By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Lafarge Cement WAPCO Nigeria Plc has listed N11.88 billion 11.5 percent (11.5%) Fixed Rate Bond (Series 1) 2011/2014 to the Daily Official List of the Nigerian Stock Exchange (NSE).

From the NSE’s Stock Market Report for the Week Ending Friday March 09 2012, the Bond is part of the N50 billion Debt Issuance programme. “By this the number of listed Corporate Bonds is six (6)” the NSE Report said.

The Bond had earlier been rated A+ by Agusto & amp; Co and AA- by Global Credit Rating Co. (GCR) on the strength of its robust security structure, market positioning and future cash flows.

The first series of the bond issuance programme, which is a 3-year fixed rate (2011-2014) Bond, was offered to subscribers by way of a Book Building.

According to Lafarge, proceeds from the  Issue is to be used  to re-finance part of the Company’s existing variable Interest Rate Loan facilities on the Lakatabu Expansion Project.

Still on new listing, IHS Nigeria Plc listed to the NSE’s Daily Official List 2,791,454,545 Preference shares Series II of N0.50 each at N3.08 per share. “By this, the number of listed Preference Shares and securities now stand at 3 and 256, respectively” the NSE said.

In the same vein, Flour Mills of Nigeria Plc also did a supplementary listing of 455,566,222 shares to the Daily Official List of the Nigeria’s Exchange; making the Issued Shares of the Company 2,334,776,889 shares.

This is coming on the heels of the raising of N34.97 billion ($220.80 million) in a Rights Issue of shares by Flour Mills.

According to Flour Mills, the Rights Issue was meant to raise N28.24 billion through the sale of 455.56 million Ordinary Shares at N62 per share, but shareholders bought 564.04 million shares in the offer; amounting to an oversubscription 23.83%.

Flour Mills had said that proceeds from the Issue would be used primarily to finance the Company’s Food and Cement business expansion.

Flour Mills in December raised N37.5 billion in five-year Bonds, the first tranche was a N70 billion programme.

Also, Starcomms Plc listed on the Daily Official List of the Nigeria’s Exchange 208,654,433 shares of N0.50 each at N0.50 per share as part of the Telecomm Company’s Staff Equity Incentive Scheme.

“The listed shares form part of the 343,923,905 shares approved by the NSE Quotations Committee on November 10, 2011. By this action, the Issued Shares of the Company is now 7,087,132,530 shares” the NSE said.