FMDQ Exchange on Wednesday said it approved the quotation of additional N90billion Dangote Cement Plc Commercial Papers (CP) on it platform.
NewsBeatng reports that the approved N44.00 billion Series 4 and N46.00 billion series 5 CPs is under its N150 billion Programme on its platform.
Dangote Cement is one of Africa’s largest cement producers, with a production capacity of 51.6 million tonnes per year across 10 countries.
The proceeds from the Dangote Cement Series 4 and 5 CPs, which are sponsored by Stanbic IBTC Capital Limited (Lead Sponsor), ARM Securities Limited, FSDH Capital Limited and Quantum Zenith Capital & Investments Limited (Co-Sponsors) – all Registration Member (Quotations) will be used to fund expansion projects, refinance short-term debts, as well as working capital expenditure.
The admission of these CPs and other debt securities on the Exchange, by corporates across diverse sectors, continue to validate FMDQ Exchange as the choice platform for the registration, listing and quotation of debt securities in the Nigerian financial markets. It also lays credence to the innovation, efficiency, and operational excellence for which the Exchange is reputed for, as endorsed by issuers, investors, and other market stakeholders.
