Adedapo Adesanya
By Adedapo Adesanya
The shares of top investment company, VFD Group, have been listed on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange, Business Post can report.
Information gathered by this newspaper showed that the group had its stocks numbering 84,738,381 admitted on the NASD at N105.07 per unit, with a nominal value of 50 Kobo per share.
The firm, which placed under the Financial Sector of NASD Exchange, was given an ISIN NGSDVFDGROU4 and SDVFDGROUP as its symbol.
It was further learned that the securities were introduced to the Exchange through TRW Stockbrokers Limited and with the listing, shareholders of the company can commence the process of dematerialization their holdings with immediate effect.
This is a huge step for the company, which only became a public company earlier this year, after the successful raising of N2.8 billion through a public offering that saw the number of its shareholders rise from 50 to over 120.
After the company changed its status earlier in 2019 from a private firm to a public limited company, the Managing Director and Chief Executive Officer of the company, Mr Nonso Okpala, noted that listing its shares on the NASD OTC will ensure its marketability.
Business Post gathered that with the latest development, the investment group, which appointed African Prudential Registrars Plc as its registrar, now has a market capitalization of N8,903,461,692.
VFD Group is a financial service focused proprietary investment company that creates value by working within Nigeria’s informal financial sector to create innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.
The company operates in every area of the financial industry through their subsidiaries, providing Financial Advisory, Asset Management, Currency, Real Estate, Debt Services and Private Funds Management Services, taking deposits and providing loans at very competitive rates.
VFD Group’s subsidiaries include Anchoria Asset Management, Dynasty Real Estate, Everdon Bureau De Change, Germaine Auto Centre, VFD Bridge, VFD Microfinance Bank.
At the close of business on Friday, share price of VFD Group recorded no movement, closing at N105.07 per unit.
