Home Business Nigeria: NSE Facilitates N1 Trillion Capital Raise for Govts, Corporates in 10 Months

Nigeria: NSE Facilitates N1 Trillion Capital Raise for Govts, Corporates in 10 Months

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Governments and corporates have raised about N1 trillion across the various asset classes of the Nigerian Stock Exchange (NSE) between January and October, between January and October, the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole, has said.

He disclosed this at a webinar hosted by the exchange in collaboration with Odu’a Chambers of Commerce and Industry on Wednesday in Lagos.

The themed: “Capital Raising in a Pandemic,” the vent was held in furtherance of the NSE’s commitment to educating business promoters on the alternative funding opportunities available in the capital market to catalyse business growth. This comes on the back of the significant reduction in major sources of revenue for key sectors of the economy occasioned by the COVID-19 pandemic and other macroeconomic issues which have negatively impacted business across various industries and highlighted the need for capital raising opportunities.

According to Bolumole, the NSE as a platform for capital formation has products and services to support capital raising across economic sectors, adding that the NSE continues to deliver on its promise to provide a platform for issuers and investors to meet their financial objectives even in the most difficult times.

” For instance, despite the impact of COVID -19, the NSE has facilitated needed financing with about N1 trillion in capital raised by governments and corporates between January and October across various asset classes. With the All Share Index as at the 9th of November appreciating by over 20 per cent since the start of the year and the fixed Income market capitalisation currently over N17 trillion, the market has depth to accommodate required capital,” he said.