The N150 billion Sovereign Sukuk, which closed its subscription offer on October 11, 2023, received an overwhelming response, with a total subscription of N652.827 billion, according to the Debt Management Office (DMO)…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
The DMO noted that the subscription level, at 435 percent of the offered amount (N150 billion), indicates a heightened awareness of the product and a willingness among investors to contribute to infrastructure financing.
In light of this robust demand for the Sukuk, the DMO has allocated N350 billion to various investors who participated in the Sovereign Sukuk subscription.
This allocated sum will be directed towards the construction and rehabilitation of roads and bridges across the six geopolitical zones and the Federal Capital Territory.
The DMO emphasized its dedication to fulfilling investor needs while concurrently supporting the growth of the domestic capital market in a statement released on Friday.
