VFD Group Launches N50.67bn Rights Issue for Strategic Expansion

VFD Group Plc launches a N50.67 billion rights issue to enhance its capital base for expansion and investment diversification. The company's strategic growth plan aims to strengthen its financial position, facilitate international expansion, and increase investments in key economic sectors.

The rights issue, priced at N10 per share, offers existing shareholders the opportunity to acquire two new shares for every three held. The proceeds from the offering will be utilized to bolster the company's balance sheet, support geographical expansion into the UK and Southern Africa, and enhance investments in its subsidiaries.

The move marks a significant milestone in VFD Group's growth strategy and underscores its commitment to sustainable development.