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VFD said it is offering 63,342,455 shares of 50 kobo each at N197.33 per share to existing shareholders.
Rights issues are an offer by a company to its shareholders to buy more of their shares at a given price and deadline
VFD Group was listed on the Nigerian Exchange Ltd in October 2023.
The NGX admitted 190,027,365 ordinary shares of 50k of VFD Group with a share price of N244.88 per share.
With the listing, VFD Group has added N46,533,901,141.2 to the market capitalisation of the NGX.
The company said it is “pleased to notify its esteemed shareholders, stakeholders the NGX and the general public, that the Ccomoany has obtained approval from the Securities Exchange Commission to offer to the shareholders the proposed Rights Issue of 63,342,455 Ordinary Shares of 50 Kobo
each at N197.33 Per Share, on the basis of one (1) new ordinary share for every three (3) existing ordinary shares held.”
The qualification date for the rights issue is October 12, 2023, and the application list opened on December 20, 2023.
VFD noted that the offer will be open for a maximum period of 31 days.
THE WHISTLER had reported that VFD Group started in 2009 when 35 shareholders raised N2.5m to build an investment proprietary company with a diversified investment portfolio in private equities, venture capitals and assets management companies among others.
Fourteen years later, the company has invested in 40 companies across seven sectors, including finance, health, tech, entertainment, power, telecommunications, and service.
Within the 14 years, the company has gathered an impressive growth trajectory from a total asset of N3m and shareholders fund of N2.5m in 2009 to N149.1bn in total assets and N31.5bn in shareholders’ fund respectively.
Some of the companies are Anchoria Asset Management, VFD Microfinance Bank, Anchoria Investment and Securities Ltd, Amali, Atiat and Piggyvest among others.
