FMDQ Lists Dangote Cement's N90bn Commercial Papers

Samuel Mobolaji

FMDQ Securities Exchange Limited has approved the quotation of the Dangote Cement Plc N90 billion Commercial Papers on its platform.

The CP comprises of N44.00 billion Series 4 and N46.00 billion Series 5 Commercial Papers under Dangote Cement’s N150.00 billion CP Programme.

FMDQ, in a statement to The Daily Times said: “The proceeds from the Dangote Cement Series 4 and 5 CPs, which are sponsored by Stanbic IBTC Capital Limited, ARM Securities Limited, FSDH Capital Limited and Quantum Zenith Capital & Investments Limited, will be used to fund expansion projects, refinance short-term debts, as well as working capital expenditure.”

According to the Exchange, 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. FMDQ Exchange shall continue to provide an efficient platform targeted at supporting the aspirations of institutions and government within the Nigerian financial markets,” he said.

Dangote Cement is one of Africa’s largest cement producers, with a production capacity of 51.6 million tonnes per year across ten (10) countries.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market.