By Chinwendu Obienyi
As part of its drive to provide extraordinary value to its stakeholders and foster development in the Nigerian financial markets at large, FMDQ Securities Exchange Limited has announced that it has admitted the quotation of the Prima Corporation Limited N7.02 billion Series 2 Commercial Paper (CP) under its N30.00 billion CP Programme on its platform.
According to the exchange, the admission which came with due approval of its Board Listings and Markets Committee, is part of the exchange’s strategy to avail its credible and efficient platform as well as its tailored registration, listing and quotation services to suit the needs of its varied market stakeholders.
Prima Corporation Limited is a leading manufacturer of preforms and caps in West Africa, supplying a host of international and local brands. The timely admission of this CP, and in general, all securities on FMDQ Exchange, are 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.
The CP, 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, thereafter, stated that it woukd 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 Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries.