By Dipo Olowookere
A financial and investment services power house providing bespoke value-added service to its clients, United Capital Plc has listed its $10 million Eurobond on the Nigerian Stock Exchange (NSE).
The listing was performed yesterday on the floor of the NSE and was witnessed by top members of the firm and the stock exchange.
Also, United Capital Plc listed its Wealth for Women Fund on the trading platform.
The United Capital Plc’s Nigerian Eurobond Fund is an open-ended mutual fund to be invested in Dollar denominated Eurobonds, floated by the Federal Government of Nigeria, Nigerian top tier banks and other corporate Issuers whose securities are registered with the Securities and Exchange Commission (SEC).
On its part, the Wealth for Women Fund aims to encourage women to imbibe a savings culture. The Fund will invest in businesses with significant women representation in their management/board.
The listings followed a successful Initial Public Offer (IPO) of 100,000 units of $100 each at par in the Eurobond Fund and 2,000,000,000 units of N1 each at par in the Wealth for Women Fund.
Speaking on the development, Managing Director of United Capital Asset Management, Mr Jude Chiemeka, stated that the current economic challenges have altered investment interests in the market.
He said the funds were designed specifically to suit the changing needs of investors, promising that the listing on the NSE will promote transparency and visibility of the funds.
Adedapo Adesanya