First Ally Capital Limited, a related company to Ebenezer Olufowose, chairman, First Bank of Nigeria Limited has purchased 64,516,129 shares of First Holdco Plc at N31.05 per share.
The share purchase transaction at the Nigerian Exchange Limited (NGX) was done on November 25, according to a notification of share dealing by insiders filed by First Holdco Plc.
On Tuesday, November 25 the share price of First Holdco closed at N31, as investors exchanged 93,716,871 shares. First Holdco Plc has 41.877billion shares outstanding.
The market capitalisation of First Holdco Plc which is listed on the Premium Board of the Nigerian Exchange Limited stood at N1.298trillion on Tuesday November 25 at N31 per share. The stock price had reached a 52-week high of N37.5 as against a corresponding week low of N23.55.
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Recently, FirstHoldCo flagship subsidiary, First Bank of Nigeria Limited successfully redeemed its $350 million Eurobond which matured on October 27, 2025. The Eurobond, issued in October 2020 as Senior Notes at an 8.625 percent coupon rate with semi-annual interest payments, was 70 percent oversubscribed at issuance, reflecting FirstBank’s strong market reputation and the enduring confidence of international investors in the institution’s stability and governance.
Proceeds from the issuance were deployed to support strategic customer projects and key national initiatives, reinforcing FirstBank’s pivotal role in Nigeria’s economic development. This redemption
marks another milestone in the bank’s disciplined liability management strategy, underscoring its robust foreign currency liquidity, prudent risk management, and sound balance sheet.
FirstBank has redeemed an aggregate of $1.275 billion across four (4) Eurobond maturities since its inaugural issuance in 2007, further cementing its standing as a consistent and credible issuer in global capital markets.
