Osun Bond: Lotus Capital Wins African Deal of the Year Award

The investment management firm Lotus Capital Limited has been honoured as the best in Africa by the Islamic Finance News (IFN). Lotus Capital won the Africa Deal of the Year Award 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. The issue was oversubscribed by about 20 per cent. 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. Besides, Lotus also developed the country's first Islamic Index on the NSE, known as the “NSE Lotus Islamic Index” or NSE LII. The Index recorded +44.21 per cent in 2012 and +61.84 per cent in 2013.