Post by Proshare (@Proshare)

FirstHoldCo Plc is seeking shareholder approval at its 14th AGM on May 29, 2026, to raise up to N253.099bn in fresh capital, pushing toward a N1 trillion paid-up capital base, double the CBN's N500bn minimum for international banking authorisation. Chairman Femi Otedola has publicly called for the CBN to raise the minimum threshold to N1 trillion, framing the move as strategic leadership rather than regulatory compliance.

The transaction architecture is deliberately flexible, spanning public offerings, private placements, rights issues, bonus issues, and scrip dividends. The context is compelling: Q1 2026 PBT surged 72% to N321.1bn, ROE hit 31.6%, the highest in the FUGAZ cohort, following a N748bn legacy debt clean-up in FY 2025. The stock has returned 181.6% from January 2025 to May 12, 2026.

Proshare frames the critical investor question not as how much capital is raised, but as how effectively it is deployed, as the CBN's stress-testing cycle shifts supervisory focus from capital adequacy to capital quality.

Read more: https://proshare.co/articles/firstholdco-and-the-proposed-n1-trillion-capital-base-target-from-regulatory-compliance-to-capital-leadership?menu=Market&classification=Read&category=Public%20%26%20Private%20Offers

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