Legend Internet Plc has achieved a major milestone after recording a 119.7 per cent oversubscription in its Series 1 Commercial Paper (CP) issuance, signalling strong investor confidence in the company’s financial strength and long-term growth strategy.
According to a statement released on Wednesday, the impressive market response reflects investors’ trust in Legend Internet’s operational structure, performance record and creditworthiness. The company, a fast-growing digital infrastructure provider, delivers fibre broadband, enterprise connectivity, digital services and next-generation technology solutions to customers across Nigeria.
The Series 1 CP issuance is part of the company’s N10 billion multi-layered financing programme, created to support medium- and long-term expansion. Funds raised from the issuance will be directed towards three major areas:
– Expanding broadband infrastructure to improve coverage across the country;
– Optimising working capital to strengthen operational efficiency;
– Pursuing strategic acquisitions that will enhance Legend’s industry position and accelerate innovation in service delivery.
Chief Executive Officer of Legend Internet Plc, Aisha Abdulaz, expressed appreciation for the strong investor participation. She said the oversubscription validates the company’s financial integrity and its vision for Nigeria’s digital future. According to her, the support received from the market will help Legend push forward with its mission to build a more connected and digitally competitive Nigeria.
Abdulaz explained that the milestone goes beyond raising capital, describing it as a strategic step that supports the company’s expansion goals and future acquisition plans. She thanked investors, advisers and partners for the continued confidence that is driving Legend’s growth.
The company’s Chief Financial Officer, Chris Pitan, also highlighted the importance of Legend’s disciplined financing approach. He said the company’s financial framework enables sustainable scaling, continuous innovation and the consistent delivery of solutions that meet evolving customer needs. Pitan added that Legend Internet Plc is committed to empowering individuals, businesses and communities with reliable, high-speed digital infrastructure.
Legend Internet Plc has positioned itself as an emerging pillar in Nigeria’s digital infrastructure ecosystem. The company continues to invest in high-speed fibre networks and advanced digital solutions as part of efforts to support national development, unlock economic opportunities and drive productivity across the country.
Through the success of this CP issuance, the company has strengthened its ability to implement growth plans and respond effectively to Nigeria’s rising demand for digital connectivity.
