In a significant development, Nigerian Exchange Limited (NGX) said, it is set to admit the Nigeria Infrastructure Debt Fund (NIDF), a N200 billion public infrastructure investment fund by Chapel Hill Denham, onto the Exchange.
The Exchange, in commemoration of the listing, will host a Facts Behind the Listing and Closing Gong Ceremony on October 5, 2023. NIDF is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria. It aims to provide investors regular and stable income by making primarily debt investments in infrastructure projects located in Nigeria.
Chief executive officer, NGX, Mr. Temi Popoola emphasised the commitment of the Exchange to infrastructural development and wealth creation in the country.
He noted that the listing aligns with NGX’s mission to support financial market instruments that drive sustainable wealth creation and infrastructural advancement in Nigeria, saying, NGX will further enhance the visibility of NIDF, giving investors access to more investment options.
On his part, chief executive officer, Chapel Hill Denham, Mr. Bolaji Balogun, said, NIDF has been Nigeria’s best performing fund over the last five years and has delivered significant impact and economic returns.
He further stated that NIDF has achieved a market capitalization of N92.54 billion, a free float of 95 per cent and a remarkable record of zero non-performing loans from inception till date, a testament to an effective portfolio risk management strategy.
Through its listing on NGX, NIDF opens up the chance for investors to benefit from a diversified portfolio of asset backed loans across multiple sub-sectors and geographical spread, and listing on the Nigerian Exchange (NGX) will further improve liquidity.
Insurance led the activity with 336.294 million shares worth N80.457 million. Fidelity Bank followed with an account of 31.689 million shares valued at N264.857 million, while Consolidated Hallmark Insurance traded 25.126 million shares valued at N29.424 million.
Guaranty Trust Holding Company traded 24.633 million shares worth N885.386 million, while Wema Bank traded 24.016 million shares worth N103.814 million.
