FirstHoldCo Loses 9% as Investors Offload Shares Ahead of Q3 Earnings
FirstHoldCo Plc lost more than 9% of its market value on the Nigerian Exchange (NGX) amid selling pressure ahead of the third quarter 2026 earnings release.
Investors have been adjusting positions in anticipation of Q3 earnings releases in the Nigerian market, dragging the banking index lower by 1.33% week-on-week, according to data from the local bourse.
Analysts anticipate earnings to continue to recover after the group’s balance sheet clean-up.
Trading data from the Nigerian Exchange showed that the share price of First Bank of Nigeria Limited, a non-operating holding company, fell to N150.05 on Friday, down from its 52-week high of N165.
The financial services company’s share price fell on light trading volume, suggesting retail sell-offs after the group announced a closed period for insider trading activities.
In the last six trading sessions, FirstHoldCo has seen unusually low trading volume on the local bourse, keeping its price movement limited.
Due to the sell-off, the market value of FirstHoldCo Plc’s 45.475 billion outstanding shares fell to N6.823 trillion, more than 9% below its 52-week high.
In an official announcement, FirstHoldCo told the Nigerian Exchange that its Board of Directors will meet to consider the Unaudited Accounts for the period ending September 30, 2026, on Thursday, October 29, 2026.
The group announced that its closed period commenced on Thursday, October 1, 2026 and will continue until 24 hours after its Unaudited Accounts for the period ending September 30, 2026, have been filed on NGX.
FirstHoldCo said no Insider of the Company and their connected persons may, directly or indirectly, deal in the securities of the Company in any manner during the closed period.
