FirstHoldCo Plc plans to raise up to ₦253 billion in fresh equity capital.
It aims to lift its total capital and share premium to ₦1 trillion through this move.
If shareholders approve the plan, the bank will become Nigeria’s most capitalised financial institution.
FirstHoldCo Capital Raise Plan
The company presented the proposal to shareholders ahead of its Annual General Meeting.
It intends to raise funds through public offers, rights issues, or private placements.
At the same time, the board will decide the structure, timing, pricing, and regulatory steps.
As a result, the plan will strengthen capital for long-term growth and expansion.
Strong Capital Position
In Q1 2026, the group reported share capital and premium of ₦480.6 billion.
It also recorded shareholders’ funds of ₦3.4 trillion during the same period.
Consequently, the new raise will significantly expand its capital base and capacity.
At current pricing of ₦67.8 per share, the bank may issue about 3.73 billion new shares.
This will increase total shares from 44.4 billion outstanding units.
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If the plan succeeds, capital will rise to about ₦733 billion overall.
Industry Recapitalisation Context
The Central Bank completed its nationwide banking recapitalisation exercise.
It mobilised ₦4.65 trillion across Nigeria’s banking sector over 24 months.
In addition, thirty-three banks met the new capital requirements set by the regulator.
Similarly, all FUGAZ banks crossed the ₦500 billion international banking threshold.
Fidelity Bank and FCMB also met the minimum capital requirement.
FirstHoldCo posted strong Q1 2026 earnings across key metrics.
It grew profit before tax to ₦321.12 billion, up 72.20% year-on-year.
It also increased profit after tax to ₦267.80 billion, up 56.52%.
In addition, earnings per share rose to ₦6.00 from the previous year.
Finally, its share price gained about 9% in recent trading sessions.
Overall, the group continues to strengthen its position in Nigeria’s banking sector.
