VFD Group Plc (NGX: VFDGROUP) has listed 5,067,396,400 new ordinary shares on the Nigerian Exchange Limited (NGX) after completing its rights issue.
The new shares were sold at N10.00 per share. Existing shareholders were given the option to buy two new shares for every three shares they already owned as of August 8, 2025.
After this listing, the total number of VFD Group’s shares has increased from 7.60 billion to 12.67 billion shares. This means the company now has more shares in the market, which can reduce earnings per share if profits do not grow.
The stock is currently trading at N11.40 per share on the NGX, which is higher than the rights issue price. This shows that investors are still willing to buy the stock above the offer price.
The key issue now is how the company will use the money raised.
Investors will be watching closely to see if it leads to higher profits and better returns.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
