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    Monday, May 18
    Analysis

    FirstHoldco Jumps on Significant Off-market Block Trade

    Julius AlagbeBy Updated:No Comments2 Mins Read
    FirstHoldco Jumps on Significant Off-market Block Trade
    Femi Otedola, FirstHoldco Chair

    FirstHoldco Jumps on Significant Off-market Block Trade

    The equity market value of First Holdco Plc soared by about 10% on Wednesday following a sizeable transaction conducted outside the Nigerian Exchange (NGX).

    Data from the Nigerian Exchange showed its share price rose to N32.2 as 33.199 million units of First Holdco valued at N1.021 billion exchanged ownership in the market.

    This fueled a sharp increase in total volume traded on the NGX, up by 807.03% to 11.67 billion units, while total value traded soared by 1,028.44% to N363.41 billion.

    According to CardinalStone Securities Limited, this is largely on the back of a sizable off-market block trade in FIRSTHOLDCO. Notably, 10.43 billion units of FIRSTHOLDCO exchanged hands at a unit price of N31.00 across 17 transactions.

    At the current market value, First Holdco Plc is now trading at a moderate discount to its 52-week high in the Nigerian market.

    The market value of First Holdco Plc’s 41.877 billion shares outstanding surged by 9.9% to N1.348 trillion in the equities market on Wednesday as investors anticipate earnings release. 

    MarketForces Africa reported that block trades are transactions involving a large portion of shares traded off-market between buyers and sellers. #FirstHoldco Jumps on Significant Off-market Block Trade Benchmark Yield Crashes as Investors Hunt FGN Bonds

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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