Massive Investor Confidence! Legend Internet’s Commercial Paper Oversubscribed by 119.7%
Legend Internet Plc has achieved a major financial milestone as its Series 1 Commercial Paper (CP) recorded a 119.7% oversubscription, signaling strong investor trust in the company’s growth trajectory and financial strength.
Below is a full breakdown of this development
What Happened?
Legend Internet Plc opened its Series 1 Commercial Paper issuance, and investor demand far exceeded expectations — by 119.7%.
This means investors subscribed for almost double the amount the company initially sought to raise. Such a high oversubscription is a strong indicator of:
• Confidence in the company’s creditworthiness
• Positive sentiment around its performance and business model
• Belief in its future growth in the digital infrastructure sector
Who is Legend Internet?
Legend Internet Plc is one of Nigeria’s fast-growing digital infrastructure companies, providing:
• Fibre broadband
• Enterprise connectivity
• Digital services
• Next-generation technologies
They help power connectivity for households, businesses, and institutions across Nigeria.
How Does This CP Fit into Their Funding Plan?
The Series 1 CP is part of a ₦10 billion multi-layered financing programme designed to support the company’s medium- and long-term growth.
Proceeds from the Commercial Paper will be used for:
Broadband infrastructure expansion – extending high-speed internet across Nigeria
Working capital optimisation – improving operational efficiency
Strategic acquisitions – strengthening market position and accelerating digital innovation
️ What Company Executives Are Saying
CEO, Aisha Abdulaz
She described the oversubscription as:
• “Encouraging and validating”
• Proof of investor faith in the company’s financial integrity, operational strength, and long-term vision
She added that the funding will drive expansion, innovation, and a more connected Nigeria.
CFO, Chris Pitan
He highlighted that this achievement was made possible by the company’s:
• Disciplined financing framework
• Commitment to sustainability and scalability
• Focus on serving evolving customer needs
What This Means for Investors & the Market
• Strong investor appetite shows confidence in Nigeria’s digital infrastructure sector
• Legend Internet is positioning itself as a major player in fibre connectivity and digital services
• The oversubscription strengthens their ability to innovate and expand rapidly
• This move also signals increasing investor interest in commercial papers as a short-term investment vehicle
Legend Internet Plc has achieved a major financial milestone as its Series 1 Commercial Paper (CP) recorded a 119.7% oversubscription, signaling strong investor trust in the company’s growth trajectory and financial strength.
Below is a full breakdown of this development
What Happened?
Legend Internet Plc opened its Series 1 Commercial Paper issuance, and investor demand far exceeded expectations — by 119.7%.
This means investors subscribed for almost double the amount the company initially sought to raise. Such a high oversubscription is a strong indicator of:
• Confidence in the company’s creditworthiness
• Positive sentiment around its performance and business model
• Belief in its future growth in the digital infrastructure sector
Who is Legend Internet?
Legend Internet Plc is one of Nigeria’s fast-growing digital infrastructure companies, providing:
• Fibre broadband
• Enterprise connectivity
• Digital services
• Next-generation technologies
They help power connectivity for households, businesses, and institutions across Nigeria.
How Does This CP Fit into Their Funding Plan?
The Series 1 CP is part of a ₦10 billion multi-layered financing programme designed to support the company’s medium- and long-term growth.
Proceeds from the Commercial Paper will be used for:
Broadband infrastructure expansion – extending high-speed internet across Nigeria
Working capital optimisation – improving operational efficiency
Strategic acquisitions – strengthening market position and accelerating digital innovation
️ What Company Executives Are Saying
CEO, Aisha Abdulaz
She described the oversubscription as:
• “Encouraging and validating”
• Proof of investor faith in the company’s financial integrity, operational strength, and long-term vision
She added that the funding will drive expansion, innovation, and a more connected Nigeria.
CFO, Chris Pitan
He highlighted that this achievement was made possible by the company’s:
• Disciplined financing framework
• Commitment to sustainability and scalability
• Focus on serving evolving customer needs
What This Means for Investors & the Market
• Strong investor appetite shows confidence in Nigeria’s digital infrastructure sector
• Legend Internet is positioning itself as a major player in fibre connectivity and digital services
• The oversubscription strengthens their ability to innovate and expand rapidly
• This move also signals increasing investor interest in commercial papers as a short-term investment vehicle