Dangote Industries finalises N200bn bond listing

Marcus Amudipe
Marcus Amudipe



Dangote Industries has finished listing its N200 billion series 1 and 2 bonds on the Nigerian Exchange Limited.

According to The PUNCH, this was disclosed by the Chief Executive Officer, Dangote Industries Limited, Mr Olakunle Alake, during the closing-gong ceremony to commemorate the listing of the bond held at the Exchange on Wednesday.

Alake, who was represented by the Group’s Chief Finance Officer, 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.”

Further demonstrating investors’ trust in Nigeria’s credit reality, Ibrahim said the listing of the bond received involvement from a wide variety of investors, including domestic pension funds, asset managers, and insurance firms.

This listing is the year’s largest locally denominated bond offering on the capital market.

At the ceremony, NGX’s Head of Capital Markets Division Jude Chiemeka praised the listing of the bond for allowing corporations to more easily access financial markets.

“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.

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