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FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
SpaceX shares crash by $600bn in market value in one week, as Musk loses trillionaire status
SpaceX shares had peaked at $225.64 on June 16, but less than a week after the largest IPO in history, shares crashed to $147.11 briefly dipping below the opening price before recovering again to close at around $156. The slide wiped…
SEC bans marketing of ‘unapproved’ Dangote Refinery IPO with immediate effect
Capital market regulator, the Securities and Exchange Commission (SEC) has banned the marketing and promotion of a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE with immediate effect. According to SEC, no application for such an…
Otedola acquires 680m First HoldCo shares to raise stake to 20.42%
Group Chairman, First HoldCo, Femi Otedola, has become the company’s single largest majority shareholder after acquiring about 680 million shares of the group, representing a 20.42 per cent stake. According to a private placement allotment from the group, Otedola was…
SterlingHoldCo gets shareholders’ nod for $400m capital raise
Shareholders of Sterling Financial Holdings Company (SterlingHoldCo) Plc have approved the company’s move to raise up to $400 million in fresh capital as part of efforts to strengthen its capital base and support expansion across its businesses. The approval was granted…
FirstHoldCo completes fresh N45bn private placement at N44.06/share to strengthen First Bank operations
FirstHoldCo Plc has announced successful completion of the N45 billion second tranche of its ongoing N350 billion private placement programme. The group disclosed that the fresh capital raise will be injected into First Bank of Nigeria Limited, the group’s flagship…
CBN offers N450bn NTBs for auction, Wednesday, as overall maturities for Q2 ’26 remain at N3.197trn
Central Bank of Nigeria (CBN), Wednesday, put up for offer a total of N450 billion worth of Nigerian Treasury Bills (NTBs) for auction for todayJune 17, with the settlement date set for June 18. An official notice to Primary Money Market…
United Capital acquires 5% equity stake in NGX
Investment firm, United Capital Group has announced the acquisition of a 5 per cent equity stake in the Nigerian Exchange Group (NGX) Plc. The acquisition which was disclosed in a statement issued on Monday, June 15 and signed by the…
NGX’s ASI climbs by 0.27%, as PMI rises to 54.1% in May
Nigerian Exchange (NGX) All-Share index edged up 0.27 per cent amid decreasing liquidity, just as the Purchasing Managers’ Index (PMI) jumped to 54.1 all in May 2026, according to the Exchange and StanbicIBTC reports. According to the NGX report covering up…
Elon Musk becomes world’s first trillionaire, as successful SpaceX IPO shoots net worth above $1.1trn
South African-born tech magnate, Mr Elin Musk has (on paper) become the world’s first trillionaire. The feat follows the businessman’s initial public offering (IPO) of his company, SpaceX’s shares soaring his net worth when it hit the stock market. The…
