VFD Group’s listing adds N45bn to Nigeria’s stock market

VFD Group Plc, a proprietary investment company, has listed on the Main Board of Nigerian Exchange Limited (NGX). 

The listing of the company’s shares has added over N45 billion to the market capitalisation of the NGX, further boosting liquidity in the capital market and providing opportunities for wealth creation, the bourse said in a statement on Thursday. 

“We are excited to join the distinguished ranks of companies listed on the Exchange, and we are confident that this step will provide us with the resources we need to continue our growth trajectory and serve our shareholders even better,” the Chairman of VFD Group, Olatunde Busari, said.

The Group Managing Director/CEO of VFD Group Plc, Nonso Okpala, described the listing as “a momentous occasion” for the company.

“Our journey from a boutique investment firm to a publicly traded company on the Nigerian Exchange reflects the dedication and hard work of our entire team,” he said. “We are excited about this new chapter and the opportunities it brings to further strengthen our market position.”

He said the company will continue to work toward its strategic goal of creating Africa’s first diverse business ecosystem.

“When compared to where we started, what we set out to achieve, and economic realities, the Group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet,” he added. 

The CEO, NGX, Temi Popoola, said: “The decision to list on NGX not only promises to augment VFD Group’s liquidity but also strategically positions it to attract investments from the global arena. Additionally, this move is poised to elevate the organisation’s market value whilst further advancing transparency and corporate accountability.

“Our marketplace is a highly reputable platform for raising capital and facilitating sustainable growth for national development. As the preferred listing platform in the region, we are dedicated to collaborating with companies at different growth stages to explore diverse capital market opportunities that align with their business goals.”

Last month, the group voluntarily delisted its 190 million shares previously traded on the NASD Securities Exchange in order to be quoted on NGX.