VFD Group Holds 5% Stake in NGX Group Plc

The management of the Nigerian Exchange Group Plc (NGX Group) has notified the investing public that VFD Group Plc, an investment company, total stake in the company stood at 5.17% of all the issued share capital.

NGX Group Plc Background

NGX Group, a company created following the demutualisation of the Nigerian Stock Exchange, was listed on the Nigerian Exchange Limited (NGX) Mainboard in October 2021.

The company listed 1,964,115,918 ordinary shares of 50kobo each at N16.15 a unit. Meaning, the price of NGXGroup stock has risen by 51 percent when compared to N24.4 per share it closed today.

VFD Group Plc Total Shares in NGX Group

Going by the total issued shares, VFD Group holds 101.545 million shares or 5.17% valued at N2.478 billion as at February 23, 2022.

The statement signed by Mojisola Adeola, Company Secretary and Compliance Officer for NGXGroup, reads, “Further to the provisions of Rule 17.13 of the Rulebook of Nigerian Exchange Limited (NGX) (Issuers’ Rules), we have been formally notified by VFD Group Plc that its total shareholding in Nigerian Exchange Group Plc (NGX Group) stands at 5.17% of the issued share capital of NGX Group as at 16 February 2022. We write to formally notify the Market of this.”