VFD Group Plc (NGX: VFDGROUP) a leading financial services holding company, has announced a landmark ₦50 billion Rights Issue to its existing shareholders — a bold step to strengthen its financial base and accelerate its five-year strategic growth plan.
The Rights Issue involves 5,067,396,400 ordinary shares of ₦0.50k each, offered at ₦10 per share to eligible shareholders.
The offer is on the basis of 2 new ordinary shares for every 3 existing shares held as of August 8, 2025, which served as the qualification date. Payment is due in full upon acceptance.
Key dates
- Offer Opened: Wednesday, October 15, 2025
- Offer Closes: Monday,November 24, 2025
In a shareholder letter dated October 21, 2025, Group Managing Director Nonso Okpala said the decision, approved at the company’s Annual General Meeting (AGM) on May 9, 2025, is anchored on a vision to build a “Fortress Balance Sheet.”
According to Okpala, the initiative aims to transform VFD Group into a world-class international principal investment company with strong cash reserves and highly liquid assets, positioning it to capitalise on new funding and investment opportunities.
According to VFD Group, the timing is deliberate, designed to take advantage of Nigeria’s evolving macroeconomic landscape marked by policy reforms and renewed growth momentum, creating opportunities for well-capitalised institutions.
The letter projected that the capital injection has “clear potential to double our balance sheet in the coming years.”
VFD Group listed in 2023 on the Nigerian Exchange (NGX) and raised ₦12.5 billion that year.
In 2024, the Board further approved a ₦2.50 per share dividend and a 5-for-1 bonus issue, underscoring confidence in the Group’s long-term value creation.
Management has urged shareholders to take advantage of the Rights Issue to increase their ownership ahead of what it describes as a major growth phase.
“This is your chance to expand your ownership before VFD’s balance sheet doubles,” the letter emphasised.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
