FBN Holdings Rebounds to 1 Trillion Valuation amid Capital

FBN Holdings Plc (Ticker: FBNH) has reclaimed a position among listed companies with valuations exceeding N1 trillion on the Nigerian Exchange (NGX), driven by renewed investor confidence ahead of a key shareholders meeting.

Following a surge in its stock price, FBNH climbed to N28.8 per share from N26 at the beginning of the week. Analysts predict that the company’s current market performance will influence its planned capital raise exercise.

Although still trading below its 12-month peak of N43.95, the group’s 35.895 billion outstanding shares now carry a market valuation of N1.033 trillion. Experts suggest that the final amount to be raised will be closely linked to the stock price at the time shareholders approve the plan.

FBN Holdings has made significant internal changes, including the appointment of a new Group Managing Director, in preparation for the upcoming Annual General Meeting (AGM). These strategic decisions, along with the declaration of a dividend at the AGM, have further bolstered investor sentiment.

At the AGM, shareholders will also vote on the proposal to raise N350 billion in new capital and consider a rebranding initiative to change the company’s legal and trade name from FBN Holdings Plc to FirstHoldco Plc.

With these developments, market observers are optimistic that FBN Holdings is on a steady recovery path, setting the stage for sustainable growth in the financial services sector. Halden McCall to Boost NGX Market with 11.98bn Share Listing