Legend Internet just wrapped up its Series 1 commercial paper sale and pulled in nearly 120 percent subscription, which basically means investors wanted way more than what was available. CEO Aisha Abdulaz said the oversubscription shows people actually trust the company's financials and expansion plans, and the cash is part of a 10 billion naira financing program aimed at rolling out more broadband infrastructure across Nigeria.
The money goes toward fiber network buildouts, working capital tweaks, and potential acquisitions that should help Legend grab more market share. CFO Chris Pitan credited the blowout response to disciplined money management that lets the firm scale up without blowing through reserves, and management wants to keep pushing high-speed connectivity to areas that still get terrible internet service.
The money goes toward fiber network buildouts, working capital tweaks, and potential acquisitions that should help Legend grab more market share. CFO Chris Pitan credited the blowout response to disciplined money management that lets the firm scale up without blowing through reserves, and management wants to keep pushing high-speed connectivity to areas that still get terrible internet service.
