By Aduragbemi Omiyale
A leading proprietary investment company, VFD Group Plc, intends to source N32.5 billion from the Nigerian capital market to increase its shareholder value, strengthen its market position, and support its strategic growth objectives through new strategic investment opportunities.
The organisation has already obtained the approval of its shareholders to go ahead with the capital raising since it was for the overall benefit of the firm’s stakeholders.
Business Post gathered that VFD Group hopes to raise the funds through a rights issue to existing shareholders and a debt issuance programme. About N12 billion is expected from the rights issue.
To achieve smooth capital raising, the board of the company has appointed some best-in-class professional parties, demonstrating its commitment to upholding the highest standards of transaction execution, regulatory compliance, and corporate governance to ensure the rights issue’s success.
It was learned that Kairos Capital Limited was picked as Financial Adviser to advise on the recapitalisation process, while United Capital Plc was chosen as the Lead Issuing House for its rights issue.
Further, CardinalStone Partners Limited, Kairos Capital Limited, and Norrenberger Advisory Partners Limited are the Joint mandated Issuing Houses.
In addition, Anchoria Investments & Securities Limited, CardinalStone Securities Limited, TRW Stockbrokers Limited, and Edgefield Capital Management Limited have been appointed as stockbrokers for the rights issue, and the offer solicitors are Udo Udoma & Belo-Osagie.
VFD Group has footprints in banking, non-banking financial institutions, market infrastructure, technology, real estate, hospitality, media, entertainment, and energy.
