FBN Holdings Plc has officially rebranded to First Holdco Plc following shareholder approval at its 12th Annual General Meeting (AGM). The virtual meeting also saw amendments to the company’s Memorandum and Articles of Association to reflect the new name across all subsidiaries, ensuring a cohesive brand identity. Directors were authorized to take the necessary steps to implement the changes and meet regulatory requirements.
The AGM also approved a significant capital raise of up to ₦350 billion through public offerings, private placements, and rights issues in domestic and international markets. The funds will be raised using book-building or similar valuation methods, with the proceeds aimed at supporting strategic goals and ensuring compliance with regulatory standards. The company will also increase its share capital and pursue the listing of new securities on relevant exchanges.
This rebranding and capital boost underscore First Holdco’s commitment to operational efficiency and shareholder value. The announcement follows earlier plans to raise ₦300 billion, with an additional ₦150 billion unveiled in November, positioning the company for enhanced financial capacity and growth.
