FMDQ Securities Exchange approved the quotation of TrustBanc
Holdings Limited’s N200 million Series 1 Commercial Paper (CP ). It was issued
under TrustBanc’s N10billion CP issuance programme.
The quotation of the maiden CP series followed the
successful registration of the CP programme last month.
The net proceeds from the CP would be used to fund
TrustBanc’s short-term financing requirement.
FMDQ stated that the TrustBanc quotation further validated
FMDQ Exchange as the choice platform for the registration, listing, quotation,
trading and recording of financial securities in the Nigerian financial market.
FMDQ noted that the CP market has continued to provide
corporate entities across the various sectors of the economy avenue to raise
funds to meet shortfalls in their working capital as well as other short-term
expenditures.
TrustBanc Holdings is a registered brand investment
management firm that offers an array of financial services such as banking,
brokerage, forex trading, and wealth management, through its subsidiaries –
TrustBanc Asset Management Limited, TrustBanc Capital Limited, TrustBanc
Microfinance Bank, TrustBanc Artur Limited and Primelink Bureau De Change.
FMDQ stated that TrustBanc’s CP, which was sponsored on the
Exchange by UCML Capital Limited, a registration member of FMDQ Exchange, like
all other securities, shall be made visible to investors and other market
participants through the FMDQ Exchange’s website and systems, as well as FMDQ’s
Daily Quotations List.
“Investors shall also benefit from the continuous
information disclosure and transparency availed to this CP. FMDQ Exchange is
committed to remaining innovative and providing timely and cost-efficient
services to support its stakeholders, particularly issuers and investors,
towards accessing capital, managing risks and invariably, improving their
corporate profile,” FMDQ stated.