RCIM moves 5.2bn FirstHoldCo shares to investors in divestment plan
- RC Investment Management has transferred about 5.2 billion FirstHoldCo shares to investors.
- The transfers are part of a divestment programme covering roughly 10.43 billion shares bought in July 2025.
- FirstHoldCo shares have returned more than 200 per cent since January 2026, the companies said.
About 5.2 billion shares of FirstHoldCo Plc have been transferred to investors, according to a joint statement from the company and RC Investment Management Limited (RCIM).
The transfer is part of a divestment programme covering about 10.43 billion FirstHoldCo shares acquired in July 2025 on the Nigerian Exchange (NGX).
RCIM is acting as an independent bridge holder. It bought the shares under a shareholder divestment arrangement approved by the Central Bank of Nigeria (CBN), and is responsible for selling them on to investors.
The companies said more transfers will follow as regulatory approvals come through and remaining transaction steps are completed.
What it means for the market
The shares are existing ones sold on the secondary market, not new shares issued by the company. That means the deal does not add to FirstHoldCo's share count.
According to the statement, the ongoing transfers make up a large share of the trading volume in FirstHoldCo shares.
The companies said the programme should widen FirstHoldCo's investor base and move the shares in an orderly way to new holders.
They also said FirstHoldCo has delivered total shareholder returns of more than 200 per cent from January 2026 to date, the best among the FUGAZ banking groups on that measure. FUGAZ is the common name for Nigeria's five biggest banks by market size.
For everyday Nigerians, the share sale is mostly a market story rather than a direct hit to wallets. But heavy trading in a big bank's stock can sway how the NGX performs, and that matters to anyone with a pension or mutual fund tied to the market.
What happens next
The remaining shares in the programme are expected to change hands in batches as approvals are secured. The companies did not give a timeline for completing the transfers.
