First HoldCo Plc and RC Investment Management Limited (RCIM) have made vital 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 underneath which RCIM acquired roughly 10.43 billion FirstHoldCo shares on the NGX in July 2025 for subsequent disposal to buyers.
The transaction is structured as a secondary-market sale of present shares by the NGX.
As of right this moment, about 5.2 billion models 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 mirror, in substantial half, the continuing switch of the RCIM block to buyers.
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 progress 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% from the start of January 2026 to this point.
The transaction additionally represents an necessary step in the direction of finishing the orderly divestment programme and broadening FirstHoldCo’s investor base.
