DMO lists N130bn Sukuk on NGX and FMDQ
By Patience Ikpeme
The Nigerian Debt Management Office (DMO) listed the N130 billion Sovereign Sukuk on both the Nigerian Exchange Group (NGX) and FMDQ Securities Exchange on Thursday August 3.
The Sukuk was initially offered at N100 billion in November 2022, yet garnered an immense level of interest from investors that exceeded expectations, reaching N165.25 billion in subscriptions – over 165% of the original offering.
As a result, an allocation of N130 billion was made to accommodate diverse investor needs.
The total amount of Sovereign Sukuk issued since 2017 currently stands at N742.557 billion, with the proceeds facilitating the construction and rehabilitation of over 75 Nigerian roads and bridges.
Listing the Sukuk on both exchanges expands the range of financial offerings available to investors in the capital market, providing liquidity and promoting price discovery.
