Lagos, March 30, 2023 – Mr Olakunle Alake, the Group Chief Executive Officer of Dangote Industries Limited, on Wednesday expressed delight at the completion of the listing of the firm’s N300 billion series 1 and 2 Bonds on Nigerian Exchange Limited.
He also commended the depth of the Nigerian capital market.
Alake expressed the delight at the Closing Gong Ceremony commemorating the listing of the bond held at the Exchange on Wednesday, 29 March 2023.
Alake, who was represented by the Group Chief Finance Officer, Mallam Mustapha Ibrahim, said: “we are pleased to have showcased the depth and liquidity of the domestic capital market, whilst we reflect the strong quality of the issuer, despite the current global market realities.”
According to Alake, the depth of the market reflected in the successful issuance of the bond, which was the largest aggregate local currency bond issued in the capital market so far this year.
He said that the listing of the bond recorded participation from a wide range of investors including domestic pension funds, asset managers and insurance companies which further demonstrated investors’ confidence in Nigeria’s credit reality.
Jude Chiemeka, the Divisional Head, Capital Markets in NGX, applauded the listing of the bond which provides corporates the opportunity to raise capital.
“The listing of this transaction on our platform not only allows for a more liquid capital market, but it also shows our capacity to facilitate large transactions towards enabling a more robust ecosystem.”
He said that NGX would remain committed to fostering similar transactions through “our digital gateway such as this and a confident market where corporates and investors can achieve their respective objectives”. (GBN)
