NGX Lists $4bn FGN Eurobonds, N171.17bn Saving Bonds, N720.04bn Securities in January

NGX Lists $4bn FGN Eurobonds, N171.17bn Saving Bonds, N720.04bn Securities in January

Kayode Tokede
The Nigerian Exchange Limited (NGX) listed Federal Government of Nigeria (FGN) $4 billion FGN Eurobonds, N171.17 billion FGN Savings Bonds and N720.04billion securities on its platform in January 2022.

The listed securities on the bourse in January are BUA Foods’ N720 billion listing by introduction of 18,000,000,000 ordinary shares of N0.50 each at N40.00 per share on the main board and Nigerian Breweries Plc’s listing additional 78,929,849 ordinary shares of 50 Kobo each emanating from the company’s 2021 scrip dividend option.

The new stocks of Nigerian Breweries were issued to shareholders as part of their dividend payment.
According to the disclosure from the NGX, Nigerian Breweries listed a total of 78,929,849 ordinary shares of 50 kobo on the platform, increasing its total issued and fully paid-up equities to 8,075,831,900 ordinary shares from 7,996,902,051 ordinary shares.

“Additional 78,929,849 ordinary shares of 50 kobo each of Nigerian Breweries Plc were today, Monday, January 24, 2022, listed on the daily official list of the Nigerian Exchange Limited. The additional shares listed on NGX arose from Nigerian Breweries scrip dividend election scheme.

“With this listing of the additional 78,929,849 ordinary shares, the total issued and fully paid-up shares of Nigerian Breweries Plc has now increased from 7,996,902,051 to 8,075,831,900 ordinary shares of 50 kobo each, ”the NGX stated in a statement.

According to the NGX, the Eurobonds were issued in three tranches as follows: 6.125% FGN SEP 2028 worth $1,250,000,000.00; 7.375% FGN SEP 2033 worth $1,500,000.00; and 8.25% FGN SEP 2051 worth $1,250,000,000.00.

The NGX explained that it continued to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs).
The former President, Association of Stockbroking Houses of Nigeria (ASHON), Mr. Emeka Madubuike had while commenting said the intensive listing of federal government bonds implies that the capital market favours the economy.

According to him: “The stock market has witnessed improvement over the years and it has favoured the nation’s economy. This has impacted on the government listings its bonds on the Exchange. For so long stakeholders have been clamouring on government utilizing the capital market as long-term source for funds. Government is always the largest spender and when the government starts raising money through the capital market, of course, it brings about capital formation.”

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