The Nigerian Exchange Limited (NGX) has listed VFD Group Plc’s Rights Issue of 63,342,455 ordinary shares of 50 kobo each at N197.33 per share valued at N12.499 billion on its Daily Official List.
According to the NGX in its weekly report seen by Nairametrics, the additional shares listed on NGX arose from VFDs’ Rights Issue on the Basis of One (1) Ordinary Share for Every Three (3) Ordinary Shares Held as at the Close of Business on 12 October 2023 on Nigerian Exchange Limited.
The report noted that 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.
The statement reads:
- Trading Licence Holders are hereby notified that additional 63,342,455 ordinary shares of 50 kobo each per share of VFD Group Plc (VFD or the Company) were on Friday, 5 April 2024, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).
- The additional shares listed on NGX arose from VFD’s Rights Issue of 63,342,455 ordinary shares of 50 Kobo each at N197.33 per share.
- With this 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.
Nairametrics reported recently 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.
This was contained in the company’s notice to the Nigerian Exchange Limited and the general public seen by Nairametrics.
Approval from the Securities Exchange Commission
According to the statement signed by Gbeminiyi Shoda, Group Company Secretary VFD Group Plc noted that it has obtained approval from the Securities Exchange Commission (SEC) to offer to the shareholders the proposed Rights Issue of 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 Per Share based on one (1) new ordinary share for every three (3) existing ordinary shares held.
It noted that the Qualification Date for the Rights Issue is October 12, 2023, and the application list opened on 20 December 2023 as approved by the Commission and shall open for a maximum period of 31 days.
According to the group, the Rights circular will be distributed to shareholders while application forms will also be made available on the website of the company’s Registrars for ease of access.
What you should know
- VFD Group Plc, a sector-agnostic proprietary investment company, recently listed its shares to the Main Board of Nigerian Exchange Limited (NGX).
- 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.