Zedcrest Capital Gets FMDQ Approval To Quote N5bn Maiden CP

Samuel Mobolaji

The Board Listings and Markets Committee of the FMDQ Securities Exchange Limited (FMDQ Exchange), has approved the quotation of the Zedcrest Capital Limited N5.00 billion Series 1 Commercial Paper (CP) under its N15.00 billion CP Issuance Programme on its platform.

This development is believed to be part of the FMDQ Exchange’s effort to consistently empower its stakeholders, while providing access to capital for corporate entities through its efficient and proficient Securities Admissions Service.

To commemorate the CP quotation, FMDQ Exchange, held a prestigious Quotation Ceremony recently at its offices, for the Issuer, represented by the Group Managing Director, Mr Dayo Amzat, along with other key representatives from Zedcrest Capital.

Managing Director, FMDQ Exchange, Ms. Tumi Sekoni, represented by Ms. Jumoke Olaniyan, Senior Vice President, Business Development Division, FMDQ Exchange, whilst welcoming guests to the Ceremony, congratulated the Issuer for the successful quotation of its maiden CP, stating that FMDQ Exchange’s quotation service has been tailored to provide, amongst others, a unique opportunity for Issuers to raise finance thereby meeting their short term funding needs even as the Nigerian debt markets becomes aligned with international best practices and standards.

She also stated that through this quotation, Zedcrest Capital will benefit from FMDQ Exchange’s diversified investor base, its highly efficient and responsive securities admission processes, amongst others.

She highlighted that FMDQ Exchange will remain dedicated to advancing the growth of the Nigerian debt markets by leading and supporting market-driven initiatives and maintaining its position as the preferred platform for registration, listing, quotation, trading, and reporting of financial securities.

Whilst delivering the Special Address, Mr Dayo Amzat commented that “Zedcrest Capital is pleased to announce its N5.00 billion CP Issue under our N15.00 billion shelf Programme quoted on the FMDQ Exchange’s platform. This Programme marks our entry into the capital market as an issuer and the proceeds will be deployed to implement Zedcrest Capital’s 2023 strategic goals of digitising its consumer finance business and expanding its securities dealing offerings beyond West Africa.

“We are proud to welcome top local investors from the Pensions, Asset Management and Insurance industries as strategic partners. We are humbled by the faith placed on us and we look forward to rewarding their trust through strong execution of our 2023 aspirations.”

Also, the sponsor of the CP and Registration Member (Quotations) of the Exchange, CardinalStone Partners Limited, through its Group Managing Director, Mr Michael Nzewi, stated that “CardinalStone Partners Limited is pleased to announce its role as the Sole Arranger to the N5.00 billion Series 1 CP Issue for Zedcrest Capital Limited under its N15.00 billion CP Programme. As the Sole Arranger, we utilised our extensive network of relationships with a diverse pool of investors including Pension Fund Administrators, Asset Managers and Insurance companies to successfully execute this transaction.

“This achievement is a testament to our unwavering commitment to deliver exceptional financial advisory and capital-raising solutions to our esteemed clients. We remain committed to providing innovative and tailored financial services, strengthening our position as a leading investment firm in Nigeria.”