Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
british airways
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Business News

TAK Group raises N15 billion bonds, records 113% oversubscription of first bond issue

TAK Agro Plc has raised N15 billion senior secured bonds issue for the purpose of transporting fertilizer and food grains across Nigeria.

Published

on

Agric firm raises N15 billion bonds, records 113% oversubscription of first bond issue

TAK Agro Plc, an agro-allied company has raised the sum of N15 billion senior secured bonds for the purpose of transporting fertilizer and food grains across Nigeria.

The bonds issue is the first in the agricultural value chain market and was raised with the help of Planet Capital, an investment-banking boutique registered with the Securities and Exchange Commission (SEC)

Why this matters

According to the Managing Director of the Group, Mr Chuma Henry Maduekwe, the company is engaged in the movement of fertilizer raw materials, such as imported phosphate and potash to various fertilizer blending plants under the Presidential Fertiliser Initiative (PFI). The company makes an estimation of 34,000 truck trips of fertilizer in six months.

Agric firm raises N15 billion bonds, records 113% oversubscription of first bond issue

However, the company has no truck of its own and relies on third-party transporters to meet its requirement, hence the need for bonds raise to boost its logistics arm.

What we are building is a Pan-African agriculture platform. However, during the process of delivering fertilizers to working with a lot of agric related companies to enhance crop yield, it was clear that we needed to control our logistics.

“Prior to now, we listed third party logistics companies to support our operations but with what we are trying to do, it is clear to us that there is a need for us to control that end of the chain. We are coming out with the first bond to acquire the first 250 trucks. In the first instance, from our calculation, we required 1000 trucks for our immediate operations. As a first step, we are coming to the market to acquire the first 250 trucks and we will add to that in the subsequent years,” he said.

[READ MORE: Interswitch records successful sale of first bond issue]

Sigma Pensions

Chairman, TAK Agro Plc, Mr Thomas Etuh could not hide his excitement about the bond raise. Giving an overview of the company, he noted that the company began to trade commodities like salt before moving into agro-allied products like fertilizers.

TAK Group wants to build a Pan-African integrated agric solution. It started by trading in salts, fertilizers and cotton. Today, we are the largest producer of NPK fertilizer in the country with an installed capacity of 3 million MT and demand in the country is 4 million. All these cannot be achieved because of lack of logistics. we all know the state of the roads and situation of the railways.

“In six months, the group moves raw materials of fertilizers to various blending points and requires 34,000 truck trips in 6 months. This means we move 1 million metric tonnes of raw materials. If we go to our installed capacity, we are talking about 100,000 truck trips a year. As the MD said, we are starting with 250, our requirement is 2,000,” Etuk said.

Agric firm raises N15 billion bonds, records 113% oversubscription of first bond issue

What you should know

Etuk said that the bonds were oversubscribed by 113%. He noted that the fertilizer company would soon launch its Initial Public Offering (IPO) by the second quarter of next year. In addition, the Chairman boasted of some of the group’s achievements which include the acquisition of silos across the country in Abuja, Kaduna, Jigawa, Kwara and Kebbi with 2061000 metric tonnes capacity to store grains. He hinted at another bond raise of N50 billion which is soon to come.

Stanbic 728 x 90

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Billionaire Watch

Here is the exciting 2021 list of the richest football clubs in the world  

Here’s Forbes 2021 list of the most valuable clubs in the world. 

Published

on

Here Is The Exciting 2021 List Of The Richest Football Clubs In The World 

Billionaires are fond of investing in sports franchises. This is because there is a lot of money in it and the income stream is pretty consistent. Authoritative wealth watch magazine, Forbes yesterday released its official list of the most valuable clubs in the world.

It also gave a summary of the business side of the football world which we found quite interesting.

Nairametrics did a thorough review of the list and highlighted the parts which we believe will resonate well with our readers. Let’s get to it!

Top 10 richest clubs in 2021 by value 


Tottenham (2.3bn)

Tottenham hotspur comes in at the 10th position with a valuation of $2.3bn. The English club is owned by Joseph Lewis and Daniel Levy. They generated $494m last year.


PSG (2.5bn)

Paris St Germaine comes in at 9th position with a valuation of $2.5bn. The French league 1 giants generated more money than arsenal last year. They generated $599m. PSG is owned by an investment group, Qatar Sports Investments.


Arsenal (2.8bn) 

Arsenal football club, another London side club comes in at 8th position with a valuation of $2.8bn. The club is solely owned by Stan Kroenke, an American Businessman who invests in sports and media. Arsenal generated $430m in 2020 making it the 8th most valuable club.


Chelsea (3.2bn)

Chelsea football club comes in 7th on the list with a valuation of $3.2bn. The London side club has retained its longstanding owner Roman Abramovich, a Russian Oligarch. Chelsea generated $520m last year.


Manchester City (4bn) 

Manchester City, an English club with a long history of billionaire owners comes in at 6th position. The very successful English club generated total revenue of $609m last year. The club is valued at $4bn and is owned by Sheikh Mansour bin Zayed Al Nahyan.

Hotflex
Sigma Pensions

Liverpool (4.1bn) 

Liverpool comes in 5th at a $4.1bn valuation. The English club is the second wealthiest in England with a generated revenue of $619m. The club is owned by a joint partnership between Billionaire, John Henry and Tom Werner.


Manchester United (4.2bn)

Manchester United is the wealthiest English club on the list. The club is valued at $4.2bn, taking up the 4th position on the list. The club has been owned by a Jewish business family, the Glaziers for years. They are the largest shareholders and practically own the club. They generated $643m last year.


Bayern Munchen (4.215bn)

Bayern Munchen comes in at the third position with a value of $4.215bn. The German giants have bossed the German league for years. They generated $703m last year, coming in at the 3rd position.


Real Madrid (4.75bn)

Real Madrid Fc comes in at the second position. The football club which had previously dominated this list was edged out by bitter rivals, Barcelona. Real Madrid is valued at $4.75bn and the club is also owned by the club members. Real Madrid generated $729m, the same amount of revenue as Barcelona last year.


FC Barcelona (4.76bn)

Fc Barcelona is the most valuable football club in 2021 with a market value of $4.7bn. The club sits gallantly in the first position.

Stanbic 728 x 90

The Spanish giants generated a massive $792m in revenue last year and succeeded in holding on to their key player Lionel Messi. They also edged out Real Madrid and Man Utd who have dominated this list for 16 years. FC Barcelona is owned by the club supporters. It has no major shareholder or billionaire financier. The club has over 160,000 members forming its governing body.


 

What you should know 

  • 6 of the 10 richest clubs in the world are owned by billionaires; the rest are owned by club members and an investment group.
  • In the last 16 years, the world’s richest football clubs list has been topped by only two clubs – Real Madrid and Manchester United.
  • Football clubs generate revenues through advertisements, sponsorship deals, jersey deals and ticket sales. These are the 4 major revenue streams of a football club.
  • The top 3 teams on the list – Fc Barcelona, Real Madrid and Bayern Munchen generated a combined revenue of $2.3bn in 2020.

Continue Reading

Corporate Press Releases

UBA Business Series to equip SMEs with Performance Management Strategies for Organisational Growth

UBA has been assisting with essential tips to help businesses ensure that they stay afloat and remain thriving.

Published

on

As part of its commitment to support the growth and sustainability of Micro, Small and Medium-scale Enterprises (MSME) in the continent, Pan African financial Institution, United Bank for Africa (UBA) Plc, is set to organise the next edition of its UBA Business Series.

The UBA Business Series which is a monthly event, is an MSME Workshop as well as a capacity-building initiative of the bank where business leaders and professionals share well-researched insights on best practices for running successful businesses, especially in the face of the difficult operating environment that dominates the African business landscape.

Through this initiative, UBA has been assisting with essential tips to help businesses re-examine their models and strategies and ensure that they stay afloat and remain thriving.

The topic for the next edition of the series is ‘ Managing Performance for Business Growth,’ and it will be held on Wednesday, April 14, 2021, via Microsoft Teams. At this session, the Managing Director, Secure ID Limited, Mrs Kofo Akinkugbe, will be sharing useful tips and insights on the key strategies of performance management to boost business growth.

Akinkugbe is the founder of SecureID Nigeria, a MasterCard, VISA and Verve certified Smartcard Personalization Bureau and Digital Technology company. She currently serves as the Managing Director/CEO, Secure Card Manufacturing, – a Smartcard manufacturing plant producing high-security identity cards and documents for the Banking, Telecoms and Public sectors across Africa and beyond.

The capacity-building event is a virtual session which is open to all – including business owners and leaders – and will be held on Wednesday, April 14th, 2021, at 2pm WAT. Interested participants can register via http://bit.ly/UBASMEWorkshopMarch2021

UBA’s Head, SME Banking, Sampson Aneke said of Akinkugbe, ‘with her vast experience garnered over the years from various sectors, she will help business owners understand how performance management strategies can be effectively implemented to ensure business growth’.

He emphasised UBA’s commitment and deep passion for small businesses, which according to him, remains the engine of any developing economy adding, “We know small businesses are the backbone of the economy in every country. In many climes, businesses with fewer than 100 employees account for 98.2% of all businesses. This no doubt captures the importance of SMEs to a thriving economy which is why UBA is committed to seeing them flourish.”

Hotflex
Sigma Pensions

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.