Key Highlights
- The NGX saw N11.23 billion in FGN bond listings which constituted FGN Savings Bonds with maturities ranging between 2024 and 2026.
- The corporate bond segment recorded N112.42 billion senior unsecured bond listing from Dangote Industries Funding Plc and N31.36 billion in Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance programs.
- The NGX Chief Executive Officer, Mr. Temi Popoola, said that the Exchange had a renewed focus on listings for the year 2023.
The X-Compliance report of the Nigerian Exchange Limited has shown that the local bourse recorded N318.52 billion worth of listings across its equities, fixed income, mutual funds, and derivatives categories in the first quarter of 2023.
Government Bonds
According to the report obtained from the NGX, the local bourse saw N11.23 billion in Federal Government of Nigeria bond listings which constituted FGN Savings Bonds with maturities ranging between 2024 and 2026.
Lagos State Government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13%, Fixed Rate Bonds due 2031 under its N500 billion debt issuance program.
Corporate listings: NGX noted that the corporate bond segment recorded N112.42 billion senior unsecured bond listing from Dangote Industries Funding Plc and N31.36 billion in Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance programs.
It added that FTN Cocoa Processors Plc and Neimeth International Pharmaceuticals Plc both did supplementary listings of N850 million and N3.68 billion of shares respectively.
The report also showed that 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.
The local bourse also drove participation in its derivatives market with the listing of the NGX Pension index Futures Contract and NGX30 Index Futures Contract.
What you should know
The Chief Executive Officer, of NGX, Mr. Temi Popoola noted that the Exchange had a renewed focus on listings for the year 2023.
- “We will be using listings as a vehicle for meeting strategic aspirations as the new dispensation comes in through increased advocacy and engagements,” he had said.
The X-Compliance report is a transparency initiative of NGX designed to maintain market integrity and protect investors by providing compliance-related information on all listed companies. Through the report, NGX ensures that it provides timely information to investors to aid their capital allocation decisions and enable a properly functioning capital market.
NGX Group closed its last trading day on Thursday, March 30, 2023, at N28.00 per share on the Nigerian Stock Exchange (NGX), recording a 4.5% gain over its previous closing price of N26.80. Nigerian Exchange began the year with a share price of N25.05 and has since gained 11.8% on price valuation, ranking it 31st on the NGX in terms of year-to-date performance.
