Dangote Cement, MTN to boost funds in capital marketplace for operations

Two of the three largest firms in Nigeria’s capital market, MTN Nigeria and Dangote Cement,

Two of the three largest firms in Nigeria’s capital market, MTN Nigeria and Dangote Cement, are heading to the inventory market to boost funds for his or her operations.

In separate statements to the investing public, MTN Nigeria plans to boost N150 billion via business papers whereas Dangote Cement will challenge bonds.

In its submitting dated April 7, 2022 and addressed to the Nigerian Alternate Group (NGX), Dangote Cement knowledgeable shareholders that it was considering second issuance of bonds underneath its N300 billion debt issuance to boost an undisclosed fund.

The assertion learn: “The bonds shall be issued imminently, topic to beneficial market situations. The Firm’s administration has disclosed that the proceeds of the bonds shall be utilized in the direction of funding growth initiatives, refinance current short-term debt and for common company functions.”

READ ALSO: MTN Nigeria bans outgoing requires customers who submit, however fail to confirm NIN

MTN Nigeria on its half proposed the Issuance of Sequence 1&2 Industrial Paper to assist diversify its liquidity sources.

The y’ello community mentioned the funds could be used to finance working capital and different operations.

The corporate had beforehand concluded 4 collection of issuances underneath its earlier N200 billion Industrial Paper shelf program.

Be a part of the dialog

Opinions

Assist Ripples Nigeria, maintain up options journalism

Balanced, fearless journalism pushed by information comes at enormous monetary prices.

As a media platform, we maintain management accountable and won’t commerce the precise to press freedom and free speech for a chunk of cake.

Should you like what we do, and are able to uphold options journalism, kindly donate to the Ripples Nigeria trigger.

See also  Naira depreciates by 0.12% to alternate at N420.25 per greenback

Your assist would assist to make sure that residents and establishments proceed to have free entry to credible and dependable info for societal growth.

Donate Now