FirstHoldco Gains 26% on Strong Investor Sentiment Shift
Marina-based elephant-branded financial services group, FirstHoldco Plc, gained 26% in the stock market as investor sentiment improved ahead of its second-quarter (Q2) 2026 earnings release.
The significant buying activity brought the group’s valuation closer to its 52-week high on the local bourse. First Holdco is now trading at about 16% below its highest valuation in the last 12 months on NGX.
According to data from the Nigerian Exchange, the group’s share price performance closely tracked the broader market direction as the Nigerian stock market capitalisation increased by N9.34 trillion week on week.
The financial services company’s share price surged to N69.20 at the close of trading on Friday, up from N55, as investors increased exposure to the Femi Otedola-led banking group.
First Holdco recorded increased market activity in its shares, with about 1.3 billion in trading volume on Thursday and 18 million units traded on Friday.
This suggests strategic positioning ahead of the next capital raise round to restore the group’s capital adequacy compliance – currently below the Central Bank benchmark.
The market value of First Holdco Plc. 45.474 billion outstanding shares surged to N3.146 trillion at the close of last week’s trading session. FirstHoldco Surges by10% as Investors Buy the Dip
