First Holdco Closes at N1.046trn Market Cap Amid Share Dip

First Holdco Plc, Nigeria’s oldest listed financial services group, ended trading on Friday, April 11, 2025, with a market capitalisation of ₦1.046 trillion, despite negative price movement and regulatory filing delays.

The group’s share price fell to ₦25 following disclosure that its audited financial statements for the 2024 fiscal year are still awaiting approval from the Central Bank of Nigeria (CBN). A total of 7.572 million shares valued at ₦189.54 million were traded on the day.

On a week-on-week basis, First Holdco’s stock declined by approximately four percent, reflecting growing investor unease over regulatory delays and broader sector sentiments.

The dip came even as the Nigerian Exchange admitted 5.98 billion additional shares of the company to its daily official list, bringing the group’s total outstanding shares to 41.877 billion.

In a recent regulatory filing, First Holdco assured the market that the pending audited financial statements would be published once the CBN’s nod is received. “We expect that the approval would have been obtained on or before April 30, 2025,” the group said.

Despite the short-term pressure, First Holdco’s market capitalisation remains strong, backed by ongoing investor interest and the strategic significance of the group in Nigeria’s financial landscape.