In its bid to demonstrate its commitment to the development of the Nigerian capital market, FMDQ Securities Exchange Limited has through its Board Listings, Markets and Technology Committee, approved the listing of the Fidelity Bank Plc Series 1 N41.21 billion Fixed Rate Subordinated Unsecured Bond under its N100.00 billion Bond Issuance Programme to its platform.
The concurrent listings and quotations 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 market.
This significant listing will allow the issuer, Fidelity Bank Plc, a full-fledged commercial bank operating in Nigeria with over five (5) million customers serviced across 250 business offices, fund key activities that will ultimately translate in the development of the Banking sector and the Nigerian economy at large.
Commenting on the development, Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe, said the bond issuance is by far the largest local bond transaction by any commercial bank in Nigeria, thus validating the continued investor confidence in our well-experienced management team.
“By registering and listing the bonds on FMDQ Securities Exchange Limited, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments”, She said.
Commenting on the transaction, the Co-CEO, Planet Capital Limited, Efe Akhigbe, said the firm is pleased to sponsor the listing of the bond, having led and collaborated with a club of investment banking firms that advised on the transaction.
In support, the Co-CEO, Planet Capital Limited, Dr. Tony Anonyai, stated “The success of the issuance firmly establishes the Bank’s position as one of the leading banks in the country and further sets it on the strategic trajectory for market dominance in the coming years. This listing makes for liquidity and price discovery in the marketplace which is a sweetener for the investors”.
The exchange in a statement said it remains committed to articulating and pioneering, with the support of its key stakeholders, innovative ways to improve and make the Nigerian financial markets globally competitive, operationally excellent, liquid, and diverse.