The new shares were sold at ₦32.50 each, raising ₦83.7 billion for the company. These shares are part of a larger private placement of 3.277 billion shares that the company issued to raise capital.

With this listing, the company’s total issued shares have increased from 41.88 billion to 44.45 billion ordinary shares of 50 Kobo each.

The Nigerian Exchange confirmed the listing, noting that the new shares are now part of the official daily list, making them available for trading to investors.

Why it matters to you:

-More shares on the market can increase trading activity, giving investors more opportunities to buy or sell First Holdco stock.

-The capital raised from the private placement can be used to grow the company, which may impact future profitability and shareholder value.

-Existing shareholders may see dilution of ownership, but the long-term effect could be positive if the funds are used strategically.

This move signals that First Holdco is actively raising capital to expand its operations, while investors now have additional opportunities to participate in its growth.