VFD Group Plc has sold part of its stake in Abbey Mortgage Bank, offloading shares worth ₦2.72 billion after the lender’s stock recorded a rally of more than 190% this year.

According to a disclosure filed with the Nigerian Exchange (NGX), the transaction took place on September 17, 2025, in Lagos. VFD sold 400.8 million ordinary shares at an average price of ₦6.80 per share.

Prior to the sale, VFD held 3.84 billion shares, representing a 37.77% stake in Abbey Mortgage Bank. Following the divestment, its holding has reduced to 3.43 billion shares, or 33.84%, though the company remains the single largest shareholder in the bank.

Abbey Mortgage Bank’s stock has been one of the year’s top performers on the NGX, appreciating by 192.05% year-to-date. Market watchers say the surge may have influenced VFD’s decision to trim its position, locking in gains while retaining a controlling interest.