FirstHoldCo Plc says it has completed a ₦45 billion second tranche of its ongoing ₦350 billion private placement programme. The company states that it secures the required approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) before completing the transaction, and that the tranche is closed following its successful allotment and completion process. Vanguard reports the placement is closed at a price of ₦44.06 per unit for this tranche. Premium Times similarly reports the ₦45 billion completion, noting that FirstHoldCo reiterates its governance, risk management, capital allocation discipline, and execution of strategic priorities.
The private placement is aimed at further strengthening FirstBank’s capital position. Following the completion of this tranche, FirstHoldCo continues the broader ₦350 billion private placement programme, with the two outlets focusing on the successful closing of the ₦45 billion tranche and the associated impact on FirstBank’s capital base.
