Business

FMDQ Admits UCap, Sterling Bank Commercial Papers

FMDQ Exchange Limited, on Tuesday, announced the approval and admission of the United Capital Plc worth ₦1.35bn Series 1, and ₦3.97bn Series 2 CP under its ₦20.00bn CP Issuance Programme, and the Sterling Bank Plc’s ₦6.85bn Series 1 Tranche A and ₦8.15bn Series 2 Tranche A CP under its ₦100.00bn CP Issuance Programme onto its platform.
This, the exchange said in a statement, is “coming shortly on the heels of the issuances and subsequent successful admission of the Flour Mills of Nigeria PLC Bond, the Nigeria Infrastructure Debt Fund and the Coronation Merchant Bank Limited
Commercial Paper (CP) notes.”
The new listing, it added, is despite the economic headwinds experienced by businesses around the world owing to the COVID19 pandemic, following which the group, through its subsidiary, FMDQ Exchange, continues to avail necessary support to governments, corporates, and individuals through the provision of capital market solutions.
“The Nigerian capital market and indeed, the commercial paper market has in recent times provided the much-needed succor for corporate entities looking to raise funds to meet shortfalls in their working capital needs as well as capital expenditures.
‘These commercial papers like all other securities listed, quoted and traded on the FMDQ Exchange platform shall be availed global visibility through the FMDQ Exchange’s website and systems, transparency through its inclusion in the FMDQ daily Quotations List, governance and continuous information disclosure to protect investor interest, credible price formation amongst other benefits derived from the preferred admission to the FMDQ Exchange platform.”
As the realities of the aftermath of the COVID-19 pandemic hit businesses, communities, and individuals, the group restated its commitment to the market’s well-being and continued deployment of strategies aimed at promoting market development amidst the volatilities, in collaboration with market participants, towards boosting the resilience of the Nigerian financial market.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close