FMDQ Securities Exchange Limited, through its Board Listings and Markets Committee, has approved the registration of the Sundry Foods Limited N10 billion Commercial Paper (CP) Issuance Programme on its platform in August 2022. Sundry Foods Limited (the Issuer) is one of Nigeria’s leading food services companies, operating in the quick service restaurant, bakery, and catering segments.
The Company has over one hundred and thirty (130) branches
across Nigeria with a variety of franchises that include Kilimanjaro, Pizza
Jungle, Nibbles Creamery, Nibbles Bakery, Kiligrill, and Sundry Foods Services.
The successful registration of this CP Programme, which is
sponsored by CardinalStone Partners Limited (the Lead Sponsor), SCM Capital
Limited and Stanbic IBTC Capital Limited, all Registration Member (Quotations)
of the Exchange, strategically positions the Issuer to raise short-term finance
from the Nigerian debt markets at specific times during the CP Programme
validity it deems strategically viable, through CP issuances, within the CP
Programme limit.
Speaking on the successful CP Programme registration, the
Managing Director, Sundry Foods Limited, Mr. Ebele Enunwa stated: “We remain
committed to harnessing the full potential of Sundry Foods Limited and creating
superior value to all our stakeholders.
This is evident in the growth we have experienced in the
past year, which has been as a result of visionary leadership and a defined
growth strategy.
We look forward to engaging market participants under this
N10.00 billion CP Programme.” Also, the Managing Director, CardinalStone
Partners Limited, Mr. Michael Nzewi, stated: “CardinalStone Partners Limited is
pleased to have spearheaded the registration of the debut CP Programme for
Sundry Foods Limited.
We believe our role in assisting Sundry Foods Limited with
raising capital will actualise its strategic growth objectives by providing
opportunities to access a wider universe of market participants.”