RMB unveils plans to float, list bond on NSE
The bond, which is already registered with the Securities and Exchange Commission (SEC), is part of the bank’s collaborative efforts with NSE to come out with varieties of investment options that can be listed on the bourse.
The Chief Executive Officer of RMB Nigeria and Regional Head West Africa, Michael Larbie disclosed this on Wednesday at the closing bell ceremony of the bank’s 5th anniversary and official launch of the RMBN Stock Brokers at the NSE.
He said: “It’s been an interesting journey doing business in Nigerian market and just like every developing economy has its own challenges, you have to navigate your way through. We have navigated our way through in some, but we have been able to work with our client to continue to progress in what they do and along the line progress in our own business.
“In the last five years, we have been lucky and progressive, but it is never easy in an emerging market. Things are always never perfect, but since we are making some progress directionally, we can hang our heart on it and try and drive some businesses around it”.
Larbie, while speaking to journalists, explained that creating more products like derivatives, securities lending, options on stocks would help deepen the market, increase transaction volume and attract more investment into the market.
He added that the emphasis on corporate governance, which informed the decision to create a premium board on the exchange, would further boost investors’ confidence in the market.
He expressed optimism that the capital market would continue on a consistent growth trajectory, urging investors to leverage opportunities in the Nigerian market for a maximum investment returns.
“We hope that we would continue to do more for our clients and would have done some of the deals that we have on the pipeline.
We want to be seen as a trusted merchant bank in the Nigerian market; we want our clients to come to us as an institution they can trust and one that can help them think through challenging issues that they are grappling with.
“A country of this size with growth fundamentals is arguably the biggest economy in Africa and it is not a market to ignore.
It has fundamental building blocks for growth and with a little bit leadership and guidance. So, I do not see why the biggest economy should not do well.
“In terms of investment, generally, it is trying to show that Nigeria investment over time has done fairly well, so I think investors that are looking for a long term decent returns, this is the market to play and that is why as a bank, we continue to invest in Nigeria.
“We would continue to build our business and those foreign direct investment coming in will increment our capital and I think over time we remain optimistic on Nigerian economy,” he added.
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