FMDQ admits United Capital N12.48bn series

FMDQ Securities Exchange Limited has admitted the quotation of the United Capital PLC’s N12.48 billion Series 8 Commercial Paper (CP) under its N50.00 billion CP Issuance Programme on its platform.

The development follows the admission of twenty-one (21) Commercial Papers valued at over N128.25 billion thus far in 2022 and is in line with its strategic objectives to support institutional growth and deliver prosperity to Nigerians.

The proceeds from the quotation of this CP, which is co-sponsored by FSDH Capital Limited, UCML Capital PLC and NOVA Merchant Bank Limited – all Registration Members (Quotations) of FMDQ Exchange, will be used by the Issuer to finance short-term working capital requirements.

In its statement, the exchange however reiterated that it will continue to demonstrate its commitment towards delivering a globally competitive, operationally excellent, liquid and diverse (“GOLD”) standard to the Nigerian DCM through the promotion and provision of a world-class quotation service, availing issuers and investors the much-needed global visibility, confidence and protection in the markets.

It also said it is positioned to lead the transition towards a sustainable future through its wholly-owned subsidiaries through FMDQ Exchange, which operates Africa’s premier Green Exchange – FMDQ Green Exchange.

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 among others.