FMDQ Exchange Lists Flour Mills N30bn CP
By Adedapo Adesanya
FMDQ Securities Exchange Limited (FMDQ) has announced admitting the N10 billion Series 13 and N20 billion Series 14 Commercial Paper (CP) of Flour Mills of Nigeria Plc under its N100 billion CP Issuance Programme.
The exchange, in a statement, noted that as most businesses across the globe continue to face the economic effects of COVID-19, it has sustained its efforts in the provision of required support to governments, corporates and individuals through the delivery of innovative and dependable capital market solutions.
“As the economic impact of COVID-19 continues to crystallise, FMDQ Group remains steadfast in contributing towards the emergence of a resilient financial market in Nigeria.
“The Group and its subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – shall continue to engage the market and invariably, deploy innovative strategiesleveraging the unrivalled capabilities within its vertically-integrated market infrastructure to promote market development and expansion.
“The Nigerian CP market has remained a viable option for corporate entities looking to raise funds to meet shortfalls in their working capital needs, as well as other short-term expenditures,” the exchange noted.
FMDQ Group is Africa’s first vertically-integrated financial market infrastructure (FMI) group which provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria.