First Holdco Dips Below N1.3trn Amidst Huge Trading Volume
The market value of First Holdco Plc’s 41.877 billion shares outstanding on the Nigerian Exchange (NGX) slid below N1.3 trillion on Tuesday amidst a block transaction.
According to its trading data on the Nigerian Exchange, the financial services group share price closed at N30.90, about 2% below its opening price following a negotiated deal.
First Holdco share price declined as more than 68.629 million units valued at over N2.113 billion were traded in the local bourse.
Stockbrokers reported that First Bank’s parent company recorded a single transaction involving 38.24 million of its shares executed at the price of ₦31 per share, amounting to a trade value of ₦1.18 billion.
Hence, the market value of the financial group fell to N1.294 trillion. NGX data showed that First Holdco is now trading at 17.6% below its highest value reached in the last 52 weeks in the Nigerian stock market. MTN Nigeria Lost 8.3% Ahead of Interim Dividend, Potential Offer
