FMDQ Securities Exchange Limited, on Tuesday, said it has approved the quotation of the Prima Corporation Limited ₦3.57bn Series 1 Commercial Paper (CP) under its ₦30bn CP Programme on its platform.

Prima Corporation Limited is a leading manufacturer of preforms and caps in West Africa, supplying a host of international and local brands.

Commenting on the successful issuance, the Group Executive Director, Prima Corporation Limited, Debasis Roy, expressed delight at the opportunity offered by the quotation of the inaugural Series 1 CP Issuance to access an alternative source of funding to meet our short-term working capital needs.

Also commenting, the Head, Capital Markets, FBNQuest Merchant Bank Limited, Oluseun Olatidoye, said “the funds raised will be utilised to meet the working capital needs of Prima Corporation Limited.  FBNQuest Merchant Bank Limited is also pleased with its intermediation role in assisting businesses to access alternative sources of funding through the domestic debt markets.”