VFD Group Receives SEC’s Approval for N50.6bn Rights Issue Allotment

VFD Group Plc, a principal investment firm, has announced that the Securities and Exchange Commission (SEC) has issued a letter of no objection for the Basis of Allotment (BoA) for the Group’s Rights Issue of 5,067,396,400 ordinary shares of 50 kobo each at N10 per share.

The rights issue, which opened on October 20, 2025, and closed on December 31, 2025, was offered on a basis two new shares for every three shares previously held. 

The SEC letter confirms the successful conclusion of the capital raise and initiates the formal distribution of units to shareholders.

The share allotment will be conducted via e-allotment to the Central Securities Clearing System (CSCS) accounts of successful allottees. 

VFD Group PLC has coordinated with its Registrars, Africa Prudential Plc, to ensure an efficient settlement process.

Concerning the approval received, the Group Managing Director, Nonso Okpala highlighted: “We are pleased to have received the SEC clearance for the basis of allotment. This milestone allows us to officially welcome new and existing shareholders into this expanded capital structure. 

“The successful uptake of this rights issue provides the necessary capital buffer to harden our institutional infrastructure and accelerate our pan-African footprint. We thank our shareholders for their continued belief and confidence in the VFD vision.”

VFD Group is a leading principal investment firm listed on the Nigerian Exchange Limited (NGX). 

The Group manages a diverse portfolio across financial services & technology, capital market infrastructure, hospitality and real estate, focused on building Africa’s most valuable ecosystem of businesses.