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Government, corporates raise N4.58 trillion from fixed income market

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Despite the weak macroeconomic situation, the Federal Government and corporate organisations in the country have so far raised N4.58 trillion

Data obtained from NGX’s X-Compliance Report on new listings in the fixed income market in 2021, revealed that the total number of issues within the period under review stood at 41 with 6.812 trillion units admitted to date.

Some of the issuers that have listed on NGX in the period under review include; NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government and Flour Mills of Nigeria Plc.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Zenith Bank, Access Bank. E-Tranzact International, University Press and Ecobank Transnational Incorporated .Analysts at Afrinvest Limited said: “In the next trading session, we expect the domestic bourse to extend bearish performance in the absence of any positive catalyst.”

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