InfraCredit listing on NASD boosts market cap to N1.95trn

NASD OTC Exchange Plc has listed 15,255,079,725 of Infrastructure Credit Guarantee Company (InfraCredit) at N2.43 each, valued at N37 billion. The listing increased the OTC Exchange’s total market value to N1.95 trillion.

The historic listing provides strategic partnership between NASD and InfraCredit, underscores the Exchange’s commitment to providing a platform for companies to access capital, increase liquidity, and enhance their visibility. The development is 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,” said Eguarekhide Longe, CEO, NASD.

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 17percent share of the Gross Domestic Product (GDP), compared to the South African capital market’s size of approximately 333 percent to theirs.

Market watchers explained that the listing of InfraCredit on NASD will provide opportunities for investors to invest in a reputable company with growth potential, expand their scope for diversification and boost liquidity and flexibility in trading of the Company’s shares.

Longe said: “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”.

“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 Plc and the Nigerian Capital Market in general,” Longe said.

“The listing is also 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. It is a testament to the Exchange’s growing reputation as a platform of choice for companies seeking to raise capital and increase their visibility”, Longe added