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SKLD Integrated Services Announces Successful Redemption of N553m CP
SKLD Integrated Services Limited has stated it redeemed its N553 million Commercial Paper (CP) and repaid all subscribers.
This marks the successful conclusion of SKLD’s debut in the Nigerian debt capital market, which saw the firm raising N553 million in a programme jointly sponsored by Coronation Merchant Bank Limited and Afrinvest Capital Limited.
The Manging Director of SKLD Integrated Services Limited, Mrs. Temilola Adepetun in a statement said, “We are thrilled to have fully redeemed our commercial paper and repaid our subscribers, and we are grateful for the support and confidence of the market.
“This success is a testament to the strength of our business and our commitment to delivering value to our stakeholders.
“We look forward to pursuing further growth opportunities and continuing to execute our business plan. SKLD would continue to tap into the domestic capital market and take advantage of market conditions to exponentially grow its business.”
The Nigeria’s educational supplies company and a leading provider of relief products and solutions to local and international organizations, said it leveraged the successful CP programme to achieve significant growth and success, including the expansion of its retail footprint with the opening of its Surulere store to cater to the teeming population in Lagos Mainland.
The company also used the fund to diversify its offerings to cater to office and lifestyle categories, bringing in new customer demography.
“We grew our customer base in the humanitarian aid supply segment by over 50per cent with a turnover growth of over 70per cent and drove the expansion of our school uniform supplies business from 18 cities and 380 schools to cover 24 cities and 500 schools in 2022.
“We expanded our local production capacity and expanded our partnership engagement with foreign suppliers for raw materials whilst furthering our pathway to import substitution by increasing the output of our domestic production team and bolstering our local specialized production infrastructure.
“We strengthened our supply chain operations by upgrading our warehousing facility to cater to the exponential growth we are experiencing in our customer base and trading volumes. Our customer count grew by over 20 per cent in FY 2022. As a result, the company has strong momentum and is well positioned for continued growth in the future,” the statement said.