RC Investment Management Limited (RCIM) has transferred about 5.2 billion First HoldCo Plc shares to investors as part of an ongoing divestment involving a 10.43 billion-unit stake acquired in July 2025.
In a statement issued on Thursday, First HoldCo and RCIM said the transaction was carried out under a shareholder divestment arrangement approved by the Central Bank of Nigeria (CBN).
RCIM acted as an independent bridge holder under the arrangement, acquiring the shares before facilitating their transfer to investors.
The latest transfer represents a significant step in the ongoing disposal of the shareholding, although the statement did not provide further details on the investors involved or the terms of the latest transactions.
The transaction comes amid reported strong investor demand for the shares, with the transfer forming part of the broader process of distributing the 10.43 billion-unit holding acquired by RCIM in July 2025.
First HoldCo and RCIM did not disclose when the remaining shares would be transferred or provide a detailed timeline for the completion of the divestment.
Further details on the transaction, including the identities of the investors and the final distribution of the shares, were not immediately available.
