Investment company VFD Group will tap the capital market to raise fresh cash through a blend of equity and debt totalling N32.5 billion after shareholders greenlighted the move, the company said in a statement Tuesday.
The Lagos-based firm, with tentacles in sectors as varied as banking, real estate, energy, hospitality and tech, plans to source N12.5 billion from stockholders via a rights issue.
The remaining sum of N20 billion will come from a debt issuance still in the works. No mention has been made as to whether raising that will take the route of bond or commercial paper.
