VFD Group Plc has received the approval of Securities and Exchange Commission (SEC) to extend its ongoing Rights Issue of N50.673 billion. The rights issue will now remain open until December 26, 2025.
The additional window is intended to accommodate the rising number of shareholders indicating interest in exercising their rights and to ensure broad-based access to the offering.
The Rights Issue extension follows strong investor uptake and a steady acceleration in participation across all categories of qualified shareholders, including retail investors, institutional holders, and members of the diaspora.
The Rights Issue provides eligible shareholders with an opportunity to subscribe for 2 new ordinary shares for every 3 existing ordinary shares held, at a subscription price of N10 per share.
The Company encourages all eligible shareholders who have not yet subscribed to take advantage of this extended period to complete their applications.
The programme forms part of the Company’s broader strategy to reinforce its capital base, support long-term growth, and enhance shareholder value.
Commenting on the extension, VFD Group stated that the approval underscores its commitment to maximising shareholder participation and reflects the confidence investors have continued to show in
the Group’s performance trajectory and strategic direction.
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