The Nigerian Infrastructure Development Fund with its Thursday listing, increased the Nigerian Exchange Limited’s market capitalization by N92.55 billion.
According to The Punch, an NGX presentation entitled “Facts Behind the Listing” and a closing-gong ceremony were held to celebrate the listing.
NIDF is the country of Nigeria’s first and only infrastructure debt fund. The Chapel Hill Denham is in charge of running it. The NIDF is a N200 billion public infrastructure investment fund, according to the NGX.
The fund’s chairman, Phil Southwell, stated on the NGX that since the fund’s mid-2017 debut, it has produced returns of 155%.
“We have been lucky enough to not have any NPLs, which offer investors some attractive risk returns. The NIDF, in my opinion, is the first of several investment trusts to be listed on the NGX.”
“I am excited to be able to say the same about the NGX as I can about the UK market, where 103 of the 350 equities on the FTSE 350 are investment trusts.”
The Chief Executive Officer of NGX, Mr. Temi Popoola, expressed excitement about the listing by adding, “We are really glad that as you have in many exchanges globally, our own exchange is able to offer this.”
The listing, according to Popoola, is in line with NGX’s aim to support financial market instruments that promote sustainable wealth generation and investments.
According to the Chief Executive Officer of Chapel Hill Denham, Mr. Bolaji Balogun, the NIDF has been Nigeria’s best-performing fund for the past five years and has significantly improved societal and economic outcomes.
The market capitalization of the NGX was N36.526 trillion at the conclusion of trade on Thursday.
The NIDF is exclusively focused on domestic investments in a few areas of the Nigerian economy, such as power, agriculture, and highways.
