Rand Merchant Bank Nigeria Limited has listed two series of commercial papers worth N20 billion on FMDQ Securities Exchange.
Rand Merchant Bank listed its N4.50 billion Series 1 and N10.50 billion Series 2 Commercial Papers (CPs) under its N80 billion CP issuance programme on the Exchange.
Rand Merchant Bank is an authorised financial services provider and a subsidiary of FirstRand Group Plc. It offers a comprehensive suite of investment banking products and services; advisory, finance and trading solutions; as well as investment opportunities and fund management to its diverse stakeholders.
FMDQ Exchange stated that the CPs, which are co-sponsored by Standard Chartered Capital & Advisory Nigeria Limited – lead sponsor; Rand Merchant Bank Nigeria Limited, Stanbic IBTC Capital Limited, FCMB Capital Markets Limited and FSDH Capital Limited shall be availed all the benefits of FMDQ Exchange’s prestigious listing and quotation service, including global visibility through the FMDQ Exchange website and systems, governance, credible price formation and continuous information disclosure to protect investor interest, among others.
“As part of the Exchange’s commitment to continuously leverage technology to foster innovation, transparency, and time-to-market efficiency in its securities admission service, the Exchange, last October, launched its Securities Admission Portal to automate all stages of FMDQ Exchange’s Securities Admission Service from the application filing to the review and approval stages.
“FMDQ Exchange will continue to provide a dynamic and innovative platform for capital formation, offering institutions the support required to impact their sectors,” FMDQ Exchange stated.