{"id":48188,"date":"2021-04-13T20:55:15","date_gmt":"2021-04-13T19:55:15","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=48188"},"modified":"2021-04-13T20:55:15","modified_gmt":"2021-04-13T19:55:15","slug":"nigerian-exchange-ngx-open-for-business-with-bua-cements-n115bn-bond","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigerian-exchange-ngx-open-for-business-with-bua-cements-n115bn-bond\/","title":{"rendered":"Nigerian Exchange (NGX) Open For Business With BUA Cement\u2019s N115Bn Bond \u00a0"},"content":{"rendered":"

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Nigerian Exchange (NGX) Limited listed BUA Cement Plc\u2019s \u20a6115billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond issue, the first listing in the NGX era today, 13 April 2021.<\/p>\n

The listing was commemorated with a digital Closing Gong Ceremony featuring the Chief Executive Officer (CEO), BUA Cement Plc, Engr. Yusuf Haliru Binji.<\/p>\n

Speaking during the ceremony, the Divisional Head, Listings Business, NGX Limited, Mr. Olumide Bolumole stated, \u201cIn line with its commitment to support Nigeria\u2019s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub, NGX Limited continues to provide a platform that offers investors varied options including Equity, Fixed Income, Exchanged Traded Products (ETPs) and other Funds. We are, therefore, excited about BUA Cement\u2019s debut bond offering which was oversubscribed by 37% to the tune of N137.82 Billion and represents the largest amount raised by a corporate issuer in the history of Nigeria\u2019s Debt Capital Market. Without a doubt, this is a testament to the high level of confidence placed on this reputable brand by its investors and the entire market.\u201d<\/p>\n

On his part, the CEO, BUA Cement Plc, Engr. Binji commented, \u201cI would like to thank the management of NGX Limited for the invitation to bring trading activities to a close. Today marks another key milestone on our journey to becoming the preferred cement manufacturer in Africa. As part of our growth strategy, we took the deliberate decision to access the debt capital market with the intent to raise N100 Billion in the first tranche of our N200 Billion programme. Given the overwhelming response and in accordance with the Securities and Exchange Commission\u2019s guidelines, we accepted N115 Billion as the total subscription amount. For us this was clear assessment of our viable business model, strong financial performance, and the strength of our product offerings.\u201d<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Speaking on behalf of the parties to the transaction, the Chief Executive, Stanbic IBTC Capital, Mr. Funso Akere stated, \u201cWe are, extremely delighted to have advised BUA Cement Plc on this landmark transaction where they took advantage of very supportive conditions in the debt capital market to raise long term funding. On behalf of Stanbic IBTC Capital Limited, Tiddo Securities and Union Capital, we would like to thank BUA Cement for giving us a freehand to guide them and the commitment showed to make the transaction a phenomenal success. We would also like to thank NGX for giving us a platform to list the bonds.\u201d<\/p>\n

NGX has reiterated its commitment to providing issuers with a platform that allows them to continue to raise capital even in the toughest of times whilst also facilitating secondary market trading activities.<\/p>\n

It would be recalled that The Nigerian Stock Exchange recently completed its demutualisation which led to the creation of Nigerian Exchange Group Plc (\u2018NGX Group\u2019), as the non-operating holding company with three operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulatory arm of the Exchange; and NGX Real Estate Limited (NGX RelCo), the real estate company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerian Exchange (NGX) Limited listed BUA Cement Plc\u2019s \u20a6115billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond issue, the first listing in the NGX era today, 13 April 2021.<\/p>\n","protected":false},"author":6,"featured_media":20138,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[8474],"coauthors":[2391],"class_list":["post-48188","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-bua-bond-listing"],"yoast_head":"\nNigerian Exchange (NGX) Open For Business With BUA Cement\u2019s N115Bn Bond \u00a0 - National Wire<\/title>\n<meta name=\"description\" content=\"Nigerian Exchange (NGX) Limited listed BUA Cement Plc\u2019s \u20a6115billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond issu\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nigerian-exchange-ngx-open-for-business-with-bua-cements-n115bn-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian Exchange (NGX) Open For Business With BUA Cement\u2019s N115Bn Bond \u00a0 - 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