FMDQ Securities Exchange Limited (FMDQ Exchange), a wholly-owned subsidiary of the FMDQ Holdings PLC (FMDQ Group), approved for quotation of the Valency Agro Nigeria Limited’s ₦4.57 billion Series 2, and ₦2.67 billion Series 3 Commercial Papers (CPs) under its ₦20 billion CP Programme on its platform.
The quotation is in line with FMDQ’s commitment to continue to play an important role in the efficient mobilisation and allocation of resources in the economy, by supporting corporates looking to expand their business operations through the Nigerian debt capital market (DCM).
Valency Agro Nigeria, the Issuer, is a subsidiary of Valency International Pte Limited – an international commodity trading house with presence in over 15 countries – that deals in the sourcing, production, and trading of agro and consumer food products.
The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.
The net proceeds from these CPs, which are sponsored by FBNQuest Merchant Bank Limited – a Registration Member (Quotations) of the Exchange, will be used by the Issuer for its short-term financing requirements.
It also reinforces the efforts of the Exchange to project the DCM as the key source of finance for the agriculture sector in Nigeria.
The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.
In keeping with its commitment to develop the Nigerian DCM, FMDQ Exchange will continue to sustain its efforts in supporting issuers with tailored financing options to enable them achieve their strategic objectives, deepen and effectively position the Nigerian DCM for growth.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, and strategically positioned through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited, to provide varied financial services to companies seeking alternative funding.
