RC Investment Management Limited (RCIM) has transferred about 5.2 billion shares of FirstHoldCo Plc to investors as part of an ongoing divestment programme involving approximately 10.43 billion shares acquired in July 2025.
The shares were acquired on the Nigerian Exchange (NGX) under a Central Bank of Nigeria-approved shareholder divestment arrangement, with RCIM acting as an independent bridge holder responsible for subsequently selling the shares to investors.
In a statement, the companies said further transfers would be completed as regulatory approvals were secured and outstanding transaction processes concluded.
The transaction involves the sale of existing shares through the secondary market rather than the issuance of new shares.
The ongoing transfers account for a substantial portion of the trading volumes recorded in FirstHoldCo shares, according to the statement.
The companies also said FirstHoldCo had delivered total shareholder returns exceeding 200 per cent from January 2026 to date, ranking first among the FUGAZ banking groups on that measure.
The divestment programme is expected to broaden FirstHoldCo’s investor base and facilitate the orderly transfer of the shares to new investors.