VFD Group Plc has confirmed that its N50 billion rights issue has been fully subscribed, a development the company says will significantly strengthen its financial capacity and enhance long-term shareholder value.
The investment holding company raised a total of N50.067 billion through the issuance of 5.067 billion ordinary shares priced at N10.00 per share. The offer attracted both existing and new investors, with existing shareholders accounting for about 88 per cent of total participation, underscoring strong confidence in the Group’s strategic direction.
Brandspur Banking News Desk reports that following regulatory approval, the newly issued shares will be credited to shareholders’ accounts with the Central Securities Clearing System and subsequently listed for trading on the main board of the Nigerian Exchange.
The Group said the successful completion of the rights issue positions it to scale its existing business verticals while accelerating the incubation of new ventures within its investment ecosystem. It noted that the capital injection comes at a time when the company is pursuing broader growth opportunities across multiple sectors of the economy.
Market reaction to the regulatory approval was swift. VFD Group’s share price closed at N12.50 per share on March 13, 2026, marking a 25 per cent gain for investors who subscribed at the offer price of N10.00 per share.
Group Chief Executive Officer, Nonso Okpala, said the outcome reflects strong shareholder trust in the company’s growth strategy. He stated that the fresh capital would support VFD Group’s ambition to expand its footprint as a leading African investment holding company, while addressing critical gaps across key sectors of the economy.
Also speaking, Executive Director, Finance, Folajimi Adeleye, said the fully subscribed offer demonstrates investor confidence in the Group’s governance and risk management framework. He added that the increased capital base would help the company recapitalise its regulated entities, improve operational efficiency and deliver improved returns on equity over the medium to long term.
VFD Group said proceeds from the rights issue will be deployed to strengthen flagship businesses, meet evolving regulatory requirements in capital market operations and fast-track its business incubation programme, as the company positions itself for sustained growth and value creation.
