NGX lists VFD’s additional 63 million ordinary shares

The Nigerian Exchange Limited (NGX) has listed VFD Group Plc’s additional 63,342,455 ordinary shares of 50 kobo each at N197.33 per share, valued at N12.499 billion on its daily official list.

The additional shares listed on NGX came from VFDs’ Rights Issue on the basis of one ordinary share for every three ordinary shares held as at the close of business on October 12, 2023 on Nigerian Exchange Limited.

According to the local bourse’s weekly report, with the listing of the additional 63,342,455 ordinary shares, the total issued and fully paid-up shares of VFD has now increased from 190,027,365 to 253,369,820 ordinary shares of 50 kobo each.

It will be recalled that the company notified that the Securities and Exchange Commission (SEC) approved VFD Group Plc’s 63,342,455 ordinary shares of 50 kobo each at N197.33 per share, in a statement signed by Gbeminiyi Shoda, Group Company Secretary, VFD Group Plc.

VFD Group Plc, a sector-agnostic proprietary investment company, recently listed its shares to the main board of the NGX.

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 of the group on the NGX was 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.

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