FMDQ Exchange Admits N19.6bn FSDH Merchant Bank’s CPs

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FMDQ Securities Exchange Limited (‘FMDQ Exchange) yesterday said it has admitted N19.6billion FSDH Merchant Bank Limited’s Commercial Papers (CP) Issuance Programme on its platform.

The Exchange, in a statement said it has approved for quotation of the FSDH Merchant Bank’s N2.28 billion Series 3, N1.79 billion Series 4, and N15.53 billion Series 5 CPs under its N40.00 billion CP Issuance Programme on its platform.

The securities exchange stated that it will continue to work collaboratively with market stakeholders to align the nation’s debt capital market (DCM) to international standards/

It added that it has taken commendable steps to ensure that growth and development opportunities abound for the markets under its purview.

FSDH, it added, is a leading licensed merchant bank in Nigeria with subsidiaries in asset management, pension funds management and securities trading.

According to FMDQ, “The net proceeds from the quotation of the FSDH Series 3 – 5 CPs, which is sponsored on FMDQ Exchange by Stanbic IBTC Capital Limited – a Registration Member (Quotations) of FMDQ Exchange, will be utilised to support FSDH’s short term financing requirements.

“The successful admission of these CPs, following due approval, attests to the highly efficient time to market and ‘second-to-none’ listing and quotation services offered by FMDQ Exchange. With its streamlined and efficient registration process, FMDQ Exchange continues to show its steadfastness through the provision of a world-class quotation service, availing issuers and investors, global visibility, confidence and protection in the markets.”

SOURCE:  THISDAY

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