FMDQ Securities Exchange Limited has announced the approval of the quotation of the Dangote Cement Plc N34bn Series 15 and N66bn Series 16 Commercial Paper notes on its platform.
The CP notes are part of the company’s N150bn Domestic CP Issuance Programme, according to a statement.
FMDQ said despite the economic headwinds associated with the transition of businesses into the “new normal” in view of the COVID-19 pandemic, the Dangote Cement CP issuance and subsequent quotation was another testament of the efficient listings and quotations service offered by the exchange.
It described the CP issuance as the largest by a non-financial institution in Nigeria.
The statement said, “FMDQ Holdings Plc has, through its subsidiary, FMDQ Exchange, continued to provide the required support to governments, corporates, and individuals through the delivery of innovative and dependable capital market solutions.
“As with previous notes issued under the programme and like all other securities listed, quoted and traded on the FMDQ Exchange platform, the Dangote Cement CPs shall be availed global visibility through FMDQ Exchange’s website and systems, as well as through their inclusion in the FMDQ Daily Quotations List, in order to ensure and maintain information transparency.”
It said through the listings and quotations compliance function at FMDQ Exchange, investors were guaranteed continued disclosure of the issuer’s obligations to enable the important category of market stakeholders make informed decisions.
“In line with the group’s vertically integrated market structure, investors are also provided a secure securities depository for the lodgement of their assets via FMDQ Depository Limited, thus ensuring an efficient and seamless flow of transactions from start to finish on FMDQ,” FMDQ added.
