The Nigerian Exchange (NGX) Limited has officially listed N4.075 billion of AVA Infrastructure Series 1 Fund on its trading platform.
In a statement released by the head of the Issuers Regulation Department at NGX, Godstime Iwenekhai, it was announced that trading license holders were informed about the listing of AVA Global Asset Managers Limited’s AVA Infrastructure Series 1 Fund.
The fund consisting of 4,075 units valued at N1 million each, issued at par under the N200 billion issuance programme.
The AVA Infrastructure Series 1 Fund’s 4,075 units have been listed on the Main Board of NGX at N1 million each as a closed-end Fund and naira-denominated unit trust scheme.
AVA Capital Partners Limited serves as the Issuing House for the Fund, with STL Trustees Limited as the Trustee, United Bank of Africa Plc as the Custodian, and Cordros Registrars Limited as the Registrar.
The Securities and Exchange Commission (SEC) has also approved the N200 billion Infrastructure Fund of AVA Global Asset Managers Limited, aimed at enhancing infrastructural development in Nigeria.
The fund, launched on January 29, 2024, and closed on March 6, 2024, seeks to address Nigeria’s infrastructure gaps by directing institutional capital into infrastructure projects in sectors such as power, telecommunications, agribusiness, gas distribution, processing, and storage.
Efe Shaire, the managing director of AVA Global Asset Managers, highlighted the fund’s objective of delivering consistent and reliable income to unit holders through debt financing for infrastructure projects in Nigeria.
He emphasized the importance of private sector involvement in infrastructure financing and the need for collaborative efforts and innovative financial products.
The listing of the AVA Infrastructure Fund on NGX reflects the growing interest in sustainable investing in Africa and NGX’s commitment to promoting sustainable financial instruments on its platform.
This initiative aligns with NGX’s sustainability drive for the capital market.
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