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Investment company VFD Group set to raise N32.5 billion through equity, debt

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The Lagos-based firm plans to source N12.5 billion from stockholders via a rights issue and N20 billion through debt.

will tap the capital market to raise fresh cash through a blend of equity and debt totalling N32.5 billion after shareholders greenlighted the move, the company said in a statement Tuesday.

Proceeds from the rights offering are at the heart of VFD Group’s plan to “increase shareholder value, strengthen its market position, and support its strategic growth objectives through new strategic investment opportunities,” the document stated. “Listing on a major stock exchange will give us access to a larger pool of investors, enhance our profile, and provide superior returns to our investors,” CEO Nonso Okpala said in June.

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