FirstHoldco Jumps by 14% Ahead of Board Meeting, Earnings
The market value of FirstHoldco Plc surged by over 14% in the stock market from the previous week due to sporadic market rallies and changing investor sentiment in anticipation of its upcoming second-quarter earnings report.
With a market value of N1.220 trillion, the First Holdco Plc now ranks lowest in terms of valuation in the stock market, falling behind all tier-1 financial institutions. This reflects its performance outlook and investor sentiments.
First Holdco had led the tier-1 category as most valuable before its internal crises plunged the brand down the ladder, now ranking at the bottom amidst steep price volatility. On Friday, the financial services group’s share price rose to N29.1 as over 8.781 million units, valued at N257 million, were traded on the local stock market.
Ticker: FIRSTHOLDCO started the week at N25.50 and reached a high of N29.95 before declining because of profit-taking. First Holdco has been unable to beat N30 resistance in weeks due to mixed expectations about the group—its ability to match up with other Tier-1 rivals’ earnings and interim dividend energy in the market.
The price appreciation pushed the market value of First Holdco Plc.’s 41.877 billion shares outstanding to N1.220 trillion at the close of trading sessions, trading at more than a 13% discount to its 52-week high in the stock market ahead of Q2 earnings.
A growing number of equities analysts have not been mentioning First Holdco as part of tier-1 names with fundamentally sound banks with clean balance sheets and scalable earnings models.
First Holdco faces regulatory dividend suspension risk due to forbearance and single-limit obligor breaches. The banking group has a history of underperforming its tier-1 rivals in terms of dividends and, of course, significant key man risk, according to analysts.
In a regulatory filing, First Holdco announced that its Board of Directors will be meeting to consider the unaudited accounts for the period ending June 30, 2025, on Wednesday, July 30, 2025.
The banking group said it closed period commenced on Tuesday, 1st July 2025, and will continue until 24 hours after the company’s unaudited accounts for the period ending June 30, 2025, have been filed via the Issuers’ Portal of the Nigerian Exchange Limited.
“All insiders and related persons have been informed not to trade in the company’s shares during this period”, First Holdco said in its regulatory filing. #FirstHoldco Jumps by 14% Ahead of Board Meeting, Earnings GTCO Climbs to N3.43trn, Beats Equities Analysts Target Prices
