NSE Lists 2.261bn VFD Group Shares Of Abbey Bank

NSE Lists 2.261bn VFD Group Shares Of Abbey Bank

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Post Views: 228 The Nigerian Stock Exchange (NSE), on Thursday, listed additional 2,261,538,462 ordinary shares of Abbey Mortgage Bank Plc to the dail...

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The Nigerian Stock Exchange (NSE), on Thursday, listed additional 2,261,538,462 ordinary shares of Abbey Mortgage Bank Plc to the daily official list at N1.05 per share, adding N2.374bn to the market capitalization.
The shares, according to a notice by Godstime Iwenekhai, Head, Listings Regulation Department at the NSE, were offered by way of placement to VFD Group Plc.
This gives VFD Group, a financial services-focused proprietary investment company, a 35% equity stake of Abbey Bank’s new 6,461,538,462 ordinary shares of 50 kobo each.
The group developed a business model that allows it operate in the financial industry through a portfolio comprising, Financial Advisory, Asset Management, Currency, Real Estate, Debt Services, and Private Funds Management Services, taking deposits and providing loans at very competitive rates.
VFD was incorporated on July 7, 2009, and commenced operations on January 1, 2011.

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