Dangote Industries has completed its listing of the firm’s N200bn series 1 and 2 Bonds on Nigerian Exchange Limited.
The Chief Executive Officer, of Dangote Industries Ltd, Mr Olakunle Alake, addressing the closing-gong ceremony to honour the listing of the bond conducted at the Exchange on Wednesday expressed joy following the listing.
Alake, who was represented by the Group’s Chief Financial Officer, Mustapha Ibrahim, stated, “We are glad to have highlighted the depth and liquidity of the local capital market while we reflect the solid quality of the issuer, despite the current global market realities.”
Ibrahim also observed that the listing of the bond witnessed involvement from a broad variety of investors including local pension funds, asset managers and insurance organizations and further indicates investors’ trust in Nigeria’s credit
The listing is the biggest aggregate local currency bond issued in the capital market so far, in the year.
The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka, addressing the ceremony, welcomed the listing of the bond which offers corporates the ability to obtain funds.
“The listing of this transaction on our platform not only provides for a more liquid capital market, but it also illustrates our potential to enable major transactions towards creating a more robust ecosystem.”
He also added that NGX is dedicated to supporting comparable transactions via our digital gateways such as this and a confident market where corporates and investors may achieve their respective goals.
