Foxxymobile Street Insider | FirstHoldCo Edition

Ticker: FIRSTHOLDCO (₦31.60, +1.94%)
Market Cap: ₦1.32trn | Board: Premium

Winners (Balance Sheet Flex + Shareholder Promise)

FirstHoldCo Plc is flexing its financial muscle:

Pre-tax profit ₊125% YoY → ₦781.9bn.

Gross earnings ₊106% YoY → ₦3.21trn.

Dividend hike approved: ₦25.1bn vs ₦14.3bn last year (60 kobo per share).

Chairman Femi Otedola doubled down: ₦320bn personal stake, now 11.8% ownership.

Capitalisation Countdown:
FirstHoldCo says the ₦500bn recap requirement will be sealed in weeks, not months. Private placement in 2 weeks to lock it down.

Insider Tone: Otedola reassures: “I won’t accept a 60 kobo dividend… God’s time is the best.” Translation: higher dividends are coming once recap buffers are locked.

Losers (or Rather, Waiting Room)

Shareholders Hungry for More: Current dividend (₦0.60) feels small fry against ₦781bn profit. GMD Wale Oyedeji says patience is key: paying more now slows the recap raise.

Market Tape Check:

1-week trading range: ₦30.5 → ₦31.7.

Still below 52-week high (₦37.5).

Heavy volumes (44m+ shares moved Sept 9) hint smart money is already circling.

Foxxymobile Insider Take

Winner’s Table: FirstHoldCo joins Access, Zenith, and GTCO in the recap near-complete club. Liquidity strong, governance stable.

Loser’s Angle: Retail holders may feel underfed short-term with that slim dividend. But insiders are clear: the real payout wave is post-capital raise.

Street Read: With Otedola’s ₦320bn skin in the game + Tinubu/Cardoso policy tailwinds, this is less about “if” and more about “when” the ₦500bn mark is hit.

Foxxymobile Call:
If you’re in FIRSTHOLDCO, you’re betting not just on dividends but on Otedola’s credibility and CBN’s recap roadmap.

Anonymous

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Foxxymobile Street Insider | FirstHoldCo Edition

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