FMDQ Exchange Admits Valency Agro Nigeria Commercial Papers
FMDQ Exchange today announces the admission of Valency Agro Nigeria limited series two and three on its platform, according to a statement made available to MarketForces Africa.
The company said the Nigerian debt capital market continues to play an important role in the efficient mobilisation and allocation of resources in the economy, adding that the market has continued to effectively support corporates looking to expand their business operations.
In this regard, FMDQ Securities Exchange Limited, a wholly owned subsidiary of FMDQ Holdings PLC, approved for Quotation of the Valency Agro Nigeria Limited ₦4.57 billion Series 2 and ₦2.67 billion Series 3 Commercial Papers under its ₦20.00 billion CP Programme on its platform.
Valency Agro Nigeria Limited is a subsidiary of Valency International Pte Limited – an international commodity trading house with a presence in over fifteen (15) countries – that deals in the sourcing, production, and trading of agro and consumer food products, the statement reads.
FMDQ reveals that the net proceeds from these CPs, which are sponsored by FBNQuest Merchant Bank Limited – a Registration Member (Quotations) of the Exchange, will be used by the Issuer for its short-term financing requirements.
It added that the quotation of these CPs reiterates the efforts of the Exchange to project the DCM as the key source of finance for the agriculture sector in Nigeria.
The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.
In keeping with its commitment to developing the Nigerian DCM, FMDQ Exchange will continue to sustain its efforts in supporting issuers with tailored financing options to enable them to achieve their strategic objectives, deepen and effectively position the Nigerian debt capital market for growth. # FMDQ Exchange Admits Valency Agro Nigeria Commercial Papers
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