Related parties sell 2.8 million shares in VFD Group

Related parties in investment company VFD Group offloaded 2.8 million shares on 11 June, according to regulatory filings at the Nigerian Exchange Limited (NGX).

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Processus Capital Limited, a related party to one of the subsidiaries, sold 2 million shares at a unit price of N16.14 in a transaction worth N32.3 million.

On the same date, Expoze International, a related party to an undisclosed former director, sold 780,526 shares at N16.11 per share. The deal was valued N12.6 million.

A number of related party transactions in VFD Group shares as contained in regulatory filings earlier this month showed a trend of increasing reduction of stakes through share sales.

Processus Capital, on 28 May, divested 868,710 shares at a unit price of N16. That translated to a transaction worth N13.9 million.

Also on the same date, Anchoria Investment & Securities Limited, a subsidiary of the group, sold 1,980 shares at N15 per share, a deal worth N29,700.

Processus Capital offloaded 316,235 shares of N16 each, translating to N5.1 million on 29 May. On 30 May, Processus Capital sold 1.1 million shares at a unit cost of N17. The transaction was valued at N18.4 million. The same day, Anchoria Investment & Securities Limited divested 1 million shares at N19 million per unit. The deal was worth N19 million.

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Two related party transactions involving share purchase were conducted during the period. Anchoria Investment & Securities Limited acquired 1 million shares at N16.81 per unit on 29 May, a transaction valued at N16.8 million.

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On 2 June, the company purchased 2 million shares at N18 per unit, translating to N36 million.

VFD Group, which went public on 6 October 2023 and was listed on the main board of the NGX, has operations in microfinance, fund management, issuing house services, stock brokerage, real estate, among others.

Net profit for the quarter to March climbed to N3.5 billion from N2.6 billion a year earlier. Total assets grew by 8.4 per cent to N320.6 billion, compared to December 2024.