The Nigerian Stock Exchange has disclosed that it has helped corporates and government raise capital to the tune of N968 billion, ranging from new and supplementary bond listings to Rights Issues, private placements and Exchange Traded Funds (ETFs), during this period of remote trading,
Since the activation of its Business Continuity Plan, which saw the transition to remote trading and working from home on 24 March 2020, the NSE has attracted several new listings to the market, the most recent being LAPO Microfinance Bank’s N6.2 billion bond on Monday, 29 June 2020.
This listing came closely on the heels of the listing of Dangote Cement’s N100 billion bond on Friday, 26 June 2020, which is the largest corporate bond issued in the Nigerian debt capital market.
Others are 900,000 units of the NewGold ETF valued at N7 billion; UACN Property Development Plc’s N16 billion Rights Issue; FBNQuest Merchant Bank’s Series-1 N5bn bond; Flour Mills’ N12.5bn and N7.5bn bonds; Primero BRT Securitisation SPV Plc bond worth N16.1bn bond; Golden Guinea Breweries Plc N1.2 billion private placement; and several government bonds worth over N797 billion.
