InfraCredit Listing: A Game-Changer for Nigeria’s Capital Market?

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The NASD OTC Exchange Plc has significantly bolstered its market position with the listing of 15,255,079,725 shares of Infrastructure Credit Guarantee Company (InfraCredit) at N2.43 per share. This listing, valued at N37 billion, has propelled the exchange’s total market capitalisation to N1.95 trillion.

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According to NASD’s Chief Executive Officer, Eguarekhide Longe, “At NASD, we foster innovation through technology, creativity through exploring alternative financing structures, efficiency through running a largely digital operation that provides cost advantages to enterprises seeking listing opportunities, and approachability that demystifies the myth of ‘glossy glass buildings’ and ‘expensive suits’ that capital markets are renowned for that mentally debars budding entrepreneurs from exploring capital raise opportunities therein.”

The listing of InfraCredit, a Triple-A-rated company promoted by the Nigeria Sovereign Investment Authority (NSIA) and GuarantCo, is expected to have a profound impact on both the market and investors. InfraCredit’s presence on NASD offers investors an opportunity to participate in a company that plays a vital role in developing Nigeria’s infrastructure sector.

Longe welcomed InfraCredit to the platform, emphasising NASD’s ability to attract top-tier companies and provide a conducive environment for business growth. He also highlighted NASD’s role in fostering innovation, exploring alternative financing structures, and making the capital market more accessible to entrepreneurs

The listing aligns with InfraCredit’s strategy to expand its footprint in the domestic capital market while enhancing its capital base with support from both foreign and local investors. Market analysts noted that this development provides investors with greater diversification opportunities, increased liquidity, and enhanced flexibility in trading InfraCredit shares.

As NASD continues to evolve, it serves as a bridge between the Nigerian capital market and the domestic economy, which currently holds only about 17 percent of the nation’s gross domestic product (GDP). In contrast, South Africa’s capital market represents approximately 333 percent of its GDP. The successful listing of InfraCredit reinforces NASD’s growing reputation as a preferred platform for companies seeking capital, signalling further growth for Nigeria’s capital markets

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