First Ally Capital Limited, a related company to Ebenezer Olufowose, chairman, First Bank of Nigeria Limited has purchased 64,516,129 shares of First Holdco Plc at N31.05 per share.

The share purchase transaction at the Nigerian Exchange Limited (NGX) was done on November 25, according to a notification of share dealing by insiders filed by First Holdco Plc.

On Tuesday, November 25 the share price of First Holdco closed at N31, as investors exchanged 93,716,871 shares. First Holdco Plc has 41.877billion shares outstanding.

The market capitalisation of First Holdco Plc which is listed on the Premium Board of the Nigerian Exchange Limited stood at N1.298trillion on Tuesday November 25 at N31 per share. The stock price had reached a 52-week high of N37.5 as against a corresponding week low of N23.55.

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Recently, FirstHoldCo flagship subsidiary, First Bank of Nigeria Limited successfully redeemed its $350 million Eurobond which matured on October 27, 2025. The Eurobond, issued in October 2020 as Senior Notes at an 8.625 percent coupon rate with semi-annual interest payments, was 70 percent oversubscribed at issuance, reflecting FirstBank’s strong market reputation and the enduring confidence of international investors in the institution’s stability and governance.

Proceeds from the issuance were deployed to support strategic customer projects and key national initiatives, reinforcing FirstBank’s pivotal role in Nigeria’s economic development. This redemption

marks another milestone in the bank’s disciplined liability management strategy, underscoring its robust foreign currency liquidity, prudent risk management, and sound balance sheet.

FirstBank has redeemed an aggregate of $1.275 billion across four (4) Eurobond maturities since its inaugural issuance in 2007, further cementing its standing as a consistent and credible issuer in global capital markets.

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By Iheanyi Nwachukwu • November 27, 2025

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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