By Chinwendu Obienyi
The commercial paper (CP) market has shown resilience by providing issuers with a sustained opportunity to grow their businesses, whilst contributing to the overall growth of the Nigerian economy.
As the leading organiser for the Nigerian debt capital market (DCM), FMDQ Securities Exchange Limited (FMDQ) has continued to avail its credible and efficient platform, as well as tailor its listing and quotation service to suit the needs of issuers and its Registration Members (sponsors of the issue on FMDQ Exchange).
Following the due diligence process, FMDQ Exchange, through its Board Listings and Markets Committee, has approved the quotation of the DLM Capital Group Limited N1.24 billion Series 1 and N1.01 billion Series 2 Commercial Papers (CPs) under its N20.00 billion Commercial Paper Issuance Programme on its platform.
DLM Capital Group Limited is a Development Investment Bank focused on providing innovative solutions to economic and social development problems that impact everyday lives of people.
Commenting on the CPs quotation, the Group Managing Director/CEO, DLM Capital Group Limited, Sonnie Ayere, stated that DLM Capital Group was pleased to announce the quotation of its N1.24 billion Series 1 and N1.01 billion Series 2 CPs under the N20.00 billion CP Issuance Programme on FMDQ Exchange.
He said, “This reinforces the Group’s developmental mandate of supporting the sustainable growth of small and medium-sized corporates across the country, in addition to supporting our growing retail and consumer finance business.”
The continuous admission of these securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian DCM, the commendable level of confidence demonstrated by both issuers and investors in the market, and validates the Exchange’s conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets.
The Exchange in a statement, said, it is committed to powering the growth of the Nigerian DCM by steadfastly availing its efficient and value-adding platform for the registration, listing, quotation, and trading of securities.