FMDQ Securities Exchange Approves Flour Mills of Nigeria’s N32.54bn Commercial Paper Quotation

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FMDQ Securities Exchange Limited has announced the approval of the quotation of Flour Mills of Nigeria Plc’s N32.54 billion Series 5 commercial paper notes.

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The notes, which form part of Flour Mills of Nigeria’s N200 billion Commercial Paper Issuance Programme on the exchange’s platform, were approved for quotation, according to a statement from FMDQ on Tuesday.

In the statement, FMDQ Exchange expressed its satisfaction in approving the quotation of Flour Mills of Nigeria Plc’s ₦32.54 billion Series 5 commercial paper under its ₦200.00 billion Commercial Paper Issuance Programme on its platform.

Previously, Flour Mills Plc had listed N10 billion Series 13 and N20 billion Series 14 Commercial Paper notes under its N100 billion CP Issuance Programme on the Exchange’s platform in 2020.

FMDQ highlighted the ongoing economic challenges faced by businesses globally due to the COVID-19 pandemic. It emphasized that its parent company, FMDQ Holdings Plc, remained committed to providing necessary support to governments, corporates, and individuals by delivering innovative and reliable capital market solutions.

According to the statement, the Nigerian Commercial Paper market continues to serve as a viable option for corporate entities seeking to raise funds for working capital needs and other short-term expenditures.

The Flour Mills CPs, like previous papers issued under the programme, will benefit from market visibility through FMDQ Exchange’s website and systems. Additionally, they will be included in the FMDQ Daily Quotations List, ensuring transparency, governance, and continuous information disclosure to safeguard investor interests.

The admission of Flour Mills of Nigeria’s CPs to FMDQ Exchange underscores the platform’s commitment to facilitating efficient capital market transactions and providing valuable opportunities for corporates to access funding for their business operations.

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