Home Business N200bn bond listing: Dangote Industries Celebrates NGX market depth
Business

N200bn bond listing: Dangote Industries Celebrates NGX market depth

Olakunle Alake, the group chief executive officer of Dangote Industries Limited, voiced satisfaction after the company’s N200 billion series 1 and 2 Bonds were successfully listed on the Nigerian Exchange Limited and praised the market’s depth.

On March 29, 2023, at the Exchange, during the Closing Gong Ceremony honoring the launching of the bond, this was said. “We are pleased to have showcased the depth and liquidity of the domestic capital market while we reflect the strong quality of the issuer, despite the current global market realities,” said Alake, who was represented by Mustapha Ibrahim, Group Chief Finance Officer.

Ibrahim claims that the successful issuance of the bond, which was the biggest aggregate local currency bond issued in the capital market thus far, within the year, demonstrated the depth of the market. He added that a variety of investors, including domestic pension funds, asset managers, and insurance firms, participated in the bond’s listing, further demonstrating investors’ confidence in Nigeria’s credit reality.

Speaking at the event, Jude Chiemeka, Divisional Head, Capital Markets, NGX, praised the listing of the bond for giving corporations the chance to generate money.

“This transaction’s listing on our platform not only enables a more liquid capital market, but it also demonstrates our ability to facilitate significant transactions in support of a more robust ecosystem.”

He added that NGX is still dedicated to encouraging deals like this one through our digital gateway and a secure market where corporations and investors can pursue their individual goals.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Brand TalkBusinessGlobal NewsLG Home CareTechy Brands

LG ELECTRONICS RECEIVES PRESTIGIOUS AWARD FOR REFRIGERATION EXCELLENCE

The management of Marketing Edge Magazine and organizers of the newly rebranded...

BusinessGlobal NewsLG Home AppliancesTechy Brands

LG OLED TV: Pioneering Excellence, Redefining the Future

LG Electronics, a global leader in consumer electronics and home entertainment, continues...

AI BrandsBusinessEntertainment

LG Electronics Wraps Up the Epic LG K-POP Grand Finale

The LG K-POP Grand Finale concluded with a flourish, igniting the stage...