FirstHoldCo Shrinks by 5% on Pre-Earnings Sell Pressure
FirstHoldCo Plc lost more than 5% of its market value on Tuesday in other pre-earnings selloffs that reduce the total value of the group outstanding shares on the Nigerian Exchange.
Trading data from the local bourse showed that the non-operating holding company of First Bank of Nigeria Limited declined by 5.09% to N142.50, its lowest price level in the last seven trading session.
FirstHoldCo share price slipped as more than 7 million units of the group’s outstanding shares valued at over N1 billion were transacted in the stock market.
The market is divided between pre-earnings buyers and sellers, and this has not come in favour of FirstHoldCo which hit 52- week high of N165. The banking group share price peaked after the release of updated dividend policy, which significantly attracted dividend seeking investors.
FirstHoldCo is anticipated to release third quarter of 2026 unaudited financial statement. A slew of equities analysts see the earnings as catalyst for additional re-rating.
This could shoot FirstHoldCo market value, or drag the group…though stockbrokers said sentiment about expectation placed on its leadership will continue to influence its valuation.
All in, market value of FirstHoldCo Plc 45.475 billion outstanding shares shrank to N6.480 trillion, now trading at about 14% to 52 week high on the Nigerian Exchange.
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