FirstHoldCo targets N253bn capital raise to fuel expansion plans
FirstHoldCo Plc has announced plans to raise up to N253 billion in fresh capital. The move aims to boost the company’s financial strength and support its long-term expansion goals. Shareholders will need to approve the proposal at an upcoming meeting. The capital raise could involve issuing around 3.73 billion new ordinary shares. If successful, the injection would push FirstHoldCo’s total share capital and share premium from N480.6 billion to N1 trillion. This would also lift the company’s qualifying capital to roughly N733 billion.
FirstHoldCo’s financial performance has shown strong growth. In the first quarter of 2026, its profit after tax climbed by 56.52% to N267.80 billion. Pre-tax profit also surged by 72.20%, reaching N321.12 billion. The firm’s shareholders' funds currently stand at N3.4 trillion.
The proposed capital increase is designed to reinforce the company’s capital base. Management believes this will provide a solid foundation for future growth and strategic initiatives. The planned equity-related transactions will require shareholder approval. If completed, the additional funds will expand FirstHoldCo’s financial capacity. The company’s recent profit growth highlights its strong market position as it pursues further development.
