• VFD plans to issue over 5 billion new shares to raise ₦50.67 billion ($32 million).
• Existing shareholders get priority: 2 new shares for every 3 held.
• Net profit jumped to ₦3.72 billion in H1 2025, up 92% year-on-year.

VFD Group, a Nigerian holding company with operations in finance, healthcare, real estate, media and technology, has applied to the Nigerian Exchange Limited for a rights issue worth more than ₦50.67 billion ($32 million). The Exchange announced the move on August 8.

Anchoria Securities Limited, TRW Stockbrokers Limited and ARM Securities Limited will manage the transaction. VFD will issue 5,067,396,400 new ordinary shares at ₦10 each.

The rights issue gives existing shareholders the option to buy two new shares for every three they own. This approach deepens shareholder involvement, protects capital stability and keeps control within the current investor base.

VFD says the funds will strengthen its capital base, expand its operations and drive long-term growth plans.

VFD posted a net profit of ₦3.72 billion in the first half of 2025, up from ₦1.94 billion in the same period of 2024. Basic earnings per share from continuing operations rose to ₦0.49 from ₦0.26. Diluted earnings per share also doubled to ₦0.49.

The sharp rise in profitability could encourage investors to take up the rights issue and back the company’s expansion push.

SG