Daraju Industries strengthens market presence with N22.68bn Commercial Paper quotation on FMDQ Exchange

FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the quotation of Daraju Industries Limited’s N4.92 billion Series 1 and N17.76 billion Series 2 Commercial Paper (CP) under its N50 billion CP Issuance Programme.

The CPs proceeds will be utilised to bolster Daraju Industries’ working capital requirements, optimise its funding structure, and enhance operational efficiency, thereby positioning the company to sustain its growth trajectory, expand its market footprint, and deliver increased value to stakeholders.

This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s unwavering commitment to providing an efficient, transparent, and well-regulated platform for short-term funding. It further reinforces the Exchange’s role as a catalyst for economic growth, supporting both issuers and investors in achieving their financial objectives.

Daraju Industries Limited (Daraju Industries), a leading Nigerian fast-moving consumer goods manufacturer with a diverse portfolio spanning personal care, home care, and oral hygiene products will strategically deploy the net proceeds from the CP issuance.

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The Programme, sponsored by FBNQuest Merchant Bank Limited, a Registration Member (Listings) of FMDQ Exchange, with support from co-sponsors CardinalStone Partners Limited, Cordros Advisory Services Limited, and Coronation Merchant Bank Limited, is a testament to the company’s strong credit profile and market confidence.

Commenting on the quotation, Tumi Sekoni, Group Chief Operating Officer of FMDQ Group Plc stated: “We are pleased to welcome the quotation of Daraju Industries Limited’s Commercial Paper on FMDQ Exchange”.

“This transaction highlights the continued depth of the Nigerian commercial paper market in supporting corporate liquidity requirements and reinforces the Exchange’s role as a trusted platform for efficient capital mobilisation. We remain committed to fostering a resilient and transparent market that supports sustainable growth across key sectors of the economy,” she said.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.