N300bn Bond Listing: Dangote Industries Lauds NGX Market Depth 

The Group Chief Executive Officer, Dangote Industries Limited, Mr Olakunle Alake has expressed delight upon the completion of the listing of the firm’s N200bn series 1 and 2 Bonds on Nigerian Exchange Limited, commending the depth of capital market.

This was said at the Closing Gong Ceremony commemorating the listing of the bond held at the Exchange on Wednesday, 29 March 2023. Alake, who was represented by the Group Chief Finance Officer, Mallam Mustapha Ibrahim said, “We are pleased to have showcased the depth and liquidity of the domestic capital market whilst we reflect the strong quality of the issuer, despite the current global market realities.”

According to Ibrahim, the depth of the market reflected in the successful issuance of the bond, which was the largest aggregate local currency bond issued in the capital market so far, within the year. He further noted that the listing of the bond recorded participation from a wide range of investors including domestic pension funds, asset managers and insurance companies and further demonstrates investors’ confidence in Nigeria’s credit reality.

The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka, speaking at the event, applauded the listing of the bond which provides corporates the opportunity to raise capital. “The listing of this transaction on our platform not only allows for a more liquid capital market, but it also shows our capacity to facilitate large transactions towards enabling a more robust ecosystem.”


He further noted that NGX remains committed to fostering similar transactions through our digital gateway such as this and a confident market where corporates and investors can achieve their respective objectives.

Photo Caption:

From Left — Anthony Chiejina, Group Head, Corporate Communications, Dangote Group; Bayo Rotimi, Managing Director, Greenwich Merchant Bank; Dr. Titilayo Fowokan, Group Head, Strategic Tax and Compliance, Dangote Group; Chuka Eseka, Vetiva Capital Management Limited; Tokunbo Aturamu, Head, Debt Capital Markets, Stanbic IBTC Capital; Elizabeth Ebi, Group Managing Director, Futureview Financial Services Limited; Tony Esene, Group Head, Corporate Finance, Dangote Industries Limited; Mallam Mustapha Ibrahim, Group Chief Finance Officer, Dangote Industries Limited; Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited (NGX); Yemisi Deji Bejide, Head, Mergers & Acquisitions, Standard Chartered Capital & Advisory Nigeria Limited; Dalu Ajene, Managing Director, Rand Merchant Bank Nigeria Limited; Oluwole Abegunde, Group Managing Director; Meristem Capital Limited; Funso Akere, Chief Executive Officer, Stanbic IBTC Capital; Azeezah Muse-Sadiq, Solicitor, Banwo & Ighodalo and Gbadebo Adenrele, United Capital Plc, during Dangote Industries Limited Closing Gong ceremony commemorating the Dangote Industries Funding plc series 1 and 2 Bond listing at the Exchange today in Lagos.

Post Author: Friday Ekeoba