August 29, (THEWILL) – FMDQ Securities Exchange Limited has announce the approval for the quotation of the FSDH Merchant Bank Limited (“FSDH”) ₦2.28 billion Series 3, ₦1.79 billion Series 4, and ₦15.53 billion Series 5 CPs under its ₦40.00 billion CP Issuance Programme on its platform. This is in FMDQ’s commitment to collaborate with market stakeholders to align the nation’s debt capital market (DCM) to international standards. This, it says, is also to ensure that growth and development opportunities that abound for the markets under its purview are explored.
According to FMDQ, the facility will boost the operations of FSDH, a leading licensed merchant bank in Nigeria with subsidiaries in asset management, pension funds management and securities. It stated further that 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.
FMDQ Exchange has also approved the quotation of the United Capital PLC ₦1.56 billion Series 5, ₦13.99 billion Series 6 and ₦4.17 billion Series 7 CPs under its ₦50.00 billion CP Issuance Programme on the Exchange.
United Capital PLC is a leading financial services Group focused on leveraging technology to empower businesses, individuals and governments with excellent financial services. The proceeds from the quotation of these CPs, which are co-sponsored by FSDH Capital Limited and UCML Capital PLC – Registration Member (Quotations) of FMDQ Exchange, will enable the company to provide a wider range of wholesale financing solutions to its clients as well as complement its funding base and support the growth of the overall business.
Market watchers say that the successful admission of these instruments, following due approval, attests to the highly efficient time to market listing and quotation services offered by FMDQ Exchange. They further commend FMDQ Exchange for its streamlined and efficient registration process, which the DCM platform continues to show in the bid to remain a world class organisation with global visibility, confidence and protection in the markets.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
