Saturday, May 3, 2025

Debt Management Office lists N130bn sukuk on NGX, FMDQ

Must read

Ibrahim Ramalan
Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
- Advertisement -
tiamin rice
tiamin rice

The Debt Management Office, DMO, says it is set to expand capital market offering, by listing its N130 billion Sovereign Sukuk on the Nigerian Exchange Ltd., NGX, and the FMDQ Securities Exchange Ltd.

The DMO made this known in a statement obtained from its website on Thursday.

According to the statement, listing of the N130 billion Sovereign Sukuk on the NGX and FMDQ will expand the range of financial offering available to investors in the capital market.

tiamin rice

“The opportunity to buy and sell the Sovereign Sukuk will provide liquidity to investors and promote price discovery,” it said.

It revealed that the total Sovereign Sukuk issued since the product was introduced in 2017 stood at N742.57 billion.

READ ALSO:   Nigeria accounts for 24,000 missing persons, highest in Africa -- Red Cross
whatsApp

“The proceeds have facilitated the construction and rehabilitation of over 75 Nigerian roads and bridges,” the DMO said.

The N130 billion Sovereign Sukuk opened for subscription in November 2022 with an initial offer of N100 billion.

It, however, garnered immense interest from investors with a subscription level of N163.25 billion, which represents over 165 per cent of the amount offered.

A total of N130 billion was, however, allocated by the DMO to accommodate diverse investment needs of various investors who subscribed to the product.

The NGX, formally known as the Nigerian Stock Exchange, NSE, and the FMDQ provide a wide range of services, including listing and tracing securities, licensing, market data solutions among others.

READ ALSO:   Reps tackle power ministry over prolonged electricity outage

NAN

- Advertisement -

More articles

- Advertisement -

Latest article

- Advertisement -