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Home News Osun Bond: Lotus Capital Wins African Deal Of The Year Award
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Osun Bond: Lotus Capital Wins African Deal Of The Year Award

Staff March 5, 2014

Sukuk bond - 4Following the successful conclusion of the Osun State Sukuk, Foremost Halal investment management firm, Lotus Capital Limited, has been honoured as the best in Africa by the Islamic Finance News (IFN).
The award ceremony put together by IFN was held in the United Arab Emirates. Lotus Capital won the Africa Deal of the Year category as the lead issuing house for the N11.4 billion Osun state sukuk issue, which was listed on the Nigerian Stock Exchange (NSE) in September 2013.
This was the first ever sub-sovereign Sukuk in Africa. The issue was oversubscribed by about 20 per cent which was a positive confirmation of the trust and confidence the market placed on the offer.
The Osun state government, represented by the Honourable Commissioner of Finance, and the Solicitors to the Issue, Kola Awodein and Co, were also award recipients for the deal.
Close to 400 transactions were nominated for 2013 in over 30 categories in the IFN Awards Deal of the Year, signifying a 33 per cent rise in the number of nominations and a 20 per cent increase in categories over the previous year.
General Manager, Listings Sales and Retention, Mrs Taba Peterside, who represented the NSE at the event in Dubai, said “The NSE is focussed on broadening investor choice by introducing  a variety of new products to the market
“We are therefore delighted that Lotus Capital has been recognised with this prestigious award in structuring the first sub-sovereign African listed Sukuk. Lotus also developed our first Islamic Index on the NSE and we look forward to a continued fruitful partnership with them”
Lotus Capital Limited had partnered with The NSE in July 2012 for the development and management of a certified Shari’ah compliant Index known as the “NSE Lotus Islamic Index” or NSE LII.
The index consists of companies in conformity with the principles of Shari’ah and was the first index created to track the performance of Shari’ah compliant equities on the floor of the bourse. Investment instruments like Exchange Traded Funds (ETFs) are expected to be built on the Index which ethically minded investors, both in Nigeria and overseas can invest in.
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