Pathway Advisors Leads N11.45bn Lekki Gardens Issuance

Pathway Advisors Limited announced the successful lead of an N11.45 billion oversubscribed issuance for Lekki Gardens Estate Limited, part of a N25 billion commercial paper program approved by the Securities Exchange Commission until November 2025. The original offer was N10 billion, with the issuance attracting significant participation from institutional and corporate investors, resulting in notable oversubscription.

This strong demand highlights sustained investor confidence in Lekki Gardens, which has a proven development track record and robust governance framework. The proceeds from this issuance will support Lekki Gardens' working capital requirements for the completion of several ongoing projects.

Mr. Adekunle Alad, founder and CEO of Pathway Advisors, emphasized the firm's ability to mobilize capital from institutional investors and high-net-worth individuals. Richard Nyong, Managing Director of Lekki Gardens, noted that the oversubscription reflects market confidence in their business model and governance standards.

Mr. Emili Ateb, a director at Lekki Gardens, expressed appreciation for the strong investor response, reaffirming the strength of their development pipeline.