BY FESTUS OKOROMADU
VFD Group Plc has through its stockbrokers, TRW Stockbrokers Limited, filed an application to the Nigerian Exchange Limited for the approval and listing of a rights issue of 63.342 million ordinary shares of 50 kobo each at N197.33 per share.
According to a statement from the NGX application, the right issue is based on one ordinary share for every three existing ordinary shares held as of the close of business on Thursday, October 12, 2023.
VFD Group Plc, a sector-agnostic proprietary investment company, recently listed its shares to the Main Board of Nigerian Exchange Limited.
The official listing was celebrated with a Closing Gong ceremony and a Fact Behind the Listing Presentation, marking a key milestone in the company’s history.
The listing of 190 million units of shares of the Group at N244.88 per share added N46.527 billion to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.
VFD Group is a proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the everyday Nigerian citizen and entrepreneur.
This listing on NGX is a strategic move to increase VFD Group’s visibility, enhance its access to capital, and improve its liquidity, ultimately benefiting its valued investors and stakeholders.
