The tranche A and tranche B bonds of Flour Mills of Nigeria Plc cumulatively value at N29.8billion will be listed on the Nigerian Stock Exchange (NSE) on Thursday, January 21.

The Tranche A bond which got approval on January 12 for listing on the NSE is the N4.890billion, 5 Years 5.5% Series 4 Fixed Rate Senior Unsecured Bond Due 2025. It is under the N70billion Flour Mills of Nigeria Plc’s Bond Issuance Programme.

The Tranche B which also got approval on January 12 for listing on the NSE is the N25billion, 7 Years 6.25% Series 4 (Tranche B) Fixed Rate Senior Unsecured Bond Due 2027. It is also under the N70billion Flour Mills of Nigeria Plc’s Bond Issuance Programme.

Read Also: Nigeria’s inflation at 15.75% in December surpasses CBN year-end target

CSL Stockbrokers Limited is the stockbroker to the bonds while the issuing house(s)/financial adviser(s) are FCMB Capital Markets Limited; ARM Securities Limited; CardinalStone Partners Limited; Stanbic IBTC Capital Limited; FBNQuest Merchant Bank Limited; Coronation Merchant Bank Limited; and Quantum Zenith Capital & Investments Limited.

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Flour Mills of Nigeria has continued to thrive in recent years, recording decent performance despite the macro-economic headwinds and challenges faced in Nigeria’s consumer goods market.

The Exchange will host a closing gong ceremony with the Group Managing Director of Flour Mills of Nigeria Plc, Omoboyede Olusanya.

Flour Mills Of Nigeria Plc’s consolidated and separate statement of profit or loss and other comprehensive income for the six months ended September 30, 2020, shows its group revenue grew to N355.108billion from N270.761billion in the same period of 2019.

Group operating profit increased to N23.731billion from N16.820billion in the same period of 2019. The group’s profit before tax (PBT) of N14.606billion in six months ended September 30, 2020, surpassed N8.634billion recorded in 2019; while the profit for the year stood higher at N9.932billion, up from N5.903billion in the same period of 2019. The shares of Flourmills increased by 50kobo or 1.56percent on Wednesday, January 20 to N32.5, heading to its 52-week high of N32.95.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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