Committed to the continuous empowerment of the Nigerian financial market and the provision of uninterrupted services to all stakeholders, FMDQ Securities Exchange Limited (FMDQ Exchange or the Exchange)  has announced  the approval of the quotation of the Flour Mills of Nigeria PLC ₦10.00 billion Series 13 and ₦20.00 billion Series 14 Commercial Paper (CP) notes (the Flour Mills CPs).

The transactions are under Flour Mills ₦100.00 billion CP Issuance Programme on the Exchange’s platform.

“As most businesses across the globe continue to grapple with the economic effects of the COVID-19 pandemic, FMDQ Holdings PLC (FMDQ Group or FMDQ) has through its subsidiary, FMDQ Exchange, sustained its efforts in the provision of required support to governments, corporates and individuals through the delivery of innovative and dependable capital market solutions”, the Group stated.

The Nigerian CP market has remained a viable option for corporate entities looking to raise funds to meet shortfalls in their working capital needs, as well as other short-term expenditures.

FMDQ Exchange stated that, “as with previous papers issued under the Programme and like all other securities listed, quoted and traded on the FMDQ Exchange platform, the Flour Mills CPs shall be availed market visibility through FMDQ Exchange’s website and systems; transparency through their inclusion in the FMDQ Daily Quotations List; governance and continuous information disclosure to protect investor interest; amongst other benefits derived from the preferred admission to FMDQ Exchange.”

As the economic impact of COVID-19 continues to crystallise, FMDQ Group says it remains steadfast in contributing towards the emergence of a resilient financial market in Nigeria.

The Group added that, together with its subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – it shall continue to engage the market and invariably, deploy innovative strategies leveraging on the unrivalled capabilities within its vertically integrated market infrastructure to promote market development and expansion.