FMDQ Exchange admits Valency Agro’s N7.24bn Commercial Papers
FMDQ Securities Exchange Limited, a wholly-owned subsidiary of FMDQ Holdings Plc approved for Quotation of the Valency Agro Nigeria Limited (Valency Agro) N4.57 billion Series 2 and N2.67 billion Series 3 Commercial Papers (CPs) under its N20billion CP Programme on its platform.
The Nigerian debt capital market (DCM) continues to play an important role in the efficient mobilisation and allocation of resources in the economy, the market has continued to effectively support corporates looking to expand their business operations.
Valency Agro Nigeria Limited is a subsidiary of Valency International Pte Limited – an international commodity trading house with presence in over fifteen (15) countries – that deals in the sourcing, production, and trading of agro and consumer food products.
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. 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 develop the Nigerian DCM, FMDQ Exchange will continue to sustain its efforts in supporting issuers with tailored financing options to enable them achieve their strategic objectives, deepen and effectively position the Nigerian DCM for growth.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly-owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.