Covid-19: Companies raise N222bn during lockdown

Adebayo Obajemu

Data from the Nigerian Stock E change gleaned by Business Hallmark revealed that Corporate organizations successfully mobilized at least N222.6 billion.

Despite the fact that COVID-19 pandemic has created major economic disruption of recent times, some of these companies managed to raise their heads. In spite of these disruptions, corporate organizations successfully raised at least N222.6 billion from the 24th of March till date, covering the toughest periods of the economic impact of the pandemic itself as well as the pandemic-induced lockdown.

Across the world, businesses and companies alike have sought out ways to curb the menace that is the pandemic through the introduction of cost-cutting measures to withstand the storm. However, in the midst of this, an array of companies have also sought out ways to raise finance to ensure their sustainability while also leveraging the relatively cheap opportunity to raise capital.

Data from the Nigerian Stock Exchange (NSE) shows corporate bodies and the government have raised capital and facilitated secondary market trading activities worth over N1.8 trillion.