Close Menu
    Trending
    Subscribe
    Friday, August 7

    Live Update: FirstHoldco Tops N6.8trn on Otedola Calvados N18bn Bets

    Share price hits N150, the group’s all-time high on record
    Julius AlagbeBy Updated: News No Comments2 Mins Read
    Live Update FirstHoldco Tops N6.8trn on Otedola Calvados N18bn Bets
    FirstHoldco

    Live Update: FirstHoldco Tops N6.8trn on Otedola Calvados N18bn Bets

    Live update: Femi Otedola, First Holdco chairman and single largest shareholder in the group, fuelled the latest re-rating that pushed the company’s valuation above N6 trillion.

    Trading at an all-time high, the company’s share price increased more than 7% during the intraday trading session on Friday to N150 on more than N2 billion in transaction value.

    In a regulatory disclosure today, Otedola’s Calvados Global Services Limited spent more than N18 billion to purchase an additional 138,041,465 shares at N131.2 per share on the Nigerian Exchange on Thursday.

    Sentiment drove the rally, analysts said, adding that the banking sector’s earnings performance is anticipated to be affected by increased regulation by the Apex Bank.

    The market value of FirstHoldco Plc’s 45,475,027,677.00 outstanding shares increased to N6.821 trillion during the intraday trading session at exactly 1.00 pm on Friday.

    Driven by non-core banking income, First Holdco delivered an improved earnings performance in the first half of 2026, coming from a low comparative earnings period.

    The sharp share price surge was driven by a series of insider buying rather than the company’s specific catalysts. Stockbrokers said the banking group share price is approaching an overbought region where investors are anticipated to act.

    AI, Tech Stocks Drive Wall St. to Record High, European Markets Rally

    Share.

    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

    Keep Reading

    Add A Comment

    Comments are closed.

    News

    Company

    Services

    © 2026 MarketForces Africa. All rights reserved.