Geregu Power Plc has notified the Nigerian Exchange Limited and the investing public that it has received the regulatory approval to list the N40.09Billion Series 1 Fixed Rate Senior Unsecured Bond on FMDQ Securities Exchange.
This is according to a disclosure signed by the company secretary, Akinleye Olagbende, and filed with the Nigerian Exchange Group (NGX).
The N40.09 billion series 1 fixed rate senior unsecured bond which will be due in 2029 is part of the company’s 100.00bn multi-instrument issuance program on the FMDQ exchange
According to the company, the Bond will be added to the FMDQ’s daily quotations and Listings Page on the FMDQ Exchange website after which the Bond shall be admitted for trading.
Extracts from the disclosure read:
LISTING OF THE GEREGU POWER PLC 40.09BN SERIES 1 FIXED RATE SENIOR UNSECURED BOND DUE 2029 100.00BN MULTI-INSTRUMENT ISSUANCE PROGRAMME ON FMDQ EXCHANGE
Geregu Power Plc (the Company) hereby notifies the Nigerian Exchange Limited and the Investing public that the Company has obtained the approval to list the N40.09Billion Series 1 Fixed Rate Senior Unsecured Bond (the ‘Bond’) on FMDQ Securities Exchange.
Arising from the foregoing, the Bond will be added on the FMDQ’s daily quotations and Listings Page on the FMDQ Exchange website after which the Bond shall be admitted for trading.
About the Company
Geregu Power Plc (GEREGU), an electric generation company was listed on the Main Board of the Nigerian Exchange Limited on Wednesday, 5 October 2022.
The company has a total shares outstanding of N2.5 billion listed at N100 per share but currently trades at N110 per share according to data from the NGX as of this writing.
The electric generation company (GenCo) which was incorporated in 2006 is the first GenCo to be listed on the NGX Main Board; the exchange’s founding board which has been home to well-established companies with a demonstrable track record since 1961. A listing on the NGX Main Board requires a commitment to high standards of disclosure and corporate governance. Companies listed on the Main Board benefit from being able to leverage a reputable marketplace to access capital from a deep pool of local and international investors.
