FMDQ Securities Exchange Limited has approved the registration of the CardinalStone Partners Limited ₦20billion Commercial Paper (“CP”) Programme on its platform.
The Exchange also announced the admission of the Hartleys Supermarket & Stores Limited ₦5billion CP Programme, and the quotation of the ₦0.62 billion Series 1 CP under its ₦5billion CP Issuance Programme on its platform.
Regarding CardinalStone Partners, the Exchange described it as a multi-asset investment management firm that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.
This CP Programme allows the Issuer to efficiently raise short-term finance from the Nigerian debt markets, through CP issues, within the CP Programme limit, it said.
The CP programme is sponsored by FBNQuest Merchant Bank Limited (Lead Sponsor); Emerging Africa Capital Advisory Limited, CardinalStone Partners Limited, FCMB Capital Markets Limited, and United Capital PLC (Co-Sponsors) – all Registration Member (Quotations) of the Exchange.
The successive and successful admittance of the securities listed and quoted so far in the year 2023, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation services offered by FMDQ Exchange…
For Hartleys Supermarket & Store, FMDQ said the Issuer is a world-class brand that is driven by the commitment to deliver the ultimate shopping experience to its customers by offering a wide variety of the freshest and highest quality products at competitive prices, through exceptional customer service, across its various store locations.
The quotation of the Series 1 CP, sponsored by United Capital PLC – a Registration Member (Quotations) of FMDQ Exchange, strategically positions the Issuer to raise finance for its general corporate purposes from the Nigerian debt markets.
Through this quotation, FMDQ said the Issuer will not only benefit from the Exchange’s robust platform but also gain access to a wide range of qualified institutional investors.
The registration of the Hartleys Supermarket & Stores Limited CP Programme and the subsequent quotation of its Series 1 CP, validates its conscious drive to support the goals of corporate businesses and to deepen the Nigerian debt markets by steadfastly availing its efficient platform for the registration, listing and quotation of debt securities, it added.
It also noted that “The successive and successful admittance of the securities listed and quoted so far in the year 2023, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation services offered by FMDQ Exchange – Nigeria’s largest securities exchange by market turnover of over ₦169.00 trillion over the last nine years.”
