N318.52 Billion Securities Listed On Nigerian Exchange By FG, Lagos,Companies

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The Nigerian Exchange (NGX) recorded a new listing of about N318.52 billion in the first quarter. The new list includes equities, fixed income, mutual funds, and derivatives.

The X-Compliance Report of the NGX, which tracks activities at the stock market, showed that the Federal Government listed N11.23 billion in new bonds under its Federal Government of Nigeria Savings Bonds, with maturities ranging between 2024 and 2026.

The Lagos State Government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13 percent, Fixed Rate Bonds due 2031 under the state’s N500 billion debt issuance program.

In the corporate bond segment, several companies listed new securities including the N112.42 billion senior unsecured bond by Dangote Industries Funding Plc and N31.36 billion Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance program.

Also, FTN Cocoa Processors Plc and Neimeth International Pharmaceuticals Plc undertook supplementary listings of N850 million and N3.68 billion worth of shares respectively. Africa Plus Partners Nigeria Limited also listed its mutual fund, Africa Infra Plus 1, the first Carbon Plus naira-denominated fund to be listed on the Exchange, at a market value of N21.65 billion.

NGX also continued to drive participation in its derivatives market with the listing of the NGX Pension index Futures Contract and NGX30 Index Futures Contract.

The Chief Executive Officer of  Nigerian Exchange (NGX), Mr. Temi Popoola had said the Exchange had a renewed focus on listings in 2023.

“We will be using listings as a vehicle for meeting strategic aspirations as the new dispensation comes in through increased advocacy and engagements,” Popoola said

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