By Tenebe Anthonia
The Nigerian Stock Exchange (NSE) has continued to provide an enabling environment for government and corporate organisations to raise capital for some critical operations.
The exchange, since the activation of its Business Continuity Plan on March 24, 2020 as a result of the lockdown caused by the Coronavirus disease (COVID-19), has attracted several new listings to the market.
Over three months ago, the NSE made it possible for trading to be done remotely so as not to cause a shutdown of the market because of the health crisis.
During this period, the exchange has helped government and corporates to raise not less than N968 billion, ranging from new and supplementary bond listings to rights issues, private placements and Exchange Traded Funds (ETFs).
These funds have been utilised to pay down financial obligations, support working capital, improve infrastructure development and facilitate business expansion.
On Monday, June 29, 2020, one of the latest to raise capital from the market, LAPO Microfinance Bank, listed its N6.2 billion bond on the NSE.
This listing came closely on the heels of the listing of Dangote Cement’s N100 billion bond on Friday, June 26, 2020, which is the largest corporate bond issued in the Nigerian debt capital market.
The CEO of NSE, Mr Oscar Onyema, in a recent interview, stated that, “The NSE is resolute in its commitment to be a trusted business partner to all our Issuers in accessing right-sized capital and achieving their strategic business objectives.
“In our efforts to fulfil this mandate, we have achieved all-round increased efficiency in terms of competitive pricing structures, increased turnaround time, enhanced customer experience and improved time to market.
“We believe this has translated into the remarkable resilience we have displayed amidst this pandemic, as well as increased investors’ confidence as reflected in stakeholders’ participation in our market across various asset classes,” Mr Onyema had said.
Since March 24, the NSE has successfully listed: LAPO Microfinance Bank’s N6.2 billion bond; 900,000 units of the NewGold ETF valued at N7 billion; Dangote Cement Plc’s N100 billion bond; UACN Property Development Plc’s N16 billion rights issue; and FBNQuest Merchant Bank’s Series-1 N5 billion bond.
Other were Flour Mills’ N12.5 billion and N7.5 billion bonds; Primero BRT Securitisation SPV Plc bond worth N16.1 billion bond; Golden Guinea Breweries Plc’s N1.2 billion Private Placement; and several government bonds worth over N797 billion.
Dipo Olowookere 
Adedapo Adesanya