March 13, (THEWILL) – FMDQ Securities Exchange Limited has approved the quotation of the Coleman Technical Industries Limited N2.40 billion Series 3 and N3.65 billion Series 4 Commercial Papers (CPs) under its N20.00 billion CP Issuance Programme on its platform.
The successful quotation of these CPs is testament to the opportunities which the Nigerian debt capital market (DCM) avails to corporates in diverse business areas.
Coleman Technical Industries Limited is West Africa’s largest producer and distributor of electrical wires and cables.
The quotation of these CPs is sponsored by Coronation Merchant Bank Limited, Afrinvest Capital Limited, CardinalStone Partners Limited, FSDH Capital Limited and SFS Financial Services Limited – all Registration Member (Quotations) of FMDQ Exchange.
According to FMDQ, the transaction strategically positions CTIL to raise short-term finance easily and quickly from the Nigerian DCM. The CPs quoted on FMDQ Exchange benefit from the efficient CP quotation process, in addition to continuous provision of invaluable information and price formation as part of the Exchange’s commitment to organise, govern and enforce transparency in the Nigerian capital market space.
FMDQ Exchange said it will continue to lead the revolution in the development of the Nigerian DCM by providing credible market structures to corporate and commercial businesses with the opportunities to meet their short-term funding requirements, whilst building their profiles in the Nigerian DCM space. “FMDQ Exchange remains positive about the possibilities of the Nigerian DCM and will continue to implement, with the support of its stakeholders, initiatives that will improve and support economic growth and development for the benefit of the citizenry,” the Exchange said.
