Daily Champion (Lagos)

Nigeria: Corporate Investors' Demand for OTC Bonds Increases

16 March 2010

Lagos — Corporate investors demand for Federal Government bond has continued to increase despite an appreciable growth of listed equities at the Nigerian Stock Exchange (NSE).

The demand was contained in the weekly transactions reviewed by the Nigerian Stock Exchange (NSE) made available to the News Agency of Nigeria (NAN) on Monday in Lagos.

According to the report, corporate investors bought 312.1million units of Federal Government bonds from over-the-counter-(OTC) market worth N404.68 million in 3,076 deals.

The 6th FGN Bond 2029 Series 3 with 67.05 million units valued at N101.16 million in 592 deals was the most active bond.

It was followed by the 6th FGN Bond 2019 Series 4 with 45.0 million units valued at N48.72 million in 381 deals.

Twenty of the available 38 FGN Bonds were traded during the week under review when compared with 22 in the preceding week.

Tagged: Business, Nigeria, Stock Markets, West Africa

Copyright © 2010 Daily Champion. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica aggregates and indexes content from over 130 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.

Comments Post a comment