According to the company, FMDQ Securities Exchange Limited,
FMDQ, continues to demonstrate its commitment to fostering the development of
the Nigerian debt capital market by championing and supporting strategic
market-driven initiatives.
The Exchange remains the choice platform for the
registration, listing, quotation, trading and reporting of financial
securities, amongst other activities.
In keeping with this commitment, FMDQ Exchange, through its
Board Listings and Markets Committee welcome the quotation of the Dangote
Cement PLC ₦15.20 billion Series 1, ₦7.96 billion Series 2 and ₦17.84 billion
Series 3 Commercial Papers under its ₦150.00 billion Commercial Paper Issuance
Programme on its platform.
Dangote Cement PLC, a subsidiary of Dangote Industries, is
Sub-Saharan Africa’s leading cement company, with a production capacity of 48.6
million tonnes per year across ten (10) countries.
The proceeds from the Dangote Cement Series 1 – 3 CPs, which
were sponsored on the Exchange by Stanbic IBTC Capital Limited – a Registration
Member (Quotation) of FMDQ Exchange, will be used to support the company’s
short-term working capital and funding requirements.
With the growing interest of corporate entities in the
commercial paper market to finance short-term funding and liquidity
requirements through the DCM, FMDQ Exchange remains unrelenting in its
provision of integrated services to stakeholders, spearheading initiatives to
boost secondary market liquidity and facilitating effective price formation,
among other activities via its platform.
The statement hints that the Exchange shall continue to
support institutional growth and stimulate continuous development of the
economy at large, through the promotion and provision of a world-class
quotations service.
By quoting these CPs on the Exchange, Dangote Cement is
availed unique benefits which include, but are not limited to, enhanced
investor confidence, transparent/relevant information disclosure on the issue,
effective price formation and global visibility.
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