Legend Internet Plc has reported a 119.7 per cent oversubscription in its Series 1 Commercial Paper (CP) issuance, reflecting robust market confidence in the company’s financial strength and operational capabilities. The announcement was made in a statement released on Wednesday.
The oversubscription underscores positive investor sentiment toward Legend Internet’s performance, creditworthiness, and business structure. The issuance is part of the company’s N10 billion multi-layered financing programme, aimed at supporting medium- to long-term growth initiatives. Funds raised from the Series 1 CP will be used to expand broadband infrastructure across Nigeria, optimise working capital, and fund strategic acquisitions to strengthen market presence and accelerate service innovation.
Speaking on the milestone, Chief Executive Officer Aisha Abdulaz described the strong investor response as a validation of the company’s long-term vision. “The strong investor participation in our Series 1 Commercial Paper issuance is both encouraging and validating. It demonstrates the market’s belief in our financial integrity, operational strength and long-term vision for digital infrastructure growth,” she said. Abdulaz added that the financing event is a strategic enabler for the company’s expansion plans, operational needs, and future acquisitions, reinforcing Legend Internet’s commitment to building a more connected and digitally enabled Nigeria.
Chief Financial Officer Chris Pitan highlighted that the oversubscription reflects the company’s disciplined financing framework, which allows for sustainable growth, innovation, and delivery of advanced digital solutions. “This achievement is powered by our disciplined financing framework, which enables us to scale sustainably, innovate continuously and consistently meet the evolving needs of our customers,” he said, adding that the company remains focused on driving connectivity, productivity, and growth across communities nationwide.
Legend Internet Plc, a leading digital infrastructure provider, offers fibre broadband, enterprise connectivity solutions, digital services, and next-generation technologies across Nigeria. The success of the Series 1 CP issuance signals investor confidence in the company’s strategic approach and its role in advancing the country’s digital ecosystem.