Dangote Industries Lists N200bn Bonds on Nigerian Exchange Limited

Dangote Industries has listed its N200bn series 1 and 2 bonds on the Nigerian Exchange Limited, making it the largest aggregate local currency bond issued in the capital market this year.

Speaking at the closing-gong ceremony to commemorate the listing, Dangote Industries Limited CEO, Olakunle Alake, expressed his delight and said the listing showcased the depth and liquidity of the domestic capital market despite the current global market realities.

The bond recorded participation from various investors including domestic pension funds, asset managers, and insurance companies, demonstrating confidence in Nigeria’s credit reality.

Jude Chiemeka, Divisional Head, Capital Markets at NGX, commended the listing, stating that it provides corporates with an opportunity to raise capital. He further noted NGX’s commitment to facilitating similar transactions through digital gateways and fostering a more robust ecosystem.

Dangote Industries’ bond listing on the Nigerian Exchange Limited reflects the confidence of investors in the Nigerian capital market.