FG, Corporates raised N4.58 trillion from fixed pay market – NGX
Abiola Odutola by Abiola Odutola June 24, 2021Reading Time: 2 mins read
Stockbrokers rake in N127 million in NGX Shares
Regardless of the feeble macroeconomic circumstance of the country, the Nigerian Exchange Group (NGX Group) Plc keeps on furnishing backers with a stage that permits them to meet their essential business destinations. Up until now, between January to June 3, 2021, the Federal Government and Corporate Organizations have raised N4.58 trillion from the capital market by means of the fixed pay section.
Information got from NGX’s X-Compliance Report on new postings in the fixed pay market in 2021, uncovered that the absolute number of issues inside the period under audit remained at 41 with 6.812 trillion units conceded till date. The information further uncovered that the Federal Government was the most dynamic part in the fixed pay fragment, while the worth or market capitalization of the new postings until June 3, 2021 remained at N4.58 trillion, from twelve backers.
Guarantors keep on communicating fervor and fulfillment over the capacity to get to capital from the market and rundown the protections on NGX in order to give liquidity to financial backers.
A portion of the guarantors that have recorded on NGX in the period under survey incorporate NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government, and Flour Mills of Nigeria Plc.
The Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole said the trade keeps on furnishing guarantors with a stage that allowes them to meet their essential business targets and it is the Exchange’s joy to see backers exploit their items and administrations to help their development stories.
NGX stays focused on driving feasible items and safe interests in a market that is precise and straightforward, while utilizing state of the art innovation. As far as capital arrangement on the NGX stage, this year, the trade has worked with required financing of over N4.6 trillion raised by governments and corporates across different resource classes.