CardinalStone lists 5-year N5bn bonds on NGX

Goddy egene

The Nigerian Exchange Limited (NGX) has listed CardinalStone Financing SPV Plc’s 5 billion naira 5-year Series 1 bonds as part of the company’s naira 10 billion debt issuance program.

Speaking at the virtual listing ceremony, Division Head, Business Listings, NGX Limited, Mr. Olumide Bolumole told NGX Limited, they continue to provide issuers with a platform to achieve their goals. strategic business and it is the pleasure of the stock exchange to see issuers taking full advantage of our products and services to support their growth.

“We are, therefore, delighted with the successful listing of CardinalStone Financing SPV Plc’s N5 Billion Series I Bond on the NGX platform, as it creates a path of price discovery and liquidity for existing investors. and new.

“The full underwriting of the registered listing demonstrates investor confidence in CardinalStone, which now better positions the company to support its impressive growth in the years to come,” he added.

For his part, Group Managing Director, CardinalStone Partners Limited, Mr. Michael Nzewi, said: “Today is particularly exciting for us at CardinalStone as it represents the fulfillment of our aspiration to list some of the titles in our corporate structure. capital on the stock market. . We thank NGX for giving us the opportunity to list on its platform; without their support we would not be here today.

“We want to assure NGX that we are committed to finding ways to leverage its products and services and to stimulate the capital market participation of other institutions. Of course, we are appealing to our colleagues in the industry to take the opportunity to raise capital on NGX as we have done. “

Also speaking, the Managing Director of CardinalStone Asset Management Limited, Mr. Mohammed Garuba, said: “I thank NGX for the opportunity to be here today and I must congratulate NGX for facilitating transparent remote trading. during the past year; the impact is clearly seen in the capital raising activities on the exchange. I must also congratulate NGX on the recent launch of its campaign, The Stock Africa Is Made Of.

“This is indeed an exciting initiative because it has helped re-engage key players within the financial market value chain. While the focus has been on stocks in the past, listing a bond is another way to not only raise capital, but also improve governance within an organization, which has been our experience. We have learned from this process and are ready to support our counterparts and clients who wish to embark on this adventure.

Likewise, the Managing Director of ChapelHill Denham Advisory Limited (Senior Financial Advisor / Issuing House), Ms. Kemi Awodein, thanked the capital market players.

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