The Board Listings and Markets Committee of the FMDQ Securities Exchange Limited has approved the quotation of the CardinalStone Partners Limited ₦10 billion Series 2 Commercial Paper (CP) on the Exchange platform.
CardinalStone Partners is a full-service investment banking and financial services company that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.
The issuers explained that proceeds from this CP will be utilised by the Issuer to support its short-term financing requirements.
The CP is co-sponsored by FBNQuest Merchant Bank Limited – lead sponsor; CardinalStone Partners Limited, EAC Advisory Limited, FCMB Capital Markets Limited, and United Capital PLC – all Registration Member (Quotations) of the Exchange.
FMDQ said the quotation of this CP on the Exchange’s platform validates its conscious drive to support the goals of corporate businesses in meeting their capital raising needs and to deepen the Nigerian financial markets.
It added that the successive and successful admittance of the securities listed and quoted so far in the year 2022, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation service offered by the Exchange.
This, it said, has made the platform Nigeria’s largest securities exchange by market turnover (with an annual average of about ₦166 trillion over the last eight years).
FMDQ Exchange is committed to powering the growth of the Nigerian debt capital market (DCM) by steadfastly availing its efficient platform for the registration, listing, quotation and trading of securities.
FMDQ Group is reputed as Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and other allied services.
It is also considered Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
Proceeds from this Commercial Paper will be utilised by the Issuer to support its short-term financing requirements.