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Tag: VFD Group

  • VFD Group raises N12.5b new equity from shareholders

    VFD Group raises N12.5b new equity from shareholders

    VFD Group Plc has successfully raised about N12.5 billion new equity funds from its shareholders, strengthening its balance sheet for its long-term investment targets.

    Regulatory filing at the weekend indicated that VFD Group sold 63.34 million ordinary shares of 50 kobo each to shareholders at N197.33 per share. The rights issue was pre-allotted on the basis of one new share for every three shares already held as at the close of business on October 12, 2023.

    To mark the completion of the rights issue, the additional shares of 63.34 million ordinary shares that arose from the rights issue were listed on the Nigerian Exchange (NGX) at the weekend.

    With the additional shares, the total issued and fully paid up shares of VFD Group increased from 190.027 million ordinary shares of 50 kobo each to 253.340 million ordinary shares of 50 kobo each.

    VFD Group had in October 2023 listed its shares on the NGX. The listing of VFD Group’s shares had added N46.5 billion to the market capitalisation at NGX, further boosting liquidity in the Nigerian capital market and providing more opportunities for wealth creation. A total of 190.027 million ordinary shares of 50 Kobo each were listed in VFD Group’s name at N244.88 per share

     In 2021, VFD Group had successfully raised additional capital of N4.1 billion through a rights issue to support ongoing expansion plans.

    Chairman, VFD Group Plc, Mr. Olatunde Busari, at a meeting, outlined the group’s strategic growth plan to its shareholders with a commitment that the group will consolidate on existing businesses and seek out cross-border opportunities to drive growth in the years ahead.

    Read Also: VFD Group mulls special stock exchange for entertainment, media industry

    He said the group remains optimistic about the general outlook and would position itself to take advantage of opportunities that present themselves during the year.

    According to him, the group would also focus on consolidating its existing business interests and drive its vision of becoming a commercially viable proprietary investment company with global influence.

    “We will continue to seek cross border opportunities that enable us access new market to help us aggregate the service offerings of our portfolio companies and collaborations outside our ecosystem to build a platform that allows us ring-fence stakeholder value chain,” Busari said.

    He pointed out that as an organisation, VFD Group would always be measured by how much value it delivers to its shareholders, employees, community and all other stakeholders, assuring that the group remains committed to good governance and ethical business practices that promote the long-term interests of its stakeholders.

  • VFD Group, Narrative Landscape host Chimamanda Adichie’s ‘Mama’s Sleeping Scarf’

    VFD Group, Narrative Landscape host Chimamanda Adichie’s ‘Mama’s Sleeping Scarf’

    In alignment with its commitment to corporate social responsibility, VFD Group partnered with Narrative Landscape Press and GLG Communications to host Chimamanda Ngozi Adichie’s ‘Mama’s Sleeping Scarf’ at the Alliance Francaise/Mike Adenuga Centre, Ikoyi Lagos.

    The collaboration focused on promoting the love for reading and supporting education, reflecting VFD Group’s dedication to social impact.

    Executive Director of VFD Group, Adeniyi Adenubi, and Head of Marketing & Corporate Communications, Muyiwa Olowoporoku, led the initiative by donating copies of ‘Mama’s Sleeping Scarf’ to students from Kesham International School, among others.

    Additionally, the investment company facilitated the attendance of a hundred children from less privileged schools, providing them with an opportunity to participate in engaging activities and a special book reading session with Chimamanda. Each child left the event with Santa’s gifts and a personally signed copy of the book, contributing to their literary journey.

    Read Also: Obasanjo, Peter Obi, others attend Chimamanda Adichie’s children book launch

    The event, aptly titled “Christmas Magic with Chimamanda,” transcended the realms of literature, combining intellectual sophistication with celebratory elements.

    Anchored by media personality Kunle Kasumu, the event welcomed esteemed guests which included Former President of Nigeria, Chief Olusegun Obasanjo; Former Minister of Solid Minerals of Nigeria, Dr, Obiageli Ezekwesili; Former Governor of Anambra State and Presidential Aspirant of the Labour Party, Peter Gregory Obi; Nigerian Business Executive, Arts Enthusiast, and Philanthropist; Bella Disu, Business leader and Snr. Lecturer at Harvard Business School, Hakeem Belo-Osagie, among others.

    In a heartfelt address, Adeniyi Adenubi underscored the importance of Chimamanda’s literacy advocacy and shared personal stories of reading to his child, emphasizing the profound impact on their bond. Chimamanda, in her address, highlighted the crucial role of good grammar and reading in personal development.

    The event concluded with a Q&A session where Chimamanda provided insightful answers, leaving a lasting impression on all attendees. The proprietary investment company’s involvement showcased a holistic approach to corporate social responsibility, intertwining literature, philanthropy, and education for a meaningful societal impact.

  • Group wins equity listing of the year

    Group wins equity listing of the year

    VFD Group has emerges Listed Company of the Year at the NGX Made of Africa Awards, a significant recognition of excellence in shaping the stock market landscape.

    The event, held on December 20th, 2023, celebrated companies demonstrating exceptional dedication to driving impact and progress across Nigeria and African capital markets.

    Designed to acknowledge outstanding contributions within the capital market ecosystem, the awards spotlight companies and individuals showcasing exceptional performance, value delivery, and sustainable impact. Emphasizing adherence to high ethical standards and compliance with NGX’s regulations, the accolades are a testament to VFD Group’s commitment to excellence.

    VFD Group was announced as the winner of the Listing of the Year (Equity) award at an intimate cocktail event held on the 9th floor of the Nigeria Exchange Limited. The company’s strategic move to list on the Main Board of NGX on October 6, 2023, marked a pivotal milestone, contributing over N45 billion to NGX’s market capitalization. This not only boosted liquidity in the Nigerian capital market but also created opportunities for wealth creation.

    At the Closing Gong Ceremony, marking the end of the awards ceremony, Nonso Okpala, Group Managing Director/CEO of VFD Group, expressed his excitement, “Thank you very much for receiving us warmly once again. Our excitement persists from the earlier visit this year for the Listing, and we are doubly delighted to be here.”

    Okpala went on to commend the leadership of the Exchange, especially the CEO, Temi Popoola, whom he believes has done a fantastic job. “I would like to extend my appreciation to the Exchange, under the commendable leadership of Temi Poopola, who has not only done a fantastic job but has also demonstrated great foresight in positioning the exchange for the future. One of the remarkable initiatives, from our perspective, is the creation of the investment company category. This is a revolutionary step for the exchange, and we believe it will have a positive impact as the market recognizes the capacity and potential returns, along with the Governance Enforcement these companies bring. This development will undoubtedly enhance trust in the market, leading to increased participation and involvement, which will ultimately be beneficial for the economy.”

    Also speaking at the at the awards, The Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola said, “These awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market. Through NGX Made of Africa, we remain committed to encouraging and incentivizing our partners, and promoting inclusivity as we contribute to the development of the capital market.”

    VFD Group Plc is a leading provider of investment management, wealth management, and financial advisory services with a long history of providing value to its clients. The firm manages a diverse portfolio of assets and has a strong track record of generating consistent returns for its investors.

  • VFD Group seeks N12.5b new equity funds from shareholders

    VFD Group seeks N12.5b new equity funds from shareholders

    VFD Group Plc is seeking to raise about N12.5 billion in new equity funds from its existing shareholders.

    The newly listed proprietary investment group plans to issue 63.34 million ordinary shares of 50 kobo each to its shareholders at N197.33 per share.

    The rights issue will be pre-allotted on the basis of one new share for every three ordinary shares held as at the close of business on Thursday, October 12, this year.

    VFD Group boasts of diverse investment portfolio that includes banking, non-banking financial institutions, market infrastructure, technology, real estate, hospitality, media, entertainment and energy. It holds the single largest individual stake in NGX Group.

    The planned rights issue comes on the heels of recent listing of VFD Group on the Nigerian Exchange (NGX).

    The listing of VFD Group’s shares added N46.5 billion to the market capitalisation at NGX, further boosting liquidity in the Nigerian capital market and providing more opportunities for wealth creation.

    A total of 190.027 million ordinary shares of 50 Kobo each were listed in VFD Group’s name at N244.88 per share.

    In 2021, VFD Group had successfully raised additional capital of N4.1 billion through a rights issue to support ongoing expansion plans.

    Read Also; Plan to decongest Lagos port through rail suffers setback

    Chairman, VFD Group Plc, Mr. Olatunde Busari, SAN, at a meeting, outlined the group’s strategic growth plan to its shareholders with a commitment that the group will consolidate on existing businesses and seek out cross-border opportunities to drive growth in the years ahead.

    He said the group remains optimistic about the outlook and would position itself to take advantage of opportunities that present themselves during the year.

    According to him, the group would also focus on consolidating its existing business interests and drive its vision of becoming a commercially viable proprietary investment company with global influence.

    “We will continue to seek cross border opportunities that enable us access new market to help us aggregate the service offerings of our existing portfolio companies and collaborations outside our ecosystem to build a platform that allows us ring-fence stakeholder value chain,” Busari said.

    He pointed out that as an organisation, VFD Group would always be measured by how much value it delivers to its shareholders, employees, community and all other stakeholders, assuring that the group remains committed to good governance and ethical business practices that promote the long-term interests of its stakeholders.

    At the listing ceremony at NGX, Busari explained that the group is a proprietary investment group that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the every citizen and entrepreneur.

    He said the 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.

    “We are excited to join the distinguished ranks of companies listed on the Exchange, and we are confident that this step will provide us with the resources we need to continue our growth trajectory and serve our shareholders even better,” Busari said.

    Group Managing Director, VFD Group Plc, Mr. Nonso Okpala said the listing was a momentous occasion for the VFD Group.

    According to him, the group’s journey from a boutique investment firm to a publicly traded company on the NGX reflects the dedication and hard work of its entire team.

    “We are excited about this new chapter and the opportunities it brings to further strengthen our market position.

    “We will continue to work toward our strategic goal of creating Africa’s first diverse business ecosystem. When compared to where we started, what we set out to achieve, and economic realities, the group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet,” Okpala said.

  • VFD Group goes public with N46.5b NGX listing

    VFD Group goes public with N46.5b NGX listing

    VFD Group Plc at the weekend became a publicly quoted company with the listing of its entire paid up capital on the main board of the Nigerian Exchange (NGX).

    The listing of VFD Group’s shares added N46.5 billion to the market capitalisation at NGX, further boosting liquidity in the capital market and providing more opportunities for wealth creation.

    A total of 190.027 million ordinary shares of 50 Kobo each were listed in VFD Group’s name at N244.88 per share

    Chairman, VFD Group Plc, Mr. Olatunde Busari, SAN, explained that the group is a proprietary investment group that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the citizen and entrepreneur.

    He said the 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.

    Read Also: Nigeria to boost shrimps’ exports

    “We are excited to join the distinguished ranks of companies listed on the Exchange, and we are confident that this step will provide us with the resources we need to continue our growth trajectory and serve our shareholders even better,” Busari said.

    Group Managing Director, VFD Group Plc Mr. Nonso Okpala said the listing was a momentous occasion for the VFD Group.

    According to him, the group’s journey from a boutique investment firm to a publicly traded company on the NGX reflects the dedication and hard work of its entire team.

    “We are excited about this new chapter and the opportunities it brings to further strengthen our market position.

    “We will continue to work toward our strategic goal of creating Africa’s first diverse business ecosystem. When compared to where we started, what we set out to achieve, and economic realities, the group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet,” Okpala said.

    Chairman, Nigerian Exchange Group (NGX Group) Plc, Alhaji Umaru Kwairanga, commended the unwavering commitment of the board and management of VFD Group in making the listing a reality, as well as the pivotal roles played by all the professional parties involved in the transaction.

    According to him, securing a listing on the NGX main board entails a steadfast commitment to elevated standards of disclosure and corporate governance.

    “This significant listing heralds a fresh chapter for VFD Group Plc to leverage NGX’s value-added services and capital market products to fulfill its strategic objectives,” Kwairanga said.

    Chief Executive Officer, Nigerian Exchange (NGX), Mr. Temi Popoola, said the VFD Group would benefit from the prestige of the market as it promises not only to augment VFD Group’s liquidity but also strategically positions it to attract investments from the global arena.

    According to him, the listing will also elevate the organization’s market value whilst further advancing transparency and corporate accountability.

    “Our marketplace is a highly reputable platform for raising capital and facilitating sustainable growth for national development. As the preferred listing platform in the region, we are dedicated to collaborating with companies at different growth stages to explore diverse capital market opportunities that align with their business goals,” Popoola said.

    VFD Group had last month voluntarily delisted its shares previously traded on the NASD Securities Exchange in order to be quoted on NGX.

    VFD Group boasts of diverse investment portfolio that includes banking, non-banking financial institutions, market infrastructure, technology, real estate, hospitality, media, entertainment and energy. It holds the single largest individual stake in NGX Group.