The parent company of First Bank, FBN Holdings Plc has announced a proposal to change its legal and brand name to First Holdco Plc at its forthcoming 12th Annual General Meeting (AGM), scheduled for November 14, 2024.
This proposed rebranding, which will also extend to its subsidiaries, is part of a series of special resolutions to be considered by shareholders at the AGM.
The company’s directors will be authorized to take all necessary actions to execute the name change, including amending the company’s Memorandum and Articles of Association to reflect the new legal name and share capital structure, subject to regulatory approvals.
The rebranding to First Holdco Plc marks a pivotal moment for FBN Holdings as it seeks to modernize its identity and streamline its corporate structure.
This change is designed to better reflect the company’s evolution into a diversified financial services group, while still maintaining its position as one of Nigeria’s most established financial institutions, with over 130 years of history.
By extending the new name across all its subsidiaries, FBN Holdings aims to present a unified brand that strengthens its market presence and aligns with its long-term strategic vision.
The proposed name change comes amid FBN Holdings’ ongoing efforts to raise capital and strengthen its balance sheet.
The company recently revised its proposed Rights Issue to N25 per share, seeking to raise N350 billion.
Source: Nairametrics
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