FirstHoldCo Plc has successfully concluded its N150 billion Rights Issue, attracting a remarkable 25% oversubscription, with total subscriptions amounting to N187.6 billion. Group Managing Director, Adebowale Oyedeji, expressed gratitude for the robust shareholder response, attributing it to investor confidence in FirstHoldCo’s strategic vision and growth potential.
Following the successful Rights Issue, the Group plans to proceed with a N350 billion Private Placement as part of its broader capital-raising strategy aimed at strengthening FirstBank, its flagship subsidiary, and driving investments in innovation and sustainable growth.
Chairman of FirstHoldCo Plc, Femi Otedola, CON, lauded shareholders for their overwhelming support, emphasizing that the strong participation reflects a collective belief in the company’s promising future. He also acknowledged the support of the Central Bank of Nigeria and the Securities and Exchange Commission for ensuring a transparent and compliant process.
The upcoming N350 billion Private Placement is expected to further enhance FirstHoldCo’s financial position, providing a solid foundation for continued growth and value creation for shareholders.
