• VFD Group plans ₦50.67B rights issue at ₦10/share.

• Shareholders offered two new shares for every three held.

• Funds to boost capital, expand operations, support growth.

VFD Group, a Nigerian holding company with interests in finance, real estate, technology, and media, has requested a rights issue worth more than 50.67 billion naira (over $32 million), the Nigerian Exchange Limited (NGX) announced Friday, August 8.

The capital raise, which will be led by Anchoria Securities Limited, TRW Stockbrokers Limited, and ARM Securities Limited, involves the issuance of 5,067,396,400 new ordinary shares at a price of 10 naira per share.

Existing shareholders will have the right to subscribe to two new shares for every three ordinary shares they currently hold. This structure is intended to bolster the participation of current shareholders and ensure stability in the company’s capital. The funds raised are earmarked for strengthening VFD Group's capital base, expanding its operations, and supporting long-term growth initiatives.

The announcement follows a period of strong performance for the company. VFD Group reported a net profit of 3.72 billion naira in the first half of 2025, up from 1.94 billion naira in the same period in 2024. This resulted in basic earnings per share from continuing operations rising to 0.49 naira, compared with 0.26 naira a year earlier. Diluted earnings per share saw the same increase, a result that analysts say could boost shareholder confidence in the success of the fundraising.

SG