Nigerian Exchange Limited (NGX) has officially admitted the Nigeria Infrastructure Debt Fund (NIDF), a N200 billion public infrastructure investment fund managed by Chapel Hill Denham, to its platform.
This listing marks a significant milestone as NIDF becomes the first local currency-denominated infrastructure investment trust fund not only in Nigeria but also in Sub-Saharan Africa.
The listing ceremony, which occurred on Thursday, featured a Closing Gong Ceremony where the fund’s management engaged with market stakeholders through a presentation titled “Facts Behind the Listing.”
Nigeria infrastructure debt fund
Managed by Chapel Hill Denham, the Nigeria Infrastructure Debt Fund (NIDF) is a substantial N200 billion public infrastructure investment fund that has garnered support from institutional investors, including the Nigeria Sovereign Investment Authority (NSIA).
The fund provides long-term financing in Nigerian naira for private infrastructure projects and has demonstrated remarkable performance since its inception, delivering a return of 155%.
NIDF’s 853,817,692 units have been listed on the Main Board of NGX at a rate of N8.39 per share.
Investors can look forward to receiving quarterly dividends, as the fund aims to distribute profits generated from investments in key sectors such as power, transportation, healthcare, and education.
Commenting on this development, Mr. Temi Popoola, Chief Executive Officer of NGX, commended Chapel Hill Denham for consistently adding value to the exchange and contributing significantly to the growth of the capital market over the past five years.
He highlighted the importance of the capital market as a solution for addressing governance challenges, particularly in raising debt funding, and noted that NIDF’s listing is not only significant for Nigeria but also for international markets, making it an attractive option for retail investors.
Mr. Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham, expressed enthusiasm for the listing, emphasizing its positive impact on Nigeria’s economy.
He highlighted the diverse range of areas in which NIDF invests, including transportation, power, education, telecoms, and social infrastructure.
Balogun stressed the continuous need for investment in infrastructure to drive the nation’s growth and underscored the significance of infrastructure as an asset class.