Lagos-based VFD Group Plc ramped up its interests in the Nigerian Exchange Group Plc (NGX Group) to 5.17 per cent, following a transaction this month enabling the investment company to cross the threshold needed to join the rank of elite owners of the financial institution widely called substantial shareholders.
“We have been formally notified by VFD Group Plc that its total shareholding in Nigerian Exchange Group Plc (NGX Group) stands at 5.17% of the issued share capital of NGX Group as at 16 February 2022,” the financial services group announced Wednesday in conformity to a rule that compels listed firms to make a formal disclosure once an investor’s stake reaches at least 5 per cent.
Efeturi Doghudje, head marketing and corporate communications at VFD Group, did not immediately respond to calls and a text message seeking comment.
The proprietary investment company holds 41 portfolio investments across disparate sectors from financial services and energy to health, real estate & hospitality.
With a seed capital of N2.5 million when it opened shop in 2009, its asset valuation now totals N107 billion.
NGX Group, which listed at N17.75 per share when it debuted in October, has yielded 37.5 per cent ever since, , touching its all-time peak last week at N26.50.
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