Coronation Lists N8.79bn Infrastructure Fund On NGX

Coronation Asset Management Limited has listed an N8.9 billion infrastructure fund under its N200 billion issuance programme on the main board of the Nigerian Exchange (NGX).

The fund aims to support economic growth by investing in critical infrastructure projects, providing investors with opportunities for long-term returns. This listing underscores Coronation’s commitment to driving infrastructure development and economic progress in Nigeria.

In the NGX weekly report, Coronation Asset Management revealed that 87.9 million units of the fund, priced at N100 per unit, were listed on the Exchange, with a total value of N8.79 billion.

Coronation Asset Management’s chief executive officer, Aigbovbioise Aig-Imoukhuede, explained that the initiative aligns with the firm’s philosophy of creating products that drive economic impact.

“At Coronation, our belief is simple: great products can shape economies. The Coronation Infrastructure Fund is one such product: rooted in deep market insight, backed by strong governance, and built to generate wealth sustainably,” he said.

He added that the fund is designed to help address Nigeria’s infrastructure deficit by channelling long-term capital into critical sectors.

The head of the Coronation Infrastructure Fund, Mayowa Ikotun, emphasised the wider importance of the listing, saying that “CIF’s listing marks a turning point. It is the moment infrastructure investing becomes democratised through our product offering. At Coronation, we turn vision into investable outcomes.”

The development follows the successful close of the Series 1 Offer of the Coronation Infrastructure Fund in 2024, which raised N8.79 billion. In 2024, Coronation Asset Management Limited issued its series one instruments, announcing the successful close of the offer in June with a capital raise of N8.79 billion.

At the time, the company reported a subscription rate of 43.95 per cent, which, it noted, was the highest recorded in the Nigerian market for a debut infrastructure fund.

The subscription level surpassed previous debut rates of 33.75 per cent and 24.70 per cent recorded by similar institutions, and it also accounted for the largest amount raised for a maiden infrastructure fund in the market.