FMDQ Lists Flour Mills N30bn Commercial Papers

FMDQ Securities Exchange Limited has announced the approval of the quotation of the Flour Mills of Nigeria Plc N10 billion Series 13 and N20 billion Series 14 Commercial Paper notes. The notes are part of the firm’s N100 billion Commercial Paper Issuance Programme on the Exchange’s platform, a statement from FMDQ said.

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 providing 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.

“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.” FMDQ statement noted.