May 12, (THEWILL) — First HoldCo Plc has disclosed that Anil Dua, a non-executive director on the board of First Bank of Nigeria, acquired shares in the financial services group valued at N177.9 million, amid renewed investor interest in the company’s stock.
According to a regulatory filing signed by Group Company Secretary, Abiola Baruwa, the transaction involved the purchase of 2.56 million ordinary shares at N69.56 per share on May 11, 2026, on the Nigerian Exchange (NGX).
The disclosure, referenced under transaction code NGFBNH000009, comes as First HoldCo shares continue to rally strongly following the release of its Q1 2026 financial results and plans for a fresh capital raise.
Following the acquisition, First HoldCo’s share price closed at N74.55 on May 11, representing a 7.17 percent gain above Dua’s acquisition price.
The stock also recorded an overall daily gain of 9.96 percent , while trading activity surged significantly.
Data from the NGX showed that more than 148 million shares of First HoldCo were traded on the day, making it the third most actively traded stock behind Access Holdings and Veritas Kapital.
The volume marked the company’s highest single-day turnover so far in 2026, surpassing the 106 million shares traded on February 13.
The stock has experienced heightened volatility this year, rising from N47.90 at the start of 2026 to a high of N77 in April before retreating to N60.05 on May 5.
However, bullish momentum returned after the company posted strong first-quarter earnings.
First HoldCo reported a 72.2 percent year-on-year increase in profit before tax to N321.1 billion in Q1 2026, supported by higher interest income, stronger fee-based earnings, and gains from investment securities.
Investor sentiment has also been boosted by the group’s plan to raise up to N253 billion in fresh capital at its 14th Annual General Meeting scheduled for May 29, 2026, as it targets a N1 trillion paid-up capital base.
The shares traded as high as N79 in intraday trading on May 12, pushing the stock’s year-to-date return above 64 percent and lifting its market capitalization to about N3.3 trillion.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
