NGX records N318.52bn listings in Q1 2023

By Cynthia Ezekwe

The Nigerian Exchange (NGX) Limited has disclosed that the platform recorded N318.52 billion listings across its equities, fixed income, mutual funds and derivatives categories in the first quarter (Q1) of  2023.

This was contained in the NGX X-Compliance report, a transparency initiative of NGX designed to maintain market integrity and protect the investors by providing compliance related information on all listed companies, and  provides timely information to investors to aid their capital allocation decisions and enable a proper functioning capital market.

According to the report, NGX recorded 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 per cent, fixed rate bonds due 2031 under its N500 billion debt issuance program.

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 programmes.

FTN Cocoa Processors Plc and Neimeth International Pharmaceuticals Plc both did supplementary listings of N850 million and N3.68 billion of shares respectively. 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.

Meanwhile, Temi Popoola the chief executive officer, NGX, had earlier noted that the Exchange had a renewed focus on listings for the year 2023, stating that it will be  using listings as a vehicle for meeting strategic aspirations as the new dispensation comes in through increased advocacy and engagements.