InfraCredit’s Capital Market Listing Raises NASD’s Market Value To N1.95trn
NASD OTC Exchange Plc, an over-the-counter (OTC) exchange in Nigeria, has listed 15,255,079,725 of Infrastructure Credit Guarantee Company (InfraCredit) at N2.43 each, valued at N37bn, which increased the exchange’s total market value to N1.95trn.
The listing provides a strategic partnership between NASD and InfraCredit and highlights the Exchange’s commitment to providing a platform for companies to access capital, increase liquidity, and enhance their visibility. The development is expected to have a positive impact on the market, the company, and investors.
NASD’s Chief Executive Officer, Eguarekhide Longe, speaking on the listing, said NASD was delighted to welcome InfraCredit to its platform, adding that the listing demonstrates the Exchange’s ability to attract top-tier companies and provide a conducive environment for businesses to thrive.
He noted that Exchange is committed to supporting InfraCredit’s growth aspirations and providing investors with opportunities to participate in the company’s success.
“At NASD, we foster innovation through technology, creativity through exploring alternative financing structures, efficiency through running a largely digital operation that provides cost advantages to enterprises seeking listing opportunities, and approachability that demystifies the myth of ‘glossy glass buildings’ and ‘expensive suits’ that capital markets are renowned for that mentally debars budding entrepreneurs from exploring capital raise opportunities therein.
“This listing of InfraCredit reinforces our belief in the impact we know we can make in significantly improving agriculture production, processing, distribution logistics and markets, steel development and fabrication (foundries as the bedrock of industrial transformation), serving as a catalyst to the indigenous automotive industry, scaling renewable energy, housing development and finance, the entertainment and creative industry, and solid minerals, just to name a few; concepts that we know resonate with InfraCredit. We look forward to an exciting great new vista for InfraCredit, NASD PLC, and the Nigerian capital market in general,” he said.
Longe stated that the listing is also a strategic initiative by InfraCredit to expand its footprint and impact on the domestic capital market, as it currently enhances its capital base from foreign and local investors.
He added that it is a testament to the Exchange’s growing reputation as a platform of choice for companies seeking to raise capital and increase their visibility.
Longe said NASD has gradually evolved to provide a platform for growth enterprises to bridge the gap between the Nigerian capital market and the domestic economy, which has only an approximate 17 per cent share of the gross domestic product (GDP), compared to the South African capital market’s size of approximately 333 per cent.
InfraCredit’s Capital Market Listing Raises NASD’s Market Value To N1.95trn is first published on The Whistler Newspaper
