Culled—-Proshare January 26, 2018/Zedcrest Capital ***Nigeria Plans $2.5 Billion Eurobond Sale in First Quarter to Refinance Domestic Debt*** ***Seeks to return to JPMorgan’s local-currency bond index*** Bonds The Bond market opened on a relatively calm note, following the relatively moderate results from the previous day’s auction. The market however turned […]
Investors Bite
DMO Says First FGN Bond Auction for the Year Oversubscribed
Culled—Proshare January 26, 2018/DMO The Debt Management Office (DMO) conducted its FGN Bond Auction for January 2018 on Wednesday with two bonds offered — the 14.50% FGN JUL 2021 and the 16.2884% FGN MAR 2027. Both bonds were oversubscribed, with total subscriptions of N150 billion, a subscription rate of 136%. […]
Flour Mills of Nigeria Plc – Rights issue: Grist to the mill
Culled—Proshare January 26, 2018/RM Research We issue a BUY recommendation on Flourmill based on a FVE of N38.33, representing 24% and 42% upside from market and Rights Issue price of N30.80 and N27.00 respectively. Our positive sentiment is supported by the recovery in earnings (FH1 18: +44.6% YoY) with FY […]
