Legend Internet Plc has recorded a financial milestone after its Commercial Paper issuance closed with over 100 per cent subscription, underscoring strong investor confidence in the company’s business model, growth strategy and long-term outlook.
The oversubscription reflects market sentiment towards the broadband and digital services provider, despite prevailing macroeconomic headwinds, and strengthens its liquidity position to support ongoing network expansion and operational initiatives.
The company said proceeds from the Commercial Paper programme will be deployed to fund working capital requirements, enhance network infrastructure, and support strategic investments aimed at deepening broadband penetration across Nigeria.
Legend Internet noted that the successful issuance aligns with its broader growth objectives, following a year marked by strategic achievements, including new technology partnerships, service innovation and its recent listing on the Nigerian Exchange.
Industry analysts say the uptake of the Commercial Paper highlights investor appetite for technology-driven companies with scalable business models and exposure to Nigeria’s growing demand for reliable digital connectivity.
Legend Internet reaffirmed its commitment to financial management, customer-focused innovation and the delivery of long-term value to shareholders, as it continues to position itself as a player in Nigeria’s evolving landscape.
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