FMDQ Approves N30.05 Billion CP Issuances, Boosting Nigeria's Debt Market
FMDQ Securities Exchange has given the green light to the quotation of new commercial paper (CP) issuances totaling more than N30.05 billion across three companies. This move signals investor confidence and strong creditworthiness of Nigerian corporates operating in finance, manufacturing, and agriculture.
The Nigerian Exchange Group activated the trading code for VFD Group Plc's Rights Issue, offering 5,067,396,400 ordinary shares at N10 per share. Meanwhile, Skymark Partners Limited listed N11.49 billion Series 48-50 CPs under its N30 billion issuance programme. HillCrest Agro-Allied Industries Limited also listed N3.56 billion Series 8-10 CPs under its N10 billion programme, while Champion Breweries Plc listed N15 billion worth of CPs, including N4.22 billion Series 1 and N10.78 billion Series 2. These listings raised a cumulative total of N30.05 billion on the FMDQ platform. The recent approvals and listings underscore the expanding role of exchanges as key enablers of capital formation for both private and publicly listed entities.
FMDQ Securities Exchange's approval of these commercial paper issuances, totaling over N30 billion, demonstrates the resilience of Nigeria's debt market and the trust investors have in Nigerian corporates. Companies continue to leverage cheaper capital market funding channels, despite macroeconomic pressures.
