FMDQ Securities Exchange Limited (FMDQ Exchange) has listed commercial papers (CPs) worth about N141 billion so far in 2022.
Quotation report at the FMDQ Exchange indicated that the securities exchange has so far listed 22 commercial papers worth N140.73 billion so far this year.
FMDQ Exchange noted that the increasing quotation of CPs underscored the fact that corporate institutions have continued to explore alternative financing options by tapping the debt capital market to sustain their business activities and plug capital shortfalls.
In the latest quotation, FMDQ Exchange admitted United Capital Plc’s N12.48 billion Series 8 Commercial Paper (CP) to its board. The United Capital’s CP was issued under the company’s N50 billion CP Issuance Programme.
The net proceeds of the United Capital’s CP will be used by the company to finance short-term working capital requirements.
FMDQ Exchange assured that in line with its strategic objectives to support institutional growth and deliver prosperity to Nigerians, the Exchange will continue to demonstrate its commitment towards delivering a globally competitive, operationally excellent, liquid and diverse market.
FMDQ Exchange reiterated its commitment to promotion and provision of a world-class quotation service, availing issuers and investors the much-needed global visibility, confidence and protection in the markets.