FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc recently acted as Lead Financial Adviser & Issuing House on the Listing by Introduction of the entire issued and paid-up ordinary shares of Notore Chemical Industries Plc on the Main Board of the Nigerian Stock Exchange (NSE).
Notore Chemical Industries, one of the leading fertilizer and agro-allied companies in Africa, listed on the NSE 1,612,066,200 ordinary shares with a N50kobo par value each at a price of N65.50 per share in order to promote better liquidity of its ordinary shares in the secondary market, as well as have a platform to access long term capital from a wide range of local and international investors when required. FBNQuest Securities acted as the Lead Stockbroker on the listing, alongside other Advisers.
The transaction adds to FBNQuest Merchant Bank’s impressive portfolio of clients it has supported, and once again highlights its capabilities in the successful execution of sizeable capital market and commercial debt transactions. Mr. Kayode Akinkugbe, Managing Director of FBNQuest Merchant Bank said: “We are proud of the instrumental role FBNQuest Merchant Bank played in this transaction, and appreciate the trust Notore placed in us to assist them. Our clients remain our priority, and we strongly believe their success is our success.
“As a leading institution for financing, investing, trading, and advisory, we understand the role we must play in supporting our clients across the private or public sector and continue to build our team of industry experts across oil & gas, power, infrastructure, services, diversified industries, and other emerging sectors of the economy to enable us support their goals and objectives.’
In the last 36 months, the Bank has raised in excess of N200 billion for clients through commercial papers and bonds. Most recently, this includes UACN Property Development Company’s N10.66billion Series 29-31 Commercial Papers and a ₦4.355billion Series 1 Senior Guaranteed Fixed Rate Bond; Mixta Nigeria’s N9.83 Billion Series 5 Commercial Paper, and Nigerian Breweries Plc’s N11.08billion series 13-15 Commercial Papers.
Also on the list of successful transactions are Municipality Waste Management Contractors’ N20.3billion Fixed Rate Medium Term Note; the Divestment of First Bank of Nigeria’s 100% equity interest in FBN Mortgages; and Dufil Prima Foods’ 5 year ₦10 billion Series 1 Fixed Rate Bond. In addition to these, the Bank has raised about US$500 million in equity from the public and private capital markets and also closed 6 M&A deals over the past three years.
A testament to the quality and consistency of execution is evident in the several international awards it has received, having won the prestigious African Banker Magazine’s Deal of the Year (Debt) award for the FGN’s $300m Diaspora Bond; The Banker Magazine’s Deal of the Year Africa in Islamic Finance for the FGN’s ₦100b 7-year Inaugural Sovereign Sukuk; as well as EMEA Finance Magazine’s Best M&A Deal Africa (Mid-Market) for the divestment of AMCON’s 100% Shareholding in Keystone Bank, Most Innovative Bond for the FGN’s $300m Diaspora Bond, and Best Social Development Bond for Mixta Real Estate’s ₦4.5b Senior Guaranteed Fixed Rate Bonds in 2018, to name a few.
As a member of the FBN Holdings group, FBNQuest Merchant Bank is positioned to provide complementary services to the Group’s expansive client base of retail, high net-worth and institutional customers, while also offering a broader choice in financing, investments and transaction execution. The group continues to ensure the delivery of innovative initiatives to enhance its positioning and deliver shareholder value.