VFD Group has listed an additional 63,342,455 ordinary shares of 50 kobo each per share on the Daily Official List of the Nigerian Exchange Limited.
The NGX disclosed this in its weekly market report issued on Friday.
The additional shares listed on NGX arose from VFD’s rights issue of 63,342,455 ordinary shares of 50 Kobo each at N197.33 per share.
With the listing of the additional 63,342,455 ordinary shares, the total issued and fully paid-up shares of VFD have increased from 190,027,365 to 253,369,820.
Meanwhile, the Central Securities Clearing System Plc has appointed the Group Managing Director/CEO of VFD Group, Nonso Okpala, to its board.
With this appointment, Okpala who already sits on the board of the NGX Group, now sits on the board of two companies vital to capital market activities in the country.
Under Okpala’s leadership, VFD Group, a proprietary investment company, has evolved from an initial capital of N2.5m to a company with assets now exceeding N200bn, with investments spanning over 40 businesses across various sectors of the Nigerian economy.
A statement from the firm said that Okpala believed that attracting the continent’s youths to the capital market was essential for driving innovation and adaptability.
“His vision extends beyond traditional stock markets to advocate for the development of alternative exchanges and the integration of cutting-edge technology. By attracting young, tech-savvy individuals to the capital market, there is a significant opportunity to enhance efficiency, transparency, and accessibility.
“This infusion of innovation can catalyse growth not only in alternative exchanges but also benefit the traditional stock market by introducing new perspectives and methodologies,” part of the statement read.
