The Nigerian Exchange Limited (NGX) has listed VFD Group Plc’s Rights Issue of 63,342,455 ordinary shares of 50 kobo each at N197.33 per share valued at N12.499 billion on its Daily Official List.
According to the NGX in its weekly report seen by Nairametrics, the additional shares listed on NGX arose from VFDs’ Rights Issue on the Basis of One (1) Ordinary Share for Every Three (3) Ordinary Shares Held as at the Close of Business on 12 October 2023 on Nigerian Exchange Limited.
The report noted that with the listing of the additional 63,342,455 ordinary shares, the total issued and fully paid-up shares of VFD has now increased from 190,027,365 to 253,369,820 ordinary shares of 50 kobo each.
The statement reads:
Nairametrics reported recently that the Securities and Exchange Commission (SEC) approved VFD Group Plc’s 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 Per Share.
This was contained in the company’s notice to the Nigerian Exchange Limited and the general public seen by Nairametrics.
According to the statement signed by Gbeminiyi Shoda, Group Company Secretary VFD Group Plc noted that it has obtained approval from the Securities Exchange Commission (SEC) to offer to the shareholders the proposed Rights Issue of 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 Per Share based on one (1) new ordinary share for every three (3) existing ordinary shares held.
It noted that the Qualification Date for the Rights Issue is October 12, 2023, and the application list opened on 20 December 2023 as approved by the Commission and shall open for a maximum period of 31 days.
According to the group, the Rights circular will be distributed to shareholders while application forms will also be made available on the website of the company’s Registrars for ease of access.