FMDQ to boost Capital Market Investment, as DMO lists N130bn sukuk on NGX

 Debt Management Office (DMO) speaks on efforts to expand capital market offering, by listing its N130 billion Sovereign Sukuk on the Nigerian Exchange Ltd. (NGX) and the FMDQ Securities Exchange Ltd.

According to the statement, listing

of the N130 billion Sovereign Sukuk on the NGX and FMDQ will expand the range of financial offering available to investors in the capital market.

“The proceeds have facilitated the construction and rehabilitation of over 75 Nigerian roads and bridges,” the DMO said.

The News Agency of Nigeria (NAN) reports that the N130 billion Sovereign Sukuk opened for subscription in November 2022 with an initial offer of N100 billion.

It, however, garnered immense interest from investors with a subscription level of N163.25 billion, which represents over 165 per cent of the amount offered.

A total of N130 billion was, however, allocated by the DMO to accommodate diverse investment needs of various investors who subscribed to the product.