First HoldCo Plc and RC Investment Management Limited (RCIM) have made important progress within the ongoing disposal of the substantial block of FirstHoldCo shares held by RCIM in its capability as impartial Bridge Holder.
The shareholding originated from a CBN-approved shareholder divestment association below which RCIM acquired roughly 10.43 billion FirstHoldCo shares on the NGX in July 2025 for subsequent disposal to traders. The transaction is structured as a secondary-market sale of current shares by means of the NGX.
As of as we speak, about 5.2 billion items have been crossed to subscribers, with additional crossings anticipated as requisite regulatory approvals are secured and the remaining execution processes are accomplished. Accordingly, the numerous volumes being recorded in FirstHoldCo shares replicate, in substantial half, the continuing switch of the RCIM block to traders.
Strong subscription and profitable absorption of such a sizeable block underscore continued investor confidence in FirstHoldCo, supported by the Group’s monetary efficiency, underlying fundamentals and long-term development prospects. This confidence is additional mirrored in shareholder returns on a complete shareholder return foundation, First HoldCo ranks first among the many FUGAZ banking teams, having delivered returns exceeding 200 per cent from the start of January 2026 so far.
The transaction additionally represents an essential step in direction of finishing the orderly divestment programme and broadening FirstHoldCo’s investor base.a
