FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continues to avail its credible and efficient platform as well as tailor its listing and quotation services to suit the needs of issuers looking to seamlessly raise finance from the debt capital market (DCM). In a remarkable start to the year 2022, FMDQ Exchange has approved for quotation, the MeCure Industries Limited ₦0.49 billion Series 1 and ₦1.44 billion Series 2 Commercial Papers (CPs) under its ₦20.00 billion CP Issuance Programme on its platform.
MeCure Industries Limited (“MeCure Industries” or the
“Issuer”) is a leading human therapeutics company in the pharmaceutical
industry in Nigeria. MeCure Industries pioneered the development of novel products
and launched the pharmaceutical industry’s first tablet in a capsule
formulation called ‘Liquitab Floatcap’.
Commenting on the successful CPs quotation, the
Chairman/CEO, MeCure Industries Limited, Mr. Samir Udani, stated that “the
issuance will help the company meet its short-term working capital and funding
requirements. It will also strengthen our commitment to building and shaping
positively, the healthcare Industry in Nigeria”. Also speaking on the
transaction, the sponsor of the CP and a Registration Member (Quotations) of
the Exchange, Cordros Capital Limited, represented by the Executive Director,
Mr. Femi Ademola, CFA, stated, “Cordros Capital is proud to have sponsored the
quotation of the MeCure Industries Limited ₦0.49 billion Series 1 and ₦1.44
billion Series 2 CPs under the ₦20.00 billion CP programme. This transaction
has provided an alternative source of funding to the Issuer and will assist in
bolstering its working capital. Hence, positioning it as a leader in the
Pharmaceutical Industry”.
As issuers tap the Nigerian DCM to meet their funding needs
effectively and sustainably, as well as contribute to the development of the
nation through their activities, FMDQ Exchange will continue to work
collaboratively with market stakeholders to align the nation’s DCM to
international standards, and will, through the promotion of product and service
innovation and the championing of key market development initiatives, take
commendable steps to ensure that growth and development opportunities abound
for the markets under its purview.
FMDQ Group is Africa’s first vertically integrated financial
market infrastructure 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 – FMDQ Exchange, FMDQ Clear
Limited, FMDQ Depository Limited and FMDQ Private Markets Limited
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