Live Trade: FBN Holdings Price Declines as Market Expects Audited Report
FBN Holdings PLC shareholders are selling down their shares or interest in the financial services group, according to live trading data tracked by MarketForces Africa. The stock is trading negative during the intraday trading session on the Nigerian Exchange.
Price depreciation that followed selling spree on the ticker has reduced its market valuation by 50% from its 52-week high price achieved in 2024.
With the bearish run in the local bourse, the market has priced down the elephant in the financial services group amidst hanging earnings results. Fitch Ratings excluded FBN Holdings from rating upgrade.
The top lender has lost significantly in the last few weeks amidst banking sector recapitalisation program. MarketForces Africa reported that the financial services behemoth closed at N22 per share yesterday in the stock market.
Its market valuation dropped to N809 billion on 35.895 billion shares outstanding – the first banking name to leave N1 trillion valuation on the Nigerian Exchange. Early trading record showed FBNH has lost 2.22% of its opening price amidst ongoing efforts to recapitalize the banking arm – First Bank of Nigeria Limited.
The stock’s 52 week record has been knocked down by more than 49%, from N43.95 to the current trading price of N22.05 at the time of filing the report today.
Data from the Nigerian Exchange showed that more than 1.236 million volume of shares have been traded early today worth N22.274 million. #Live Trade: FBN Holdings Price Declines as Market Expects Audited Report
