First HoldCo Plc has become the first bank in Nigeria’s history to surpass a market capitalisation of N6 trillion, driven by record earnings, renewed confidence in the group’s transformation strategy, and sustained demand for banking stocks.
The financial holding company crossed the milestone during trading on the Nigerian Exchange (NGX) on Monday after its share price climbed to N136.50, lifting its market capitalisation to approximately N6.21 trillion based on its 45.48 billion outstanding shares.
The latest achievement comes barely two weeks after the company crossed the N5 trillion valuation mark for the first time on July 22, reflecting sustained investor appetite following the release of its half-year financial results.
Investors have continued to pile into the stock, sending its year-to-date gain to 184.97 percent. Since the end of June alone, the share price has surged 43.53 percent, making it one of the best-performing large-cap stocks on the local bourse.
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