VFD Group has notified the Nigerian Exchange Limited (NGX) and the investing public that the Board approved the Company’s full divestment of 343,546,646 ordinary shares of its holdings in Atiat Limited.
VFD Group is a leading proprietary investment company. The divestment of its 57.26percent stake in Atiat Limited, a key subsidiary, was made in a deal valued at over N7 billion.
The Group said this decision follows a written resolution of its Board of Directors pursuant to Section 289(8) of the Companies and Allied Matters Act 2020, dated Tuesday, February 4, 2025.
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The Group said the transaction marks an important milestone for both companies, underscoring VFD Group’s commitment to delivering superior
value to its stakeholders while positioning Atiat for an exciting new chapter of growth and expansion.
They also noted that the decision to divest aligns with VFD Group’s strategic framework, which emphasises optimising its portfolio by directing resources toward high-growth opportunities.
“The N7 billion transaction reflects the strong value created under VFD Group’s stewardship and its ability to execute disciplined investment decisions that maximize shareholder returns,” VFD Group said.
Speaking on the divestment, Nonso Okpala, Group Managing Director of VFD Group, stated: “This transaction is a testament to the quality of our investment decisions and our ability to unlock value for our investors. The divestment of our stake in Atiat Limited is a strategic move that allows us to redeploy capital into higher-growth opportunities while maintaining our focus on delivering exceptional returns for institutional and retail investors.”
Over the years, Atiat has evolved into a formidable player in Nigeria’s financial services sector.
Under VFD Group’s leadership, the company expanded its market presence, achieved significant financial milestones, and built a solid governance framework that positions it for continued success. The divestment is a natural next step in Atiat’s growth journey, allowing it to chart an independent course while capitalizing on new opportunities in the financial ecosystem.
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Atiat Limited remains a strong, financially sound, and forward-focused institution. Over the last four years, the company has recorded exponential growth in revenue, profitability, and shareholder value, with year-on-year cumulated average growth in Gross Earnings rising from N2 billion in 2021 to N9.7 billion in 2024, Profit before tax (PBT) growing from a loss of
N30.4 million in 2021 to N1.4 billion in 2024 (unaudited). Shareholders’ funds have also surged from N327 million in 2021 to N8.2 billion in 2024.
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