… sees strong demand
AVA Capital Partners Limited has announced the successful completion of a N20 billion Mudarabah Sukuk Issuance for TAJ bank, with the issue being 185.15 percent oversubscribed.
The offer which achieved a remarkable 285.15 subscription rate was issued under the N100 billion TAJ Sukuk Issuance Programme and an impressive N57.03 billion from 2,586 investors across Nigeria.
This underscores the strong and growing confidence in non-interest investment products. All applications were deemed valid, with no rejections, reflecting the credibility of the transaction structure and investor trust in the issuer and its advisers.
Speaking on the outcome, Kayode Fadahunsi, managing director, AVA Capital Partners Limited, said: “This transaction underscores the deepening confidence in Nigeria’s Islamic finance market and the appetite for ethically structured investment products.”
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“We are pleased to have partnered with TAJ Bank to deliver another landmark Sukuk issuance that not only strengthens non-interest finance but also channels capital toward impactful economic growth,” Fadahunsi said.
The issuance represents another significant milestone in Nigeria’s capital market, providing investors with a Shariah-compliant investment opportunity that combines competitive returns with sustainable economic value, the company said in a statement.
As financial adviser and lead issuing house, AVA Capital Partners played a pivotal role in structuring, coordinating, and managing the offer to ensure a seamless process and robust investor participation, it said.
According to them, this successful outing reinforces AVA Capital Partners’ consistent track record in executing high-impact capital market transactions across both conventional and non-interest finance segments, reaffirming its position as one of Nigeria’s most trusted and innovative investment banking firms.
The transaction was cleared by the Securities and Exchange Commission (SEC), with allotments processed and units are to be credited through the Central Securities Clearing System (CSCS).