The Board Listings and Markets Committee of the FMDQ Securities Exchange Limited has approved the quotation of the Zedcrest Capital Limited ₦5billion Series 1 Commercial Paper (CP) under its ₦15billion CP Issuance Programme.
Zedcrest Capital, the Issuer, a subsidiary of Zedcrest Group, is a proprietary and capital management firm, investing in debt and equity capital markets, business acquisitions and buyouts, the Exchange said in a statement yesterday.
To commemorate the CP quotation, FMDQ Exchange, said it held a quotation ceremony in April, for the Issuer, represented by the Group Managing Director, Dayo Amzat, along with other key representatives from Zedcrest Capital.
Also present at the Ceremony were the representatives from the sponsor to the quotation, CardinalStone Partners Limited, as well as other parties to the issue.
The Managing Director, FMDQ Exchange, Ms. Tumi Sekoni, represented by Ms. Jumoke Olaniyan, Senior Vice President, Business Development Division, FMDQ Exchange, congratulated the Issuer for the successful quotation of its maiden CP.
She was quoted as saying that FMDQ Exchange’s quotation service has been tailored to provide, amongst others, a unique opportunity for Issuers to raise finance thereby meeting their short term funding needs even as the Nigerian debt market becomes aligned with international best practices and standards.
She noted that through this quotation, Zedcrest Capital will benefit from FMDQ Exchange’s diversified investor base, its highly efficient and responsive securities admission processes, amongst others.
She highlighted that FMDQ Exchange will remain dedicated to advancing the growth of the Nigerian debt market by leading and supporting market-driven initiatives, and maintaining its position as the preferred platform for registration, listing, quotation, trading, and reporting of financial securities.
FMDQ Exchange’s quotation service has been tailored to provide, amongst others, a unique opportunity for Issuers to raise finance thereby meeting their short term funding needs even as the Nigerian debt markets becomes aligned with international best practices and standards.
On his part, Amzat said: “Zedcrest Capital is pleased to announce its ₦5billion CP Issue under our ₦15billion shelf Programme quoted on the FMDQ Exchange’s platform.
“This Programme marks our entry into the capital market as an issuer and the proceeds will be deployed to implement Zedcrest Capital’s 2023 strategic goals of digitising its consumer finance business and expanding its securities dealing offerings beyond West Africa.
“We are proud to welcome top local investors from the Pensions, Asset Management and Insurance industries as strategic partners. We are humbled by the faith placed on us, and we look forward to rewarding their trust through strong execution of our 2023 aspirations.”
Also, the Group Managing Director, CardinalStone Partners, Michael Nzewi, said: “CardinalStone Partners Limited is pleased to announce its role as the Sole Arranger to the ₦5billion Series 1 CP Issue for Zedcrest Capital Limited under its ₦15billion CP Programme.
“As the Sole Arranger, we utilised our extensive network of relationships with a diverse pool of investors including Pension Fund Administrators, Asset Managers and Insurance companies to successfully execute this transaction.
“This achievement is a testament to our unwavering commitment to deliver exceptional financial advisory and capital-raising solutions to our esteemed clients. We remain committed to providing innovative and tailored financial services, strengthening our position as a leading investment firm in Nigeria.”
