…on the basis of 1 for 3
Trading license holders of the Nigerian Exchange Limited (NGX) have been notified that VFD Group Plc (VFD Group) through its Stockbrokers, TRW Stockbrokers Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of 63,342,455 ordinary shares of 50 kobo each at N197.33 per share.
The Rights Issue comes on the basis of 1 new ordinary share for every 3 existing ordinary shares held as at the close of business on Thursday October 12, 2023.
The qualification date for the Rights Issue is October 12, 2023.
Barely a week ago, VFD Group Plc listed its shares on the Main Board of Nigerian Exchange Limited (NGX).
The listing of VFD Group’s shares added over N45 billion to the market capitalisation of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.