The approval of the quotation of Flour Mills of Nigeria Plc’s N32.54 billion Series 5 commercial paper notes has been announced by FMDQ Securities Exchange Limited.
The FMDQ statement on Tuesday, the notes are a part of the company’s N200bn CP issuance program on the exchange’s platform.
MDQ Exchange is happy to announce that Flour Mills of Nigeria Plc’s ₦32.54bn Series 5 commercial paper has been approved for quotation on its platform as part of its ₦200.00bn Commercial Paper Issuance Programme.
Under its N100 billion CP Issuance Program, Flour Mills Plc listed N10 billion Series 13 and N20 billion Series 14 Commercial Paper notes on the Exchange’s platform in 2020.
FMDQ noted that most businesses across the globe continued to grapple with the economic effects of the COVID-19 pandemic.
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It claimed that as a result, its parent company, FMDQ Holdings Plc, had continued to work toward giving governments, businesses, and individuals the necessary support by offering creative and trustworthy capital market solutions.
The statement said, “The Nigerian CP market has remained a viable option for corporate entities looking to raise funds to meet shortfalls in their working capital needs, as well as other short-term expenditures.
“As with previous papers issued under the programme and like all other securities listed, quoted and traded on the FMDQ Exchange platform, the Flour Mills CPs shall be availed market visibility through FMDQ Exchange’s website and systems.”
Among other benefits derived from the admission to FMDQ Exchange, it stated that the firm’s CPs would enjoy transparency through their inclusion in the FMDQ Daily Quotations List, governance, and continuous information disclosure to protect investor interest.
