Dangote Industries Lists N200bn Bonds On NGX Business
At the Closing Gong Ceremony commemorating the listing of the bond held at the Exchange in Lagos, the Group chief executive officer, Dangote Industries Limited, Mr Olakunle Alake expressed delight upon the completion of the listing of the firm’s bonds on the Exchange.
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 Ibrahim, 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, within the year.
He further noted that the listing of the bond recorded participation from a wide range of investors including domestic pension funds, asset managers and insurance companies and further demonstrates investors’ confidence in Nigeria’s credit reality.
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