Nike PopoolaThe Federal Government’s Sovereign Sukuk bond of N150n offered to investors was oversubscribed by N519.12bn, the Debt Management Office has said. The DMO said on Friday in a statement that the offer attracted a total subscription of N669.12bn, representing a subscription level of 446 per cent. It said it allotted N162.557bn to investors in the third Sovereign Sukuk. The debt office said the high demand for the bond came from a wide range of investors, including ethical funds, insurance companies, fund managers and retail investors. The statement said the participation by a wide range of investors was in line with the DMO’s objectives of diversifying the investor base for government securities and promoting financial inclusion.

Source: Punch June 12, 2020 23:48 UTC