First HoldCo Extends Rally on Strategic Divestment, Closes at Record High
First HoldCo Plc delivered a standout performance on the equities market on Wednesday, December 17, 2025, as renewed investor demand propelled the stock to an unprecedented market close of N39.60, marking a N3.60 gain to advance on a maximum of 10.0% on the gainers table from its previous level. The rally followed a volatile intraday session in which the stock advanced steadily from its opening price of N36.00, underscoring strong bullish sentiment.
The renewed market positioning is anchored on fresh capital inflows, driven by the bank’s successful completion of the full divestment of its 100% equity stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP. The transaction, now backed by all requisite regulatory approvals from the Central Bank of Nigeria (CBN), is expected to significantly enhance First HoldCo’s liquidity profile and capital buffers. This development comes at a critical time, as banks reposition ahead of the CBN’s stipulated deadline for sector-wide recapitalisation.
In market terms, First HoldCo’s advance today pushed the stock to both its 52-week high and current market high of N39.60, a sharp contrast to its 52-week low of N23.55. The current price level places the stock just shy of its all-time high, while firmly sustaining a position well above its annual trough, an indication of improving market confidence and valuation re-rating.
With trading patterns increasingly supported by institutional and retail investor participation, First HoldCo is exhibiting a clear positive momentum bias. The stock’s ability to break into new highs on strong volume suggests a re-entry opportunity for momentum-driven investors, as the market continues to price in the strategic benefits of the divestment and the bank’s strengthened capital outlook. #First HoldCo Extends Rally on Strategic Divestment, Closes at Record High#
