VFD Group Plc has introduced the launch of a N50.7 billion rights problem geared toward strengthening its capital base and accelerating its strategic development agenda throughout Africa and past.
The announcement was made throughout a proper signing ceremony held on Wednesday, marking a major milestone within the firm’s enlargement journey.
Talking on the occasion, Group Managing Director and CEO Nonso Okpala emphasised that the capital increase is pushed by efficiency, not necessity.
“Our 1,202% revenue earlier than tax turnaround is the definitive proof of idea for our proprietary mannequin,” Okpala mentioned. “It demonstrates our capability to show market dislocations into arbitrage alternatives. We’re presenting a quantifiable actuality, not a concept.”
He described the rights problem as a strategic capital acceleration for VFD’s international enlargement plan, which is already energetic in Ghana and making inroads into Southern Africa. “This capital ensures VFD can strategically transfer from a longtime presence to vital market stake acquisition. The unified African economic system represents a serious development wave, and this capital ensures VFD acquires a major stake in that development,” Okpala added.
Shareholder Confidence and Strategic Deployment
Chairman of VFD Group, Olatunde Busari (SAN), acknowledged the help of shareholders, regulators, and advisers.
“Immediately marks a major milestone within the journey of VFD Group Plc. We’re gathered right here to formally signal and commemorate the launch of our N50.67 billion Rights Challenge, a pivotal step in strengthening our capital base and advancing our strategic development agenda,” he mentioned.
Busari recalled that on the firm’s eighth Annual Normal Assembly, shareholders accepted a capital increase of as much as N30 billion, of which N12.5 billion was efficiently raised. Constructing on that momentum, the ninth AGM held on Might 8, 2025, approved the Board to lift an extra N50 billion by way of numerous devices.
Following consultations with advisers, the Board accepted the rights problem comprising 5,067,396,400 peculiar shares of fifty kobo every, supplied at N10 per share on the premise of two new shares for each three current shares held.
The web proceeds, estimated at N49.55 billion, shall be used to deleverage the corporate’s steadiness sheet, fund geographical enlargement into the UK and Southern Africa, and improve investments in key subsidiaries.
Constructing a Resilient Pan-African Funding Group
VFD Group’s asset base has now exceeded N356 billion, underscoring its monetary power and operational momentum. The capital increase is predicted to reinforce liquidity, enhance leverage ratios, and place the corporate to seize rising alternatives throughout a number of sectors and areas.
“As we signal these paperwork immediately, we aren’t merely executing a transaction—we’re reinforcing our collective perception in VFD’s future,” Busari mentioned. “This Rights Challenge marks the start of a brand new section of development, innovation, and worth creation for our stakeholders.”
He concluded by reaffirming the corporate’s dedication to constructing a pan-African funding group rooted in excellence, integrity, and sustainable prosperity.
What You Ought to Know
- The rights problem is coming barely two weeks after Abbey Mortgage Bank introduced that VFD Group, its largest shareholder, offered 400,828,935 items of the bank’s shares value over N2.72 billion.
- The transaction was disclosed in a submitting on the Nigerian Alternate (NGX), signed by the corporate’s secretary, Geoff Amaghereonu, and executed in Lagos.
- In keeping with the discover, the shares have been offered on September 17, 2025, at a mean worth of N6.80 per share beneath the identification code NGABBEY00001.
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