By Abimbola Ogunnaike
FMDQ Securities Exchange Limited has announced the approval of the quotation of Flour Mills of Nigeria Plc’s N32.54 billion Series 5 commercial paper notes.
The notes are part of the firm’s N200bn CP issuance programme on the exchange’s platform, according to a statement from FMDQ on Tuesday, 2 April, 2024.
The statement said: “FMDQ Exchange is pleased to announce the approval for the quotation of Flour Mills of Nigeria Plc ₦32.54bn Series 5 commercial paper under its ₦200.00bn Commercial Paper Issuance Programme on its platform.”
Flour Mills Plc had in 2020 listed N10bn Series 13 and N20bn Series 14 Commercial Paper notes under its N100bn CP Issuance Programme on the Exchange’s platform.
According to FMDQ, most businesses across the globe continued to grapple with the economic effects of the COVID-19 pandemic.
It said its parent company, FMDQ Holdings Plc, had therefore 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 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,” the statement added.
