NGX Group records N670bn bonds YTD

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The Nigerian Exchange Group (NGX Group) Plc, yesterday, said it recorded over N670 billion bonds in FGN and Corporate bonds listed on its platform year-to-date (YTD).

This comes after it had announced the launch of its new corporate brand identity and website following the demutualisation of the Nigerian Stock Exchange (NSE) and the resulting creation of the non-operating holding company NGX Group Plc and its subsidiaries.

The subsidiaries include Nigerian Exchange (NGX) Limited, the operating exchange; NGX Regulation (NGX RegCo) Limited, the independent regulatory arm of the Exchange; and NGX Real Estate (NGX RelCo) Limited, the real estate company.

Speaking during the digital closing gong ceremony to commemorate the corporate bond listing of BUA Cement Plc’s 115 billion bond on the exchange, the Divisional Head, Listings Business, NGX, Olumide Bolumole, said that earlier in the year, it witnessed the listing of Flour Mills’ N29.8 billion tranche A and tranche B bonds as well as the listing of transport services limited’s N12 billion 10- year Senior fixed rate infrastructural bonds. “Year-to-date, we have seen over N670 billion in FGN and corporate bonds listed on the NGX platform. This 115 billion 7-year Series 1 fixed rate Senior Unsecured bonds issue, marks the company’s debut offering was oversubscribed by 37 per cent to the tune of N137.82 billion and represents the largest amount raised by a corporate issuer in the history of Nigeria’s debt capital market.  The level of participation is a testament to the confidence placed to this reputable brand by investors and the entire market. We encourage BUA cement as well as other countries to utilize the NGX platform to provide the market with information, financial performance as well as strategic and operational data”, he said.

Meanwhile, the NGX new brand identity follows a monolithic brand architecture, which will facilitate the formation of any new subsidiary by leveraging existing brand equity. The identity is inspired by the arrows of the stock exchange ticker tape as well as monetary exchange between a buyer and seller. These arrows are stylised to form an ‘N’ and denote the act of collaboration.

Source: THE SUN

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