Infrastructure Credit Guarantee Company (InfraCredit), a credit guaranteeing company promoted by the Nigeria Sovereign Investment Authority (NSIA) and GuarantCo, has opened up to the general investing public with the listing of its shares on the NASD OTC Exchange Plc.
InfraCredit listed 15.255 billion shares at N2.43 per share, implying listing value of N37 billion. The listing of InfraCredit increased the Exchange’s total market value to N1.95 trillion.
Market analysts expected the listing of InfraCredit on NASD to provide opportunities for investors to invest in a reputable company with growth potential.
The listing will also boost liquidity and flexibility in trading on the company’s shares.
Chief Executive Officer, NASD OTC Exchange Plc, Eguarekhide Longe said the listing provides strategic partnership between NASD and InfraCredit.
According to him, the listing underscores the Exchange’s commitment to providing a platform for companies to access capital, increase liquidity, and enhance their visibility.
He said the listing was expected to have a positive impact on the market, the company, and investors.
“We are delighted to welcome InfraCredit to our platform. This listing, demonstrates our Exchange’s ability to attract top-tier companies and provide a conducive environment for businesses to thrive. We are committed to supporting InfraCredit’s growth aspirations and providing investors with opportunities to participate in the company’s success.
Read Also; NNPCL supplied 48mb to Dangote in naira for six months
“At NASD, we foster innovation through technology, creativity through exploring alternative financing structures, efficiency through running a largely digital operation that provides cost advantages to enterprises seeking listing opportunities, and approachability that demystifies the myth of ‘glossy glass buildings’ and ‘expensive suits’ that capital markets are renowned for that mentally debars budding entrepreneurs from exploring capital raise opportunities therein,” Longe said.
He noted that InfraCredit as a Tripple A rated company allows local and foreign institutional investors to invest in the complex but necessary infrastructure asset class.
“This listing of InfraCredit reinforces our belief in the impact we know we can make in significantly improving agriculture production, processing, distribution logistics and markets, steel development and fabrication -foundries as the bedrock of industrial transformation, serving as a catalyst to the indigenous automotive industry, scaling renewable energy, housing development and finance, the entertainment and creative industry and solid minerals, just to name a few concepts that we know resonate with InfraCredit. We look forward to an exciting great new vista for InfraCredit, NASD, and the Nigerian capital market in general,” Longe said.
He pointed out that the listing also serves a strategic initiative by InfraCredit to expand its footprint and impact on the domestic capital market as it currently enhances its capital base from foreign and local investors.
He added that the listing was a testament to the Exchange’s growing reputation as a platform of choice for companies seeking to raise capital and increase their visibility.
NASD has gradually evolved to provide a platform for growth enterprises to bridge the gap between the Nigerian capital market and the domestic economy, which has only an approximate 17 per cent share of the Gross Domestic Product (GDP), compared to the South African capital market’s size of approximately 333 per cent to GDP