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🇳🇬 Nigeria /Economy & Trade

Otedola calls FirstHoldCo’s FTSE Frontier 50 inclusion a defining milestone

From Premium Times · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • FirstHoldCo is set to enter the FTSE Frontier 50 Index on September 21, according to FTSE Russell’s September 4 market disclosure.
  • Chairman Femi Otedola called the inclusion a defining milestone and said it reflected investor confidence, stronger governance and the group’s transformation.
  • The company expects the listing to increase visibility among global institutional investors and potentially deepen liquidity and access to capital.

FirstHoldCo’s inclusion in the FTSE Frontier 50 Index marks what Chairman Femi Otedola describes as a “defining milestone” in the financial services group’s development.

The company is scheduled to enter the benchmark on September 21. The index tracks leading and investable companies across frontier markets, and FirstHoldCo will be one of six Nigerian companies represented in it. FTSE Russell noted the change in a market disclosure dated September 4.

Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution.

· Femi OtedolaThe FirstHoldCo chairman described the company’s scheduled entry into the index.

Otedola said the inclusion confirmed the transformation underway at FirstHoldCo and the confidence investors continue to place in the institution. “Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution,” he said. “It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.”

He added that the group would focus on building “a stronger, more profitable and globally competitive financial services group” while delivering sustainable value to shareholders. FirstHoldCo said its inclusion followed strong market performance and sustained investor interest, supported by improved financial results, strategic execution, stronger governance and a focus on long-term shareholder value.

It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.

· Femi OtedolaOtedola said the index inclusion reflected the company’s transformation and investor confidence.

The company described the development as more than an index listing. It said the recognition reflected its scale, governance standards, market depth and long-term value proposition. The listing could bring deeper liquidity, more institutional participation and greater access to global capital, with asset managers, exchange-traded funds and pension funds among the investors expected to take greater interest.

The announcement follows FirstHoldCo’s statement that it had met the Central Bank of Nigeria’s minimum capital requirement. The group said it remains focused on strengthening its capital base, improving financial resilience and expanding its capacity for growth. Group Managing Director Wale Oyedeji said the achievement reflected the commitment and execution of the board, management and employees.

a stronger, more profitable and globally competitive financial services group

· Femi OtedolaOtedola outlined the group’s stated objective while discussing its future focus.
About this summary

Originally published by Premium Times in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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