FMDQ Securities Exchange Limited (FMDQ Exchange) has listed Prima Corporation Limited’s N7.02 billion Series 2 Commercial Paper (CP). The CP was issued under Prima Corporation’s N30 billion CP programme on its platform.
Prima Corporation is a leading manufacturer of preforms and caps in West Africa, supplying a host of international and local brands.
FMDQ Exchange stated that the timely admission of the CP like all other securities on the Exchange, was reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market.
“This CP which is sponsored by United Capital PLC – a Registration Member (Quotations) of FMDQ Exchange, shall be availed the benefits of the value-driven quotation service on the Exchange, including global visibility through its website and systems, transparency through its inclusion in the FMDQ Daily Quotations List, credible price formation and continuous information disclosure through FMDQ’s Quoted Commercial Paper Status Report, to protect investor interest.
“The Exchange will continue to work closely with its stakeholders to provide access to capital for issuers seeking to raise debt finance by providing an enabling platform that promotes requisite secondary market liquidity, among other benefits,” FMDQ Exchange stated.
FMDQ Group noted that it is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing and central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across various segments of the markets.
FMDQ Group includes four wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
