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NOVA Merchant Bank’s debut N10bn bond oversubscribed by 300%

This is one of the major corporate bond issuances by a Merchant Bank in Nigeria’s capital market.

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NOVA Merchant Bank, a leading merchant bank in Nigeria, has announced the successful issuance of its N10 billion 7-Year Subordinated Unsecured Bond under its N50 billion debt issuance programme. The transaction represents NOVA’s first bond issuance in the debt market and was oversubscribed by 300 percent.

The offer which opened on June 30, 2020, following relevant approval from the Securities & Exchange Commission (SEC) and the Central Bank of Nigeria (CBN), closed on July 8, 2020, with a bond yield guidance of 12 percent to 12.50 percent.

In spite of volatility in markets due to the COVID-19 pandemic, the transaction was highly demanded with a diversified order book made up of discerning investors including asset managers, insurance companies, domestic pension funds, non-financial institution corporates, high networth individuals as well as international fund managers.

The lead issuing house, United Capital Plc, described the transaction as unprecedented while the joint issuing houses Stanbic IBTC Capital, UCML Capital Limited, Emerging Africa and Greenwich Trust Limited jointly stated it was a remarkable deal.

This is one of the major corporate bond issuances by a Merchant Bank in Nigeria’s capital market, thus reflecting NOVA’s strong credit quality as well as the resilience of its business model despite current global challenges.

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The Chairman, NOVA Merchant Bank, Mr. Phillips Oduoza expressed excitement over the success of the company’s debut issue as it places the Bank on a firm footing to achieve its short-term and long-term goals.

He said, “The oversubscription of this bond offer is yet another significant milestone in the history of the Bank and represents a vote of confidence by the investment community in the resilience of our business model. We will continue to march forward with confidence in the realisation of our strategic objectives.”

Oduoza added that the bank is well-positioned to fulfil its promise to focus on providing long-term funding which is critical to the economic development of the country.

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The Bank’s Managing Director, Anya Duroha said, “The resounding success of this bond offer helps us achieve our goal to re-establish merchant banking as a key economic driver by providing long-term funds. It will also help us better meet the financing needs of our clients”.

NOVA Merchant Bank Limited is a licensed, investment-grade rated merchant bank in Nigeria. It offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Securities Trading, Wealth Management, Trade Services, Deposit Taking, Lending Activities, Transaction Banking, Cash Management and Digital Banking.


 

EDITOR’S NOTE: This is a sponsored content.

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NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Trading club in Nigeria for US stock investors

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

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Trading club in Nigeria for US stock investors

30%Club, a trading club created for modern-day investors, wants every Millennial and Gen Z to invest in US Stocks. The club aims to be the go-to platform for educational and advisory resources for stocks and crypto investing. By breaking the knowledge barrier, we serve as a learning bridge for anyone looking to trade these markets. The US Stock market is the largest in the world and so every shrewd investor wants a slice of it. Now anyone can invest on any of the three regulated US Investment apps in Nigeria.

Thanks to the recent wave of fintech startups innovating brokerage services, tech-savvy millennials now have seamless and affordable access to the US stock markets. The timely introduction of Fractional Shares means folks can invest just $10 in their favourite companies effortlessly, from their smartphones. This new breed of enthusiastic investors will be naturally overwhelmed with the technical jargon and confusing terms, so there is a need for an educational bridge.

READ: FG to inject over N198 billion on capital projects in power sector in 2021

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

Business Data Analyst Femi Adeoye notes that according to the data, amateur, retail investors have flooded into the US stock market in droves this year, with popular apps in the States reporting huge spikes in younger users.

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Mirroring the trend in America, globally first-time investors in Asia, Latin America and Nigeria are trading popular stocks like Amazon & Apple, as well as Tesla, Zoom and high-growth companies.

READ: Football: Manchester United net debt rises by 133% to £474.1million

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Users who sign-up with 30%Club have access to a dashboard with educational content, real-time market data, charting tools, instructional videos and podcasts. The platform is free for all to sign up while premium members are charged a fee for access to market intelligence from a few pros like Jim Cramer.

The club is non-custodial which means members handle & manage their capital personally. 30%Club does not invest nor trade on behalf of the public.

READ: Crypto owners robbed of 1,150,000 XRP

Trading is the new cool.

Seyi Atere-Roberts, the clubs’ founder, believes there will be a gradual explosion in active trading among young folks, even though this may begin as a side-hobby or hustle, with a potential for appetite to significantly increase as a regular monthly income. DIY Investing will become the norm, especially with the rising number of investment schemes failing to deliver their promised returns.

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We aim to guide the new generation of investors by providing a simplified learning experience. We implore our members to allocate most of their capital to long-term investing in solid Stocks, ETFs & Bitcoin while the rest to trading trends and momentum. The power of compounding ensures their long term portfolio grows exponentially while their trading portfolio profits from short-term trends bringing in additional monthly income. Investing is a lifelong lifestyle, trading is the new cool and investing in these fascinating assets is going to be as common as TikTok within the next decade.

You can learn the basics in an hour on our simplified Podcast and holla on Twitter or Facebook

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What every Nigerian business owner ought to know about bouncing back from 2020

While there is indeed access to several business tools on the internet, none have quite the contextual precision of SME Shop.

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It’s been said a thousand times already, 2020 was bad. But for those in business with a go-getter spirit, the question isn’t whether 2020 was bad or not, the question is how can 2021 be better? The answer to that question is SME Shop. If 2020 proved anything, it’s that having a great product, funding, and a group of people willing to buy what you’re selling, simply isn’t enough. You need to have knowledge, the kind of knowledge that defies pandemics, protests, and economic upsets. The kind of knowledge that SME Shop provides to MSMEs for free. SME Shop is the product of a collaboration between elite advertising agency TBWA Concept and Ford Foundation, which enlists industry experts in the delivery of lectures spanning marketing, distribution, best COVID-19 business practices, and so much more. It’s essentially a free, virtual masters in business. But how is SME Shop any different from the plethora of business gurus and hacks that exist online?

TBWA Concept assures that while there is indeed access to several business tools on the internet, none have quite the contextual precision of SME Shop. SME Shop’s lectures are delivered by the very people you look up to in business. It consists of leaders in fashion, tech, advertising, agric, and almost every industry you can conceive of. More so, because these are doers and not merely speakers of the word, you are afforded a learning curve that takes into consideration the many unique aspects of doing business in Nigeria, things like how to overcome the bureaucracy in accessing funds and grants. “Funding is important, but knowledge is better” says a TBWA Concept rep, the knowledge of how to access and apply those funds. And perhaps yours is an unconventional business, one made possible by the emergence of new media. Tik Tok, Influencer marketing, comedy, and content creation are quickly becoming viable businesses to pursue in Nigeria, but TBWA Concept insists that “Just because it’s a new business, doesn’t mean it won’t face the same old problems.” So it isn’t merely enough to know your craft, you must know the best business model to sell it.

TBWA Concept puts forward the example of the prosperous bubble that many businessmen in Nnewi lived in whilst the rest of Nigeria roiled in recession. It indicates that almost no market forces are beyond your control. With knowledge, all things are possible, so if you’re ready to innovate your way to business growth, this is it.

Beyond the virtual lectures, SME Shop provides consultations for MSME’s. You can register for the free courses here. Join the MSME revolution on our social media platforms and help your business bounce back from the upsets of 2020.

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Cititrust Holdings rewards outstanding staff

The highlight of the occasion was the presentation of the Staff of the Year Award to Mr Chuks Osuya by the Group Chief Executive.

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Cititrust Holdings rewards outstanding staff

Leading pan-african financial and investment conglomerate, Cititrust Holdings Plc, has held its annual award ceremony to reward outstanding employees across its subsidiaries and divisions for their hardwork and dedication.
This year’s event was held on Friday, November 13, at the banquet hall of Lilygate Hotel, in Lekki, Lagos.

READ: Tantalizers suffers loss of N245 million in 2020 9M

The occasion was witnessed by ranking members of the company’s management team, including Mr Yemi Adefisan, Group Chief Executive; Mr Ikechukwu Peter, Country Chief (Nigeria); Mrs Imade Edah-Dike, Country Chief (South Africa); Mr Afolabi Martin, Group Executive Director, Finance and managing directors of subsidiaries across Africa.
Adefisan in his remarks said Cititrust Holdings considers employees its most prized assets hence its continuous investment in their welfare.
“We consider our human resource as our most important asset. That is why we spare no cost in ensuring that they are well motivated and appreciated at all times. This has been our philosophy, which reflects on our employee productivity numbers year on year,” Adefisan said.
Also commenting on the company’s annual CEOs Retreat, which preceded the awards ceremony, Adefisan said the retreat afforded the executive management team the opportunity to strategise for the next financial year 2021.
According to him, the company has successfully undertaken a “critical reassessment of our current business models and have identified the required adjustments necessary to significantly boost our value propositions to investors and stakeholders, and also ensure the realisation of our strategic agenda”.
The highlight of the occasion was the presentation of the Staff of the Year Award to Mr Chuks Osuya by the Group Chief Executive.
Other award categories include, Award for Excellence, Division of the Year, Best Performing Company of the Year, Award for Prudence, Product of the Year, Most Innovative Company of the Year and Managing Director of the Year.
Explore Data on the Nairametrics Research Website

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