VFD Group Lists 63.3 million Shares from Rights Issue on NGX

April 9, 2024
VFD Group

By Aduragbemi Omiyale

The 63,342,455 ordinary shares of 50 Kobo each sold to investors by VFD Group Plc from its rights issue have been listed on the Nigerian Exchange (NGX) Limited.

Business Post reports that the company raised about N12.5 billion from the exercise, according to a regulatory note obtained by this newspaper.

VFD Group issued the additional stocks to shareholders at a unit price of N197.33 and was allotted on the basis of one ordinary share for every three held by beneficiaries at the close of business on October 12, 2023.

The new equities were listed on the exchange on Friday, April 5, 2024, increasing the total issued and fully paid-up shares of the organisation to 253,369,820 ordinary shares, the disclosure stated.

“Trading licence holders are hereby notified that an additional 63,342,455 ordinary shares of 50 Kobo each per share of VFD Group Plc were on Friday, April 5, 2024, listed on the daily official list of the NGX Limited.

“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,” the statement said.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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