LAPO Microfinance Bank’s N6.2 billion Bond has been listed on the Nigerian Stock Exchange (NSE).
The NSE has through the listing and several others done during the Covid-19 pandemic reassured the investing public of its commitment to provide a platform for issuers to raise capital even in the toughest of times.
The Exchange has helped corporates and government raise capital and facilitate secondary market trading activities to the tune of over N1.8 trillion, ranging from new and supplementary bond listings to Rights Issues, private placements and even Exchange Traded Funds (ETFs).
These funds have been utilized to pay down financial obligations, support working capital, improve infrastructure development, and facilitate business expansion.
Chief Executive Officer, NSE, Oscar Onyema, stated, “The NSE is resolute in its commitment to be a trusted business partner to all our Issuers in accessing right-sized capital and achieving their strategic business objectives. In our efforts to fulfil this mandate, we have achieved all-round increased efficiency in terms of competitive pricing structures, increased turnaround time, enhanced customer experience and improved time to market”.
Since March 24, 2020, the NSE has successfully listed: LAPO Microfinance Bank’s N6.2 Billion Bond; 900,000 units of the NewGold ETF valued at N7 Billion; Dangote Cement Plc’s N100 Billion Bond, and UACN Property Development Plc’s N16 Billion Rights Issue.
Others are 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’s N1.2 Billion Private Placement; and several Government Bonds worth over N797 Billion.
