VFD Group Plc Makes Historic Entry on NGX Main Board, Adding N45 Billion to Market Capitalisation

VFD Group Plc has been officially listed on the Main Board of the Nigerian Exchange Limited (NGX).

The listing ceremony on Friday, October 6, marked a significant milestone in the company’s journey and had investors buzzing with excitement.

Shortly after the listing, investors engaged in 8 transactions, exchanging 116,207 units of VFD Group Plc shares worth N31.294 million.

The decision to move from the NASD Securities Exchange to the NGX was a strategic one, aimed at increasing VFD Group’s visibility, enhancing access to capital, and improving liquidity.

As a result, NGX’s market capitalisation has swelled by over N45 billion, further strengthening the Nigerian capital market.

Olatunde Busari, Chairman of VFD Group, expressed his enthusiasm, saying, “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.”

Nonso Okpala, Group Managing Director/CEO of VFD Group Plc, echoed this sentiment, stating, “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. We are excited about this new chapter and the opportunities it brings to further strengthen our market position.”

Umaru Kwairanga, Chairman of Nigerian Exchange Group Plc, commended VFD Group’s commitment to elevated standards of disclosure and corporate governance.

Temi Popoola, CEO of NGX, also welcomed VFD Group, highlighting the move’s potential to attract global investments and elevate transparency in the market.

The listing of VFD Group Plc represents a significant stride in the company’s quest to create a diverse business ecosystem and contribute to Africa’s growth.

Investors and stakeholders eagerly anticipate the opportunities this strategic move will unlock.