FMDQ Exchange Admits Dangote Cement’s N100.00bn Commercial Paper

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Goddy Egene

FMDQ Securities Exchange Limited has approved the quotation of the Dangote Cement Plc N34billion Series 15 and N66 billion Series 16 Commercial Paper (CP) notes under its N150 billion Domestic CP Issuance Programme on the exchange.

The exchange said that despite the economic headwinds associated with the transition of businesses into the “new normal” in view of the COVID-19 pandemic, the Dangote Cement CP issuance and subsequent quotations on FMDQ Exchange, is another testament of the efficient listings and quotations service offered by FMDQ Exchange.

According to the FMDQ Holdings Plc, through its subsidiary, it has continued to provide the required support to governments, corporates, and individuals through the delivery of innovative and dependable capital market solutions.

“As with previous notes issued under the Programme and like all other securities listed, quoted and traded on the FMDQ Exchange platform, the Dangote Cement CPs shall be availed global visibility through FMDQ Exchange’s website and systems, as well as through their inclusion in the FMDQ Daily Quotations List, in order to ensure and maintain information transparency,” it said.

“Through the listings and quotations compliance function at FMDQ Exchange, investors are guaranteed continued disclosure of the issuer’s obligations to enable this important category of market stakeholders make informed decisions. In line with the Group’s vertically integrated market structure, investors are also provided a secure securities depository for the lodgement of their assets via FMDQ Depository Limited, thus ensuring an efficient and seamless flow of transactions from start to finish on FMDQ,” the exchange added.

FMDQ Group provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services among others.