FMDQ Securities Exchange Ltd has approved the quotation of the FBNQuest Merchant Bank Ltd N7.34 billion series 19 Commercial Paper (CP) on its platform. 
The exchange said this in a statement made available to MarketForces Africa on Friday.The statement explained that the quotation was under the bank’s N100 billion CP programme on its platform.
It said that the transaction followed the due diligence process and was approved by the Board Listings and Markets Committee of the Exchange. According to the statement, the net proceeds from this CP will support the issuer’s short term funding requirements.FMDQ

FBNQuest Merchant Bank is a merchant banking firm that offers an array of financial services, including coverage & corporate banking, financial advisory, debt capital markets, equity capital markets, institutional sales, fixed income currency & treasury and wealth management.

The bank is committed to finding innovative solutions for its client base of high net-worth individuals, small and medium enterprises, corporates, financial institutions and governments, whilst catering to their diverse financial needs.FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services and seamless trading, amongst others.

The Exchange said it has continued to avail its credible and efficient platform as well as tailor its Listing and Quotation services to suit the needs of issuers and its Registration Members.“The timely admission of this CP issue, and in general, all securities on FMDQ Exchange, is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market.

“In line with the value proposition of FMDQ Exchange, the CP shall be availed global visibility (through the Exchange’s website and systems), governance, continuous information disclosure to protect investors’ interest and credible price formation, amongst other benefits derived from the FMDQ Exchange platform”, FMDQ added.FBNQuest Lists N7.34 Billion Commercial Paper on FMDQ