First Holdco Closed at N1.046trn with Additional Shares Listing
Nigeria’s oldest listed financial services company, First Holdco Plc, closed at a market value of N1.046 trillion on Friday amidst negative share price fluctuation and missed regulatory filing on the Nigerian Exchange.
First Holdco Plc.’s share price dropped after the group told the Nigerian Exchange that the audited financial statement for 2024 is awaiting approval from the Central Bank of Nigeria (CBN).
The group trading data in the equities market showed that the share price dropped to N25 on Friday when 7.572 million units valued at N189.537 million exchanged hands.
Week on week, First Holdco Plc lost about 4%, reflecting negative investors’ sentiment on the financial stocks. The market value of 41.887 billion shares outstanding printed at N1.046 trillion amidst new shares listing.
Stockbrokers reported that 5.98 billion additional shares of First HoldCo Plc have been admitted to the Nigerian Exchange daily official list. The additional shares increased the group shares outstanding in the market to 41.877 billion.
Last week, First Holdco told the regulator it will publish audited financial statements for 2024 as soon as the CBN approval is obtained.
“We expect that the approval would have been obtained on or before April 30, 2025”, First Holdco said in its recent regulatory filing. #First Holdco Closed at N1.046trn with Additional Shares Listing Afriland Properties Records N2.6bn Profit for 2024
