FBN Holdings
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FBN Holdings Reaches #1 Trillion Valuation Ahead Of Key Shareholders Meeting

1 year ago
1 year ago

FBN Holdings Plc has made a notable return to the elite category of listed stocks valued over N1 trillion on the Nigerian Exchange (NGX), fueled by investor optimism ahead of its upcoming shareholders meeting.

Buoyed by successive gains, FBN Holdings stock climbed to N28.8 per share from N26 earlier this week, rekindling investor interest and setting the stage for the group’s anticipated capital raise exercise.FBN Holdings
This recent rally has seen FBN Holdings regain some ground, although it remains below its 52-week high of N43.95. Analysts emphasize that the company’s share price at the time of the capital raise approval will directly influence the volume of shares issued in the upcoming N350 billion raise. With FBN Holdings’ 35.895 billion outstanding shares, the current market value now stands at N1.033 trillion, marking a significant milestone as the financial group continues its strategic restructuring efforts.
Investor sentiment has been strengthened by the internal shifts within the group, including the appointment of a new group managing director and the announcement of a revised date for the annual general meeting. At this meeting, FBN Holdings aims to obtain shareholder approval for its capital increase and dividend declaration, further underscoring its commitment to shareholder value and long-term growth.FBN Holdings
In addition, FBNH plans to propose a rebranding, changing its name to FirstHoldco Plc to align with a refined corporate identity. The decisions from this meeting are expected to have a notable impact on the group’s growth trajectory as it positions itself for future expansion.
For more updates on FBN Holdings visit fasnewsng.com
By Lekan Olofinsusi
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