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