By Dipo Olowookere
A real estate financing company, Family Homes Funds Limited, has listed the N20 billion Sukuk it issued to investors last year on the trading platform of the Nigerian Exchange (NGX) Limited.
The Islamic bonds with a seven-year maturity were sold to subscribers in September 2022 under the company’s N30 billion Sukuk Issuance Programme.
Business Post gathered that the papers were listed on the stock exchange on Friday, January 2023, and was given the trading symbol 14.00% FHSUK SEP 2029 and the symbol code of FHSUK202902.
The Family Homes N20 billion Series II Ijara Lease Sukuk was offered to investors with a coupon rate of 14.00 per cent. The coupon would be paid semi-annually on March 19 and September 19.
It was sold through a book building to qualified institutional investors and high-net-worth investors, with STL Trustees Limited, EAC Trustees Limited, Apel and Capital Trust Limited, and United Capital Trustees Limited as the joint trustees.
The stockbrokers for the transaction were APT Securities and Funds Limited, and Norrenberger Securities Limited, while Africa Prudential Plc was the registrar.
“Trading license holders and the investing public are hereby notified that the N20,000,000,000 14.00% Series II Ijara Lease Sukuk due 2029 under the N30,000,000,000 Sukuk Issuance Program was listed on Nigerian Exchange Limited (NGX) today, January 27, 2023,” a notice from the bourse disclosed.
Adedapo Adesanya