In an extraordinary financial journey that has propelled it to a valuation of over $260 million in total assets, VFD Group, a Nigerian investment company, has officially made its debut on the Nigerian Exchange Limited (NGX). The company, which initially commenced operations in 2009 with a humble $3,250 in capital from a group of 35 visionary investors, celebrated its listing on the Main Board of the NGX, leaving behind its three-year stint at the Lagos-based over-the-counter securities exchange NASD OTC.

Unlike conventional investment banks that manage assets on behalf of others, VFD Group adopts a proprietary investment-focused approach, strategically targeting companies for direct market gain. This unique approach has propelled them to new heights in the financial realm.

A total of 190,027,365 shares, each priced at $0.32 per unit, were added to the NGX, translating to a market value of $59.98 million. The company’s extensive investment portfolio encompasses more than 40 companies, with some of them already listed on the NGX.

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VFD Group’s ascent in the financial world gained further momentum with its acquisition of a significant stake in the NGX Group, representing 5.2% of the bourse’s issued shares.

Listing on the standard exchange not only provides VFD Group with access to increased capital but also enhances its visibility among potential investors. The company has ambitious plans to raise $16.25 million through rights offerings as part of its larger $42.25 million equity and debt fundraising strategy to fortify its capital base.

At the Facts Behind the Listing ceremony held at the Nigerian Exchange building in Lagos, CEO Nonso Okpala shared his insights, stating, “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.”

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Echoing these sentiments, VFD Group Chair Olatunde Busari expressed 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.”

VFD Group’s investment portfolio extends to several Nigerian tech companies, including Minerva Tech, PiggyVest, ErrandPay, and VerifyMe. This momentous listing marks a significant milestone in the company’s journey towards further financial growth and market prominence in Nigeria’s dynamic tech and investment landscape.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard