FirstHoldCo Plc and RC Investment Management Limited (RCIM) have crossed approximately 5.2 billion shares to investors under an ongoing disposal programme, reflecting strong subscription and sustained investor demand for the banking group’s shares.
The transaction involves the disposal of about 10.43 billion FirstHoldCo shares acquired by RCIM on the Nigerian Exchange Limited (NGX) in July 2025 as an independent Bridge Holder under a Central Bank of Nigeria (CBN)-approved shareholder divestment arrangement.
The shares are being sold to investors through the secondary market, with the programme designed to facilitate an orderly transfer of the substantial shareholding to new and existing investors.
According to the companies, further share crossings are expected as the necessary regulatory approvals are secured and outstanding execution processes are completed.
The ongoing transfer also accounts for a significant portion of the elevated trading volumes recorded in FirstHoldCo shares on the NGX.
The companies noted that the strong subscription and absorption of such a large volume of shares underscore investor confidence in FirstHoldCo, supported by its financial performance, underlying fundamentals and long-term growth prospects.
The Group’s performance in delivering returns to shareholders has also strengthened its investment appeal.
On a total shareholder return basis, FirstHoldCo ranks first among the FUGAZ banking groups, having delivered returns of more than 200 per cent between January 1, 2026, and October 29, 2026.
The disposal programme is expected to broaden FirstHoldCo’s investor base while advancing the completion of the divestment arrangement in an orderly manner.
The transaction represents a significant step in redistributing the shares previously held by RCIM to investors, while maintaining the shares’ status as existing securities traded on the NGX.
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