FMDQ Securities Exchange Limited has admitted Dangote Cement’s N100 billion Commercial Paper (CP) on its platform, the largest issued by a non-financial institution in Nigeria on FMDQ’s platform.
A statement issued by the exchange indicated that the company’s N34bn Series 15 and N66bn Series 16 CP notes were admitted on its platform.
The CP notes were under Dangote Cement’s N150bn Domestic CP Issuance Programme.
FMDQ explained that the issuance and subsequent quotations of Dangote Cement’s CP was the largest issued by a non-financial institution in Nigeria on its platform.
It said, “The development is another testament of the efficient listings and quotations service offered by FMDQ Exchange. The exchange would continue to position the Nigerian capital market to support corporates and businesses seeking to raise capital to finance their funding needs.
“FMDQ Holdings Plc has through its subsidiary, FMDQ Exchange, continued to provide the required support to governments, corporates and individuals through the delivery of innovative and dependable capital market solutions.”
The exchange stated that through the Listings and Quotations Compliance function at FMDQ, investors were guaranteed continued disclosure of the issuer’s obligations to enable “this important category of market stakeholders” make informed decisions.
FMDQ added that “Investors are also provided a secure securities depository for the lodgement of their assets via FMDQ Depository Limited, thus ensuring an efficient and seamless flow of transactions from start to finish on FMDQ.”
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group which provides a one-stop platform for the seamless 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.