VFD Group Targets N300.61bn in Total Assets by 2025, to Raise N12.5bn

Kayode Tokede

Amid a successful listing on the Nigerian Exchange Limited (NGX), the management of VFD Group Plc said it is projected N300.61billion in total assets by 2025 and N5.83billion dividend payout to shareholders in the same period.

The proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses to create innovative products and solutions accessible to the everyday Nigerian citizen and entrepreneur, also projected N53.54billion and N16.44billion profit before tax and gross earnings, respectively by 2025.

The company also announced plans to raise N12.5 billion via rights issue from the capital market.     

Engaging investing public and capital market communities at the facts behind the listing in Lagos recently, Group Managing Director/CEO of VFD Group, Nonso Okpala said the company over the years-maintained dividend payout policy and utilized the remaining generated profit on forward investment.  

He noted that the total assets of VFD Group comprises of total equity and debt.

According to him, “In 2020, on the count of total asset, we were at N81billion.  We were about N149 billion in 2022. We project that in three years’ time will be at about N300billion in total assets.”

Okpala noted that the management of VFD Group is delighted to be listed on NGX and seeks to raise almost immediately N12.5 billion via rights issue from investing public. 

Giving reasons why investors should invest in VFD Group, he said the group has maintained consistent dividend payout, level of adherence to governance, refinancing gain, and strategic divestments.

The company listed N45 billion in market capitalization on the main board of Nigerian Exchange Limited (NGX), to   further enhanced liquidity in the Nigerian capital market and providing opportunities for wealth creation.

The listing on NGX is a strategic move to increase VFD Group’s visibility, enhance its access to capital, and improve its liquidity, ultimately benefiting its valued investors and stakeholders.

Okpala expressed his excitement about the listing, saying, “This is a momentous occasion for VFD Group. 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.”

“We will continue to work toward our strategic goal of creating Africa’s first diverse business ecosystem. When compared to where we started, what we set out to achieve, and economic realities, the Group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet,” he added.

Chairman, Nigerian Exchange Group Plc , Dr Umaru Kwairanga, stated that “We must recognize the unwavering commitment of the Board and Management of VFD Group in making this listing a reality, as well as the pivotal roles played by all the professional parties involved in the transaction. Securing a listing on the NGX Main Board entails a steadfast commitment to elevated standards of disclosure and corporate governance. This significant listing heralds a fresh chapter for VFD Group plc to leverage NGX’s value-added services and capital market products to fulfill its strategic objectives.”

CEO, NGX, Temi Popoola, stated, “We extend a warm welcome to VFD Group as it joins our prestigious market. The decision to list on NGX not only promises to augment VFD Group’s liquidity but also strategically positions it to attract investments from the global arena. Additionally, this move is poised to elevate the organization’s market value whilst further advancing transparency and corporate accountability.

“Our marketplace is a highly reputable platform for raising capital and facilitating sustainable growth for national development. As the preferred listing platform in the region, we are dedicated to collaborating with companies at different growth stages to explore diverse capital market opportunities that align with their business goals.”