First HoldCo Selloff Deepens to 29% as 478 Million Shares Worth N44.94bn Change Hands

First HoldCo Plc extended its recent selloff on Thursday as its share price fell to N110, deepening its decline to 29% from N155 on October 27, 2026.

The stock declined by another 2.4% from N112.70 recorded in the previous trading session, continuing a sustained retreat that has wiped N45 per share from its value in just over a week.

First HoldCo traded at N155 on October 27 before falling to N139.50 on October 28 and N125.55 on October 29. It declined further to N119.15 on October 30 before closing unchanged at N118.20 on both November 2 and November 3.

The selloff resumed on November 4 when the stock dropped to N112.70 before extending the decline to N110 on November 5.

Despite the continued pressure on the share price, trading activity around First HoldCo remained exceptionally high.

Data from the Nigerian Exchange showed that 478.42 million First HoldCo shares valued at N44.94 billion changed hands during Thursday’s trading session.

The transaction accounted for approximately 55.9% of the 856.28 million shares traded across the entire equities market and 60.7% of the N74.09 billion total market turnover.

The scale of First HoldCo’s activity was particularly significant given that the remaining market accounted for only about N29.15 billion in traded value.

Separate daily price data showed volume of 10.52 million shares alongside the N110 closing price, indicating a substantial difference between regular price-linked trading data and the broader First HoldCo turnover reported in the NGX market activity figures.

The data provided does not establish the nature of the additional transactions, and Investors King therefore cannot determine from the figures alone whether the difference resulted from negotiated, cross or other transactions outside regular order-book activity.

The latest activity follows another exceptionally large turnover recorded on October 30, when 414.35 million First HoldCo shares changed hands.

Thursday’s 478.42 million shares were about 15.5% higher than the October 30 volume, showing that unusually heavy activity around First HoldCo has persisted even as its market price continues to decline.

At N110, First HoldCo has now lost N45 or approximately 29% from the N155 recorded on October 27.

The sustained decline alongside exceptionally large transactions will keep attention on First HoldCo as investors assess whether the heavy turnover represents continued selling pressure, large block transfers or changing positions among major holders.