LAGOS-As part of efforts aimed at further deepening the nation’s stock market, the Council of The Nigerian Stock Exchange on Tuesday, through its Quotation Committee, approved for listing, issues worth N74.302 billion for six companies, two state governments and one financial instrument as follows:
Ebonyi State Government’s Bond Offerings of N20 billion Fixed Rate Development Bond 2010/2015 of N1, 000 each at par at 14 per cent. Specifically, the bond is for repayment of outstanding bank facilities as well as funding of the state infrastructural development initiatives. A Consortium of four Stockbrokers led by Cowry Assets Management Limited are the joint stockbrokers to the issue.
Kaduna State Government’s application for Offer for Subscription of N8,500,000,000 12.5 per cent Fixed Rate Bond 2010/2015 of N1,000 each at N1,000 per bond. The Bond was introduced by BGL Securities Limited.
Geo-Fluids Plc’s Listing by Introduction of 3,991,563,298 Ordinary Shares of 50 kobo each at N5.00 per share. The Issue was introduced by Falcon Securities Limited and Chartwell Securities Limited. The issue would shore up the Market capitalisation by N19.958 billion.
BGL Funds Limited’s Initial Public Offering for Nubian and Sapphire Funds of 500,000,000 and 2,000,000,000 units at N1.00 at par respectively. The stockbroker to the Listing is BGL Securities Limited.
Tantalizers Plc’s placing of 261,627,907 Ordinary Share of 50 kobo each at N0.86 per share of valued at N225 million with the International Finance Corporation (IFC). The issue was introduced by Skye Securities Limited.
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