First HoldCo Plc has officially concluded the sale of its entire stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP, following the receipt of all required regulatory approvals.
The development was disclosed on Thursday by the Group Company Secretary, Abiola Baruwa, who confirmed that the process adhered strictly to capital market regulations.
“In line with the Nigerian Exchange Limited (NGX) Rulebook, we wish to inform NGX and the investing public that First HoldCo Plc has completed the full divestment of its 100% ownership in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP,” Baruwa announced.
She added that the transaction reached its final stage only after securing all mandatory regulatory endorsements. “This transaction has been finalised after obtaining all necessary regulatory approvals from the Central Bank of Nigeria,” she said.
The divestment marks a significant strategic shift for First HoldCo Plc as the company continues to streamline its operations and reposition itself within the financial services sector.
News.ng reports that First HoldCo’s share price closed at ₦31.10 on Friday. Over the last three months (September 1 to November 28, 2025), the company has ranked among the top ten most actively traded equities on the Nigerian Stock Exchange.
During this period, about 1.2 billion shares of the firm were exchanged across 23,128 transactions, amounting to a total turnover of ₦37.3 billion. This translates to an average daily volume of roughly 19 million shares.
Trading activity peaked on October 2, when the stock recorded 112 million shares, while the lowest volume within the same period occurred on November 14, with 1.26 million shares traded.
