Business

Flour Mills’ N29.8bn bond listed

Flour Mills Nigeria Plc has listed its tranche A and tranche B bonds on the floor of the Nigerian Stock Exchange.

 

The listing was commemorated with a digital Closing Gong ceremony at the NSE. Speaking at the ceremony, the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole, noted: “It has been a positive start to the Nigerian capital market in the New Year and we are pleased to commemorate the listing of Flour Mills’ N29.8 billion Tranche A and Tranche B Bond Issue, the final series under its N70 billion bond issuance programme.

 

“As is our custom to celebrate significant milestones and accomplishments of our issuers, we also applaud and recognise the contributions of Mr. Paul Padedo, who recently retired after 38 years of meritorious service and congratulate Mr. Olusanya on his appointment as the Group MD/Chief Executive Officer at the NSE.

We remain committed to supporting the strategic objectives of our issuers, providing a platform for raising capital even in the toughest of times.”

 

On his part, Olusanya stated: “We thank the NSE for hosting us at this virtual closing gong ceremony today and we are excited about the role The Exchange is playing in deepening secondary market activities in the Nigerian market in line with international best practice.

 

“The issuance of the N29.8 billion tranche A and B bond coincides happily with the 60th anniversary of Flour Mills Plc and fully utilizes the N70 billion programme registered in 2018.

 

We will continue to explore opportunities to raise funds via the capital market as this has allowed us to diversify our funding sources whilst playing a critical role in the development of our market.” It would be recalled that in 2020, the NSE provided a platform for corporates and governments to raise capital to the tune of N4.015 trillion.

 

Since the activation of its business continuity plan, which saw the NSE transition to remote trading and working from home in March 2020, the exchange has remained resilience, maintaining seamless business operations since

 

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