FMDQ Approves Nigerian Breweries N100 Billion Commercial Paper

By Tolulope Oke

The FMDQ Securities Exchange Limited (FMDQ Exchange) has officially approved and announced the registration of the Nigerian Breweries’ N100billion Commercial Paper (CP).

Nigerian Breweries is the pioneer and largest brewing company in Nigeria, engaged in the making and selling of lager, stout, non-alcoholic malt, and soft drinks. Nigerian Breweries operates over 10 breweries and approximately two malting plants across the country.

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By offering a trustworthy and credible platform to support capital formation as well as the preferred platform for the registration, listing, quotation, trading, and reporting of financial market securities, according to a statement from FMDQ, the registration demonstrates its commitment to accelerating the development of the Nigerian debt markets. This is done through its Board Listings and Markets Committee.

As cited by Thisday, “Through the registration of this CP Programme, which is sponsored by Stanbic IBTC Capital Limited (the Lead Sponsor), FCMB Capital Markets Limited and FBNQuest Merchant Bank Limited, all Registration Member (Quotations) of the Exchange, the Issuer has availed the opportunity to raise short-term finance from the Nigerian debt markets at a time it deems suitable, through CP issuances, within the CP Programme limit.

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“The successful admittance of 102 securities, valued at N3.36 trillion, on its platform so far in the year 2022 attests to the efficient and uniquely tailored listing and quotation service offered by FMDQ Exchange.

“As a securities exchange with a commitment to facilitate growth and development in the Nigerian debt markets and the Nigerian economy at large, FMDQ Exchange will continue to promote an efficient, transparent, and well-regulated market, which will attract and retain both domestic and foreign investors, “it said.