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Flourmills, Primero BRT gets listed on the Nigerian Stock Exchange

Flourmills, Primero BRT gets listed on the Nigerian Stock Exchange

In line with its arrangements to maintain operations in the face of the Coronavirus, COVID-19, restrictions the Nigerian Stock Exchange, NSE, has successfully listed Flour Mills of Nigeria Plc and Primero BRT Securitization SPV Plc bonds worth N36.5 billion on the Exchange.

Flour Mills listing was its N12.5 billion 3-year, 10 percent Series 3 (Tranche A) Fixed Rate Senior Unsecured Bond due 2023; and the N7.5 billion 5-Year, 11.10 percent Series 3 (Tranche B) Fixed Rate Senior Unsecured Bond due 2025.

Also, Primero BRT listed its N16.5 billion Series 1; 17 percent Fixed Rate Bonds due 2026 under the N100 billion Medium Term Bond Programme.

The Group Managing Director, Flour Mills Nigeria Plc, Mr. Peter Gbededo, expressed excitement on the listing, saying: “We are delighted to return to the capital market with such a successful outing, especially with the level of interest shown by investors. The response from the market vindicates our decision to have taken this additional step to diversify our financing options beyond short-term commercial bank debt.

“Furthermore, we are excited about the role NSE is playing in deepening secondary market liquidity thus aligning our market with international best practices, and we look forward to enjoying the benefits of these efforts in our short and long-term instruments.”

Speaking, Oscar Onyema, Chief Executive Officer, NSE, reiterated the commitment of the Exchange to support its stakeholders saying: “As an Exchange, we are committed to ensuring that our operations and trading activities continue seamlessly throughout this period.

We have put in place the requisite measures to guarantee that our staff are able to provide requisite support, our stakeholders are able to conduct business digitally, and that all relevant information continues to flow into the market to spur capital market activity during the COVID-19 pandemic.”

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