VFD Group PLC has shared its plans to take a leading position in the financial services industry following its switch from a Private Limited Company to a Public Limited Company.
The Group raised N2.8 billion in a private offering late last year, increasing its shareholder base from 50 to 130. This was followed by the change to a Public Limited Company. The Group will now be addressed as VFD Group PLC in all business operations and communications. In line with this development, the Group has appointed African Prudential Registrars PLC as its official registrar.
In a statement, the company’s Group Managing Director/CEO, Nonso shared his excitement and the long-term strategy of the Group.
“This is an exciting milestone for VFD Group PLC, our shareholders, board and staff across our subsidiaries
By converting, we are ensuring that our corporate identity reflects our long-term strategy”
The Group’s new status is a stable platform from which it can launch its proposed N5 billion corporate bond. Furthermore, VFD Global PLC plans to get listed on the NASD OTC by 2022.
Since its incorporation in 2011, VFD Group PLC has been creating value within Nigeria’s informal financial sector through innovative products and solutions that are accessible to the everyday Nigerian.
The Group comprises subsidiaries in Financial Management, Real Estate and Automotive industries.